WHAT CAUSED 90% INCREASE IN SAR FILINGS IN CAYMAN ISLANDS?

Kenneth Rijock in his blog on 26th July says that he has noted an increase of 90% in SAR filed in the last 6 months of 2017 compared to from the same 6-month period in 2016, and that 220 SAR were filed during the month of December, 2017 alone.  These details are said to be in the Interim Report for the second half of 2017 of the Financial Reporting Authority of Cayman Islands Government and, he suggests, may be due not only to a CFATF evaluation, but also the “Cayman Gang of Four scandal”.  The report itself can be found at –

http://www.fra.gov.ky/files/Six%20Month%20Interim%20Report%20-%2031%20December%202017.pdf

http://rijock.blogspot.com/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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