Cayman Offshore Bank Accounts
Cayman Islands rejects ‘dirty money’ claim
The Cayman Islands has responded angrily to Jersey’s suggestion
that business emanating from the jurisdiction could be tainted with
dirty money.
Cayman Offshore Bankj Accounts & The Jersey Financial Services
Commission
The Jersey Financial Services Commission had advised that Jersey’s
banks and financial businesses can no longer assume that business
introduced from the Cayman Islands has been subject to due diligence
and ‘know your customer’ procedures that are equivalent
to those in Jersey, and thus Jersey institutions should check for
themselves that any business is legitimate before accepting it.
A similar warning was issued against Malta.
The warning stems from the Cayman Islands’ inclusion on the
Financial Action Task Force list of countries not complying with
international efforts to stamp out money laundering, but Jennifer
Dilbert, the Caymans’ UK government representative, was adamant
that since the publication of the FATF list, the jurisdiction had
introduced new regulations.
Cayman Offshore Bank Accounts - Dilbert
Dilbert said: “Cayman is not prepared to comment on actions
by any particular jurisdictions in the same way that it would
not seek to discredit another jurisdiction with respect to any
of the financial initiatives facing banking centres round the
world.
We consider ourselves a mature, well-regulated and important financial
jurisdiction. Our approach has been, and will continue to be, to
cooperate with other countries and strive to correct shortcomings
in our financial industry.”
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