About the Financial Reporting Authority

The FRA has evolved over the years. It began as the Financial Investigation Unit in the early 1980s, operating within police headquarters. In 2000 it underwent a name change to become the Financial Reporting Unit (FRU), with the head of unit becoming a civilian post and there being an appointed legal advisor. Line management for operational work was undertaken by the office of the Attorney General.  Throughout this period, the role of the unit was to receive, analyse and investigate SARs, in addition to gathering evidence to support prosecutions.

 

In January 2004, with the introduction of the Proceeds of Criminal Conduct Law (PCCL), the FRU became the Financial Reporting Authority (FRA). The PCCL mandated that the FRA become a full-fledged civilian body and that its function change from being an investigative to an analytical type FIU. Accordingly its mandate was restricted to the receipt and analysis of financial information coupled with the ability to disseminate this intelligence to agencies, where authorised to do so by the PCCL. The FRA’s existence and independence were further enshrined in the PCL, which repealed and replaced the PCCL and came into force on 30th September 2008.

  

Targeted Financial Sanctions Subscribe to sanctions notices

 

During the 2016/2017 Financial Year, the FRA assumed responsibility for ensuring the implementation of targeted financial sanctions with respect to terrorism, terrorism financing, proliferation, proliferation financing, and other restrictive measures related to anti-money laundering (AML) and combatting the financing of terrorism (CFT) and proliferation (CFP) from and within the Cayman Islands.

 

The post of a Sanctions Coordinator (SC) within the FRA was created and filled during the Financial Year.  The SC is responsible for coordinating the implementation of targeted financial sanctions.  The SC will take a holistic approach to ensuring compliance with the sanctions regime, to cover the whole lifecycle of compliance.  For example: promote compliance by publishing financial sanctions and engaging with the private sector, and enabling compliance by providing guidance and alerts to help them discharge their own compliance responsibilities.  The SC also performs a central and proactive role in identifying potential persons for designation, assessing whether they meet the designation criteria and seeking the necessary approvals to make a recommendation to the Governor for consideration for the person to be designated.

 

In December 2017, the FRA issued the following Industry Guidance to assist relevant institutions in complying with their obligations regarding targeted financial sanctions relating to the prevention and suppression of terrorism and terrorist financing, and the prevention, suppression and disruption of proliferation of weapons of mass destructions and it’s financing:

 

Public Notice - 'Red Alert' on financial sanctions evasion typologies by Russia elites and enablers, July 2022

 

Public Notice - The Russia Sanctions Regime, March 2022

 

FINANCIAL SANCTIONS GUIDANCE - December 2021

 

GUIDANCE - IDENTIFYING PROLIFERATION FINANCING 

 

OFSI - GUIDANCE MARITIME SECTOR - Published 27 July 2020

 

PUBLIC NOTICE - The Myanmar Sanctions Regime

 

PUBLIC NOTICE - The Global Anti-Corruption Sanctions Regime

 

Public Notice - UK and Overseas Territories (OT's) Santions after the end of the BREXIT Transition Period

 

PUBLIC NOTICE - Introduction to Global Human Rights Sanctions Regime

 

PUBLIC NOTICE - REMINDER OF FINANCIAL SANCTIONS OBLIGATIONS IN THE CAYMAN ISLANDS

 

Quick Guide to Financial Sanctions in the Cayman Islands

 

License Application Form

 

Compliance Reporting Form (CRF)

 

Sanctions List in the UK

 

UK sanctions list - published by the Foreign, Commonwealth & Development Office (FCDO); contains all individuals, entities and ships specified/designated under the Sanctions Anti-Money Laundering Act 2018 (SAMLA) and Includes those designated under all types of sanctions including financial, immigration, trade and transport.

 

OFSI Consolidated list of financial sanctions targets - published by the HMT Office of Financial Sanctions Implementation (OFSI); contains all individuals and entities designated under SAMLA financial sanctions measures and other UK legislation (e.g. ATCSA) and does not cover non-financial sanctions designations.

Financial Sanctions Notice - October 2022

05 October 2022 - Yemen

04 October 2022 - Russia

Financial Sanctions Notice - September 2022

30 September 2022 - Russia

28 September 2022 - Russia

28 September 2022 - Yemen

26 September 2022 - Libya

26 September 2022 - Russia

16 September 2022 - Russia

06 Sepember 2022 - Russia

02 September 2022 - Iraq

02 September 2022 - Russia 

Financial Sanctions Notice - August 2022

24 August 2022 - Myanmar

23 August 2022 - Russia

9 August 2022 - Russia

9 August 2022 - Democratic People's Republic of Korea

2 August 2022 - Russia 

2 August 2022 - Democratic People's Republic of Korea

2 August 2022 - Venezuela

Financial Sanctions Notices - July 2022

26 July 2022 - Syria

26 July 2022 - Russia

20 July 2022 - Libya

15 July 2022 - Russia

12 July 2022 - Belarus

12 July 2022 - Russia

7 July 2022 - Belarus

7 July 2022 - Democratic People's Republic of Korea

5 July 2022 - Russia

5 July 2022 - Cyber

Financial Sanctions Notices - June 2022

29 June 2022 - Russia

29 June 2022 - Syria

24 June 2022 - Myanmar

24 June 2022 - Russia

16 June 2022 - Syria

16 June 2022 - Libya

16 June 2022 - Iran (Human Rights)

16 June 2022 - Counter-Terrorism (International) 

16 June 2022 - Chemical Weapons

16 June 2022 - Myanmar

16 June 2022 - Russia

14 June 2022 - ISIL (Da'esh) and Al-Qaida

 

Financial Sanctions Notices - May 2022

27 May 2022 - Russia

27 May 2022 - Cyber

27 May 2022 - Belarus

24 May 2022 - Russia

24 May 2022 - Iran (Nuclear)

20 May 2022 - Iraq

20 May 2022 - Russia

19 May 2022 - Russia

13 May 2022 - Syria

09 May 2022 - Russia 

05 May 2022 - Russia

04 May 2022 - Russia

Financial Sanctions Notices - April 2022 

26 April 2022 - Russia

21 April 2022 - Belarus

21 April 2022 - Russia

19 April 2022 - Iraq

14 April 2022 - ISIL (Da'esh) and Al-Qaida

13 April 2022 - Belarus

11 April 2022 - Bosnia and Herzegovina

11 April 2022 - Russia

08 April 2022 - Russia

06 April 2022 - Russia

06 April 2022 - Russia

05 April 2022 - Russia

04 April 2022 - Russia

04 April 2022 - ISIL (Da'esh) and Al-Qaida

 

Financial Sanctions Notices - March 2022

31 March 2022 - Russia

30 March 2022 - Russia

30 March 2022 - Belarus

25 March 2022 - Myanmar

25 March 2022 - Russia

24 March 2022 - Cyber

18 March 2022 - Russia

18 March 2022 - Belarus

15 March 2022 - Russia

15 March 2022 - Counter Terrorism (International)

15 March 2022 - Cyber

15 March 2022 - Russia

11 March 2022 - Iran (Nuclear)

11 March 2022 - Russia

10 March 2022 - Russia

08 March 2022 - Iran (Nuclear)

04 March 2022 - Russia

04 March 2022 - Iran (Nuclear)

04 March 2022 - Iraq

04 March 2022 - Democratic People's Republic of Korea

04 March 2022 - ISIL (Da'esh) & Al-Qaeda Organisations

03 March 2022 - Russia

03 March 2022 - Democratic Republic of Congo

03 March 2022 - Democratic People's Republic of Korea

03 March 2022 - South Sudan

01 March 2022 - Russia

01 March 2022 - Russia

01 March 2022 - Russia

Financial Sanctions Notices - February 2022

28 Febraury 2022 - Russia

25 Febraury 2022 - Russia

24 February 2022 - Russia

24 February 2022 - Russia

22 February 2022 - Russia

22 February 2022 - Russia

21 February 2022 - Somalia

18 February 2022 - Russia

18 February 2022 - Belarus

17 February 2022 - Venezuela

17 February 2022 - Syria

16 February 2022 - Iraq

16 February 2022 - Somalia

16 February 2022 - Iran (Uuman Rights)

 

14 February 2022 - Syria

14 February 2022 - Russia

14 February 2022 - Zimbabwe

11 February 2022 - ISIL (Da'esh) & Al-Qaeda Organisations

11 February 2022 - Afghanistan

10 February 2022 - Democratic Republic of the Congo

10 February 2022 - Iran (Nuclear)

10 February 2022 - Libya

10 February 2022 - South Sudan

08 February 2022 - Belarus

08 February 2022 - Myanmar

08 February 2022 - Counter-Terrorism (International) 

08 February 2022 - Global Anti-Corruption

04 February 2022 - Belarus

 04 February 2022 - Venezuela

02 February 2022 - Iran (Human Rights)

 02 February 2022 - Libya

 02 February 2022 - Venezuela

Financial Sanctions Notices - January 2022

31 January 2022 - Myanmar

31 January 2022 - Libya

28 January 2022 - Venezuela

28 January 2022 - Iran (Human Rights)

25 January 2022 - ISIL (Da'esh) & Al-Qaeda Organisations

19 January 2022 - Libya

19 January 2022 - ISIL (Da'esh) & Al-Qaeda Organisations

13 January 2022 - Global Human Rights

12 January 2022 - ISIL (Da'esh) & Al-Qaeda Organisations

12 January 2022 - South Sudan

04 January 2022 - ISIL (Da'esh) & Al-Qaeda Organisations

Financial Sanctions Notices - December 2021

22 December 2021 - Central African Republic

22 December 2021 - ISIL (Da'esh) & Al-Qaeda Organisations

10 December 2021 - Myanmar

10 December 2021 - Global Human Rights

09 December 2021 - Yemen

09 December 2021 - Iraq

02 December 2021 - Belarus

02 December 2021 - Syria

02 December 2021 - Russia

 

Financial Sanctions Notices - November 2021

15 November - Nicaragua

10 November 2021 - Yemen

Financial Sanctions Notices - October 2021

26 October 2021 - Libya

Financial Sanctions Notices - September 2021

30 September 2021 - Syria

22 September 2021 - Iraq

09 September 2021 - Iraq

07 September 2021 - ISIL (Da'esh) & Al-Qaeda Organisations

02 September 2021 - Myanmar

 

Financial Sanctions Notices - August 2021

20 August 2021 - Chemical Weapons

12 August 2021 - Global Anti-Corruption

12 August 2021 - Syria

 

09 August 2021 - Public Notice - Belarus

09 August 2021 - Belarus

 

Financial Sanctions Notices - July 2021

22 July 2021 - Global Anti-Corruption

16 July 2021 - Global Human Rights

12 July 2021 - Syria

12 July 2021 - Belarus

08 July 2021 - Syria

 

08 July 2021 - Belarus

1 July 2021 - Russia

1 July 2021 - Iraq

 

 

Financial Sanctions Notices - June 2021

25 June 2021 - Belarus

21 June 2021 - Belarus

21 June 2021 - Russia

21 June 2021 - Myanmar

18 June 2021 - ISIL (Da'esh) & Al-Qaeda Organisations

 

 

Financial Sanctions Notices - May 2021

17 May 2021 - Myanmar

13 May 2021 - Libya 

 

Financial Sanctions Notices - April 2021 

30 April 2021 - Libya

29 April 2021 - Myanmar

29 April 2021 - Global Anti-Corruption

16 April 2021 - Iraq

7 April 2021 - ISIL (Da'esh) & Al-Qaeda

6 April 2021 - Yemen

6 April 2021 - Central African Republic

1 April 2021 - ISIL (Da'esh) & Al-Qaeda Organisations

1 April 2021 - Global Human Rights 

 

Financial Sanctions Notices - March 2021

25 March 2021 - Global Human Rights

25 March 2021 - Syria

25 March 2021 - Iran (Nuclear)

25 March 2021 - Venezuela

24 March 2021 - ISIL (Da'esh) and Al-Qaeda Organisations

22 March 2021 - Global Human Rights 

15 March 2021 - Iran (Nuclear)

15 March 2021 - Syria 

8 March 2021 - Sudan

2 March 2021 - Somalia

 

Financial Sanctions Notices - February 2021

 

26 February 2021 - Yemen

25 February 2021 - Burma

25 February 2021 - Central African Republic

22 February 2021 - ISIL (Da'esh) & Al-Qaeda Organisations

18 February 2021 - Burma

18 February 2021 - Belarus

18 February 2021 - Counter Terrorism (International)

18 February 2021 - Democratic Republic of the Congo

18 February 2021 - Global Human Rights

18 February 2021 - Guinea-Bissau

18 February 2021 - Iraq

18 February 2021 - Libya

18 February 2021 - Iran (Nuclear)

18 February 2021 - ISIL (Da'esh) & Al-Qaeda Organisations

18 February 2021 - Syria

01 February 2021 - Afghanistan

01 February 2021 - Central African Republic

01 February 2021 - Chemical Weapons

01 February 2021 - Iran (Nuclear Weapons)

01 February 2021 - Libya

01 February 2021 - Russia

01 February 2021 - Syria

01 February 2021 - Yemen

01 February 2021 - Zimbabwe  

 

Financial Sanctions Notices - January 2021 

 

 21 January 2021 - Counter Terrorism

21 January 2021 - Counter Terrorism (International)

21 January 2021 - Central African Republic

21 January 2021 - Democratic Republic of the Congo

21 January 2021 - Libya

21 January 2021 - South Sudan

21 January 2021 - North Korea

20 January 2021 - Democratic Republic of the Congo 

19 January 2021 - Syria

19 January 2021 - Russia

19 January 2021 - Libya

19 January 2021 - Democratic Republic of the Congo

19 January 2021 - North Korea

19 January 2021 - Chemical Weapons

19 January 2021 - Burma