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EU dirty money blacklist released: Cayman escapes, Bahamas & USVI flagged

The Cayman Islands escapes the European Union’s dirty money blacklist.
But our neighbours Bahamas, the US Virgin Islands and Panama have been added to the 23 countries-long rap sheet.
On Wednesday (13 February) the European Commission released its new anti-money laundering and terrorist financing blacklist.
The Cayman Islands was one of 54 countries under the microscope as a high-risk jurisdiction.
But the introduction of key pieces of laws specifically aimed at safeguarding against terrorist financing appears to have helped keep Cayman off the dirty money list.
“Well, of course, it is something that we would expect we would not be on it because of the work we continue to do and continue to dialogue with the EU, in terms of showing our cooperation,” said Financial Services Minister Hon. Tara Rivers.
However, the Cayman Islands cannot breathe a sigh of relief just yet.
This blacklist is only one of a number of assessments the jurisdiction and other countries are facing.
The main EU blacklist of interest for many within the local financial services industry is due next month.

Read the full EU statement:

http://europa.eu/rapid/press-release_IP-19-781_en.htm

About the author

Reshma Ragoonath

Reshma Ragoonath

Reshma Ragoonath is a Trinidadian journalist with 18 years media experience with a strong background in print with her most recent stint at The Cayman Reporter. She has a BA in Mass Communications, as well as, an Associate degree in Journalism and Public Relations.

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