Bank shuts down money transfer business
(CNS Business): Fidelity Bank leaders said that due to “economic times and risks” they have officially closed the doors to their money transfer service, Western Union, throughout the Cayman Islands. The Board of Directors of Fidelity Bank & Trust International Limited (FBT) and its subsidiary boards have announced that they will no longer offer Western Union at its branches and sub-agent locations. Read more and comment on CNS Business
Category: Local News
Western Union was, and always has been, one of the easiest and least regulated ways of moving ‘hot’ money off the island and committing online fraud. No loss here.