... financing, international regulators are seeking to hold offshore jurisdictions such as the Cayman Islands to higher standards and that this detracts from the pursuit of detecting and prosecuting money launders. This paper will deal with the following perceived issues: firstly, to offshore...

... for remedial CDD efforts whereby if a pre-existing customer cannot provide the requested information then the business relationship should be terminated. A similar approach was adopted by HBMX in respect of Cayman Island accounts where up to nine thousand accounts were closed as the required information...