The bill in question is a completely revised version of the Proceeds of Criminal Conduct Law which, according to Attorney General Samuel Bulgin, proposes to further modernise Cayman's anti-money laundering legislative and institutional frameworks.

The bill will introduce a civil forfeiture component which will allow for confiscation of proceeds, where evidence shows that such proceeds flow from some unlawful conduct but there is no criminal conviction.

The bill is part of a busy legislative programme for the assembly, which is due to scrutinise a "completely revamped" Police Law and an anti-corruption bill, in addition to legislation covering the financial industry, the criminal justice system and a wide range of other laws.