UK FRUSTRATED BY CAYMAN ISLANDS SILENCE ON MONEY LAUNDERING

The BBC reported on 15th September that British law enforcement officers fighting money laundering are being frustrated by a lack of co-operation by the authorities in the Cayman Islands.  The NCA said it was “asking for information we don’t get”, and it says it has also significantly stepped up efforts to seize dirty Russian money coming into the UK.  It said that Donald Toon, director of the NCA, revealed the Cayman Islands authorities had not co-operated when he had asked for information on who owned these firms.  He said that usually when his officers asked British Overseas Territories for help “we can generally get from them clear, unambiguous beneficial ownership information but we are having a difficulty with Cayman” and that “The Cayman government is entirely aware of the UK concerns”.

https://www.bbc.co.uk/news/uk-45525976?src=ilaw

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s