Featured Cayman Islands

Fifth man charged in money laundering case

Kody Zander is the fifth person to be charged in connection to an ongoing investigation into alleged money laundering of millions of dollars’ worth of gold. James Hinds, QC, who represents the prosecution in the matter, told Summary Court Magistrate Valdis Foldats, “Kody Zander was charged in relation to a… Read More

UBS Whistle-Blower Hunts Trillions Hidden in Treasure Isles

John Christensen called Jersey home. A native of the scenic isle off England’s southern coast, he was a government economist with a hillside villa that had views of France. “I was set,” Christensen said last month in an interview at a London cafe. “We had a pretty good lifestyle and… Read More

Gold Seized at Heathrow Part of Cayman Money-Laundering Case: NCA

The UK National Crime Agency (NCA) has seized gold worth approximately £4 million as part of a money-laundering investigation into a suspected South American drug cartel. Law enforcement officials interdicted the gold in June at Heathrow Airport, where it was in the process of being shipped from the Cayman Islands… Read More
26th February 2019
A London court has ordered the HSBC bank accounts of the son of a former prime minister to be frozen, and for him to hand over hundreds of thousands of pounds to the authorities after police said they suspected the funds were linked to criminal activity. According to the National… Read More
6th February 2019
The Cayman Islands has been added onto the Netherlands new low-tax jurisdictions list, dubbed blacklist, of 21 jurisdictions considered to be tax havens, as Amsterdam looks to roll out new measures to combat tax avoidance. Companies registered in the jurisdictions on the list face paying 20.5% tax from 2021 on… Read More
1st February 2019
An MP on a parliamentary media committee has reportedly called for transparency about the ownership of the London Evening Standard following a report that the newspaper’s main owners are refusing to reveal the identity of a new stakeholder. According to the Financial Times, the paper’s Russian owner Evgeny Lebedev… Read More
27th August 2018
The UK’s parliamentary research department has published a paper on registers of beneficial ownership. The study outlines the beneficial ownership structure in the UK, and also looks at issues around its Overseas Territories. It explains that the UK has registers of beneficial ownership for three different types of assets: companies,… Read More
3rd June 2018
A Cayman Islands court has dismissed rival claims made by a Saudi Arabian family and the Cayman companies of a Kuwaiti-born businessman, finding both the family and the businessman to have defrauded scores of banks out of about $126 billion (£94.4 billion) over more than two decades. The ruling follows… Read More
4th May 2018
The Cayman Islands has accused the United Kingdom of applying an “apparent double standard” to corporate transparency issues, after British parliamentarians backed measures ordering it to publish a register revealing the true owners of its registered firms, while declining a motion for due diligence to be applied to the British… Read More
3rd May 2018
The British Virgin Islands has hit out at the United Kingdom’s plans for its Overseas Territories to publish publicly accessible registers naming the beneficial – or real – owners of firms, saying it already provides the UK with such information and the scheme could have a negative impact on its… Read More
2nd May 2018
Britain’s government agreed on Tuesday to order its overseas territories to make secretive company ownership information public to try to tackle corruption and tax avoidance. Overseas territories and crown dependencies have come under increasing pressure to reveal who is behind anonymously owned companies, with campaign groups saying such secrecy aids… Read More
13th February 2018
A quarter of property in England and Wales owned by overseas firms is held by entities registered in the British Virgin Islands, BBC analysis has found. The Caribbean archipelago is the official home of companies that own 23,000 properties – more than any other country. They are owned by 11,700… Read More
7th November 2017
Cayman Compass A long-anticipated review of Cayman’s anti-money laundering and anti-terrorism financing protections is due to occur next month and Attorney General Samuel Bulgin has warned the territory not to expect an easy pass. “We are fully aware that the upcoming review by the Caribbean Financial Action Task Force… Read More