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On 28 October 2025, the International Bar Association (IBA) and the International Federation of Accountants (IFAC) launched a pioneering new initiative aimed at supporting legal and accountancy professional bodies in the fight against money laundering. The three-day programme, with over 70 delegates from bar associations and professional accountancy bodies from 22 jurisdictions in the Caribbean region and beyond, is being held in the Cayman Islands between October 28-30.The first in a planned global series of regional anti-money laundering (AML) capacity-building events, this pilot workshop, comprising panel sessions, lectures and collaborative breakout activities, aims to:provide a shared learning environment designed to help strengthen national AML systems;enhance the ability of professional bodies to educate and equip their members with relevant AML requirements and expectations;empower professional associations to partner more effectively with key AML stakeholders, including government agencies and financial intelligence units; andsupport professional bodies in undertaking or preparing for AML supervisory responsibilities where applicable.The initiative is supported by the independent inter-governmental body and AML standard setter, the Financial Action Task Force (FATF), and the Caribbean FATF, its regional affiliate. Hosting the workshop are the Cayman Islands Institute of Professional Accountants (CIIPA) and the Cayman Legal Services Supervisory Authority (LSSA), with the sponsorship of the Cayman Islands’ government Ministry of Financial Services & Commerce. Steven Richman, Chair of the IBA’s Bar Issues Commission, commented: ‘This initiative underscores the critical role that the accountancy and legal professions play in combatting money laundering and strengthening the integrity of the global financial system as a whole. Sharing ideas and working together is crucial to stamping out this corrupt practice.’ Scott Hanson, Director of Policy & Global Engagement of IFAC, said: ‘IFAC, by connecting and uniting its members, makes the accountancy profession’s contributions to the fight against money laundering truly global. Through our partnership with the FATF and IBA, we aim to equip our member professional bodies with the tools and networks they need to be AML leaders in their jurisdictions.’
