Tag: Cayman Islands Bureau of Financial Investigations
Cayman victims conned in shāzhūpán scam
(CNS): The RCIPS has said that the Cayman Islands Bureau of Financial Investigation has received dozens of reports from Cayman residents as well as from people overseas involved in crypto-companies registered here that they had been conned out of millions of dollars through what is commonly known as “pig butchering” or a shāzhūpán scam.
Developers pose major AML risks
(CNS): As property development and construction continues to surge across the Cayman Islands, it’s not just the natural environment that is at risk. The large number of developments for commercial purposes, especially beach and waterfront condo and apartment projects, are posing a risk to the jurisdiction because of their vulnerability to money laundering.
New offshore cops seize $200M dodgy cash
(CNS): The Cayman Islands Bureau of Financial Investigations (CIBFI), a new law enforcement arm focused on investigating crime in the offshore sector, has seized US$200 million as part of a number of live investigations into money laundering and terrorist financing. The fledgling agency is still under development and was created to meet international demands for […]
