Trust issues: Cayman levies $4.2m anti-money-laundering fine on Intertrust

In a money laundering crackdown, Cayman fined Amsterdam-based Intertrust for a “failure to remedy” significant administrative breaches such as failing to identify beneficial owners or properly monitor accounts. In 2019 Cayman was cited in a report for a lack of effective money laundering sanctions.

Email prepared by Jack Willoughby