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Report: Cayman’s businesses vulnerable to criminal activity

Cayman’s businesses are vulnerable to money laundering and terrorist financing.

That’s the finding from the Cayman Islands’ first National Money Laundering and Terrorist Financing risk assessment.

The assessment gives the country’s financial sector as well as non-financial businesses and professions grades of medium to medium-high when it comes to vulnerability to criminal activity like theft, corruption, drug trafficking, evasion of taxes overseas and fraud.

The five-step scale ranged from low risk to high risk.

Government says it plans to continue reviewing and updating laws to strengthen institutional framework.

About the author

Kevin Morales

Kevin Morales

Cayman 27 News Director Kevin Morales is an award-winning journalist with more than 12 years of experience. Kevin is a Milwaukee, Wis., native. He graduated with a bachelor's degree in journalism in 2005 from the University of Minnesota. He's a proud father and a loyal fan of the Green Bay Packers, Milwaukee Brewers, Milwaukee Bucks and U of M Golden Gophers.

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