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Article: Government of the Grand Cayman Islands Designation Announced By Financial Action Task Force 'Astonishing and Contradictory'.
- Article from:
- PR Newswire
- Article date:
- June 22, 2000
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GRAND CAYMAN, June 22 /PRNewswire/ --
The Government of the Cayman Islands expressed its astonishment today at being listed by the Financial Action Task Force (FATF) as a "non-cooperative" jurisdiction in the international fight against money laundering. The designation is entirely contradictory with efforts made by the Cayman Islands in the global fight against money laundering. Moreover, the decision was made without due process, and is inconsistent with reports made by FATF as late as last week.
"We were assured by FATF that 'the review process would be fair and transparent throughout' in their letter outlining the process," said Hon. George McCarthy, ...