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Article: Cleaner than clean. (Cayman Islands' efforts at controlling money laundering)
- Article from:
- The Banker
- Article date:
- September 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Cayman Islands is the only Caribbean country to be awarded a clean bill of health for its efforts in controlling money laundering.
Grand Cayman has been described as one of the world s most sophisticated international financial centres.
The Cayman Islands has a long history of offshore activities and it has found a balance between vigilance against crime and over-regulation.
Just 150 miles south of Cuba, the Caymans is the fifth largest financial services centre, in terms of assets held, after London, New York, Tokyo and Hongkong. The financial community is made up of more than 560 banks and trust companies, including 47 of the world's top 50 banks. ...