ADVERTISEMENT
  • About Us
  • Contact
  • Advertise
  • Privacy Policy
  • Terms and Conditions
Thursday, February 25, 2021
No Result
View All Result
NEWSLETTER
Cayman Marl Road
  • Home
  • Politics
  • Business
  • Videos
  • Live Show
  • COVID-19
  • Election 2021
  • Legal Notices
  • Entertainment
    • All
    • Events
    • Music
    Caymanian writes, directs film for Netflix

    Caymanian writes, directs film for Netflix

    Beenie Man to be arrested after summons issued following illegal party

    Beenie Man pleads not guilty to breaking COVID-19 protocols

    10 Interesting Facts about Bob Marley

    10 Interesting Facts about Bob Marley

    Dancehall artiste Twani promotes positive body image with new single

    Dancehall artiste Twani promotes positive body image with new single

    Saved by the Bell star dead at 44

    Saved by the Bell star dead at 44

    Socarobathon

    Cayfest to rekindle entertainment industry

    Actor who lived in the Cayman Islands gives up major role after scandal

    Actor who lived in the Cayman Islands gives up major role after scandal

    Camana Bay introduces new VIP cinemas

    Camana Bay introduces new VIP cinemas

    J’can producer in Canada pays tribute to Dennis Brown in latest project

    J’can producer in Canada pays tribute to Dennis Brown in latest project

  • Lifestyle
    • All
    • Food
    • Health
    • Medical Experts
    Government signs contract with Aster Cayman Medcity – promising large scale medical tourism

    Aster Cayman Medcity new facility will be located in West Bay

    Diabetes makes a fatal heart attack more likely

    7 Surprising reasons you are not losing weight

    7 health benefits of eating dark chocolate

    7 health benefits of eating dark chocolate

    Food rations now implemented

    Foods to avoid if you have diabetes

    HSA to look at how COVID-19 has impacted cancer care in Cayman Islands

    HSA to look at how COVID-19 has impacted cancer care in Cayman Islands

    Diabetes makes a fatal heart attack more likely

    Diabetes makes a fatal heart attack more likely

    Public Health unveils Stage 2 vaccination plan

    Public Health unveils Stage 2 vaccination plan

    Bloating 101: How to make your tummy feel better?

    Bloating 101: How to make your tummy feel better?

    23 elderly Norwegians die after receiving Pfizer Covid-19 vaccine

    23 elderly Norwegians die after receiving Pfizer Covid-19 vaccine

    Concerns mount that some abuse vaccination program

    Concerns mount that some abuse vaccination program

    Trending Tags

  • Events
  • glossary
  • Home
  • Politics
  • Business
  • Videos
  • Live Show
  • COVID-19
  • Election 2021
  • Legal Notices
  • Entertainment
    • All
    • Events
    • Music
    Caymanian writes, directs film for Netflix

    Caymanian writes, directs film for Netflix

    Beenie Man to be arrested after summons issued following illegal party

    Beenie Man pleads not guilty to breaking COVID-19 protocols

    10 Interesting Facts about Bob Marley

    10 Interesting Facts about Bob Marley

    Dancehall artiste Twani promotes positive body image with new single

    Dancehall artiste Twani promotes positive body image with new single

    Saved by the Bell star dead at 44

    Saved by the Bell star dead at 44

    Socarobathon

    Cayfest to rekindle entertainment industry

    Actor who lived in the Cayman Islands gives up major role after scandal

    Actor who lived in the Cayman Islands gives up major role after scandal

    Camana Bay introduces new VIP cinemas

    Camana Bay introduces new VIP cinemas

    J’can producer in Canada pays tribute to Dennis Brown in latest project

    J’can producer in Canada pays tribute to Dennis Brown in latest project

  • Lifestyle
    • All
    • Food
    • Health
    • Medical Experts
    Government signs contract with Aster Cayman Medcity – promising large scale medical tourism

    Aster Cayman Medcity new facility will be located in West Bay

    Diabetes makes a fatal heart attack more likely

    7 Surprising reasons you are not losing weight

    7 health benefits of eating dark chocolate

    7 health benefits of eating dark chocolate

    Food rations now implemented

    Foods to avoid if you have diabetes

    HSA to look at how COVID-19 has impacted cancer care in Cayman Islands

    HSA to look at how COVID-19 has impacted cancer care in Cayman Islands

    Diabetes makes a fatal heart attack more likely

    Diabetes makes a fatal heart attack more likely

    Public Health unveils Stage 2 vaccination plan

    Public Health unveils Stage 2 vaccination plan

    Bloating 101: How to make your tummy feel better?

    Bloating 101: How to make your tummy feel better?

    23 elderly Norwegians die after receiving Pfizer Covid-19 vaccine

    23 elderly Norwegians die after receiving Pfizer Covid-19 vaccine

    Concerns mount that some abuse vaccination program

    Concerns mount that some abuse vaccination program

    Trending Tags

  • Events
  • glossary
No Result
View All Result
Cayman Marl Road
No Result
View All Result

CI Bureau of Financial Investigations freezes US$200 million

by CMR
February 04, 2021
in Finance
0
CI Bureau of Financial Investigations freezes US$200 million
62
SHARES
Share on FacebookShare on TwitterShare on Whatsapp
READ OUT LOUD!

(CMR) The Cayman Islands Bureau of Financial Investigations (CIBFI) has secured court orders freezing US$200 million, in a significant contribution to combatting money laundering and related offenses.

Chief Inspector, Richard Barrow of the Bureau explains the funds are “part of several ongoing international investigations and have been frozen by the jurisdiction as part of the investigative process. At present, the Bureau is involved in several active investigations, a small number of which relate to the potential financing of terrorism.”

CIBFI was established in March 2020, building on the work of an interim task force set up in April 2019. It is a separate entity from the Financial Crime Investigation Unit, which deals primarily with domestic financial crime matters.

The Bureau utilizes advanced law enforcement techniques in the investigation of complex, cross-border financial crimes while conducting a proactive analysis of intelligence alongside financial transactions.

It also provides outreach to private sector stakeholders, alongside the Financial Reporting Authority (FRA), on topics that include typologies and the findings from the jurisdiction’s National Risk Assessment. This is essential to ensure active collaboration between industry and law enforcement in the tackling of sophisticated organized crime. The Bureau’s work also forms a vital prong in the Cayman Islands’ strategy to meet and exceed international anti-money laundering standards.

The team consists of specialists with experience in the Cayman Islands, the UK, Jamaica, Trinidad and Tobago and Sweden following a strategic international recruitment campaign to ensure experienced and accredited financial investigators, police and civilian professionals and financial analysts. It is presently made up of eleven experts, including a specialist investigator in cryptocurrency transactions, but personnel numbers are expected to grow during 2021, as the Bureau develops and undertakes increasingly complex and sophisticated investigations.

The newly appointed Head of the Bureau, Victoria Templeman, is committed to developing the unit into a global centre for excellence, working in partnership with stakeholders nationally and internationally.

“The Cayman Islands Bureau of Financial Investigations is a vital partner to agencies and entities such as INTERPOL and EUROPOL. Investigation, collaboration and intelligence sharing with our counterparts across the globe position the Bureau as an essential part of international crime-fighting efforts when it comes to money laundering and related offences,”

Mrs. Templeman explains.

She adds: “The Bureau offers a diverse range of expertise, particularly with regards the quickly evolving area of cybercrime. It has also successfully harnessed home-grown talent, who offer a comprehensive knowledge of the vast and multifaceted financial services industry enjoyed by the Cayman Islands,”

The National Coordinator for the Anti-Money Laundering Steering Group (AMLSG), Elisabeth Lees, adds: “Although it is still in its infancy, the Bureau, along with the Office of the Director of Public Prosecutions, has already secured restraint orders, which are proven tools to prevent the dissipation of assets by money launderers. The team is essential for the Cayman Islands as we seek to ensure that we are investigating and prosecuting criminal cases in line with our risk profile and international standards.”

Join the CMR Community!

Join Cayman Marl Road on YouTube, Facebook or Instagram! for the latest discussions on all topical issues.

We welcome all viewpoints but ask for responsible commentary on our stories.

Have a tip for us? Email today!

 

Share your vote!


No, thanks.
How do you feel after reading this?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Related posts:

Cainvest Bank clarifies CIMA fine for defunct line of business
Cainvest Bank fined by CIMA - MLA Chris Saunders Managing Director
Governor pleased with Cayman's removal from EU blaclist
OffshoreAlert CEO weighs on McAlpine's stock fraud allegations
CMR

CMR

Next Post

Police host young people for career tour

Recent News

Australia passes law to make Facebook and Google pay for news content

Australia passes law to make Facebook and Google pay for news content

February 25, 2021
Police seek man who breached condition of release from prison

Police seek man who breached condition of release from prison

February 25, 2021
Police investigate death of UK man who fell from balcony

Police investigate death of UK man who fell from balcony

February 25, 2021
HRC: Quarantined voters disenfranchised and should be able to vote

HRC: Quarantined voters disenfranchised and should be able to vote

February 25, 2021
CI Bureau of Financial Investigations freezes US$200 million

Cayman on FATF grey list

February 25, 2021
J’can sentenced to six months for breaking quarantine in Barbados

Jamaican sentenced for curfew breach in Barbados freed

February 25, 2021
  • About Us
  • Contact
  • Advertise
  • Privacy Policy
  • Terms and Conditions

Copyright © 2021 CMR

No Result
View All Result
  • Home
  • Events
  • Election 2021
  • Legal Notices
  • Live Show
  • The Cold Hard Truth
  • Videos
  • COVID-19
  • Ask The Marl Road
    • Consumer Protection
    • What would you do?
  • Breaking News
  • Government
    • Road Closures
  • Rumor Has It
  • Investigative Reports
  • Business
    • Finance
  • Cayman Crime Watch
  • Celebration of Life
  • Community Notices/Events
    • Accidents
    • Police
    • Weather
  • Court Cases
    • Civil
    • Criminal
  • Entertainment
    • Events
    • Music
  • Family
    • Education
    • Fury Friends
  • Lifestyle
    • Food
    • Health
    • Medical Experts
  • News Roundup
  • Opinions
    • Polls
    • Cartoons
  • Politics
  • Regional News
  • Social Media Happenings
    • Jackass of the Day!
    • Lost & Found
  • World News
  • Cayman Small Business
  • Cayman Wellness
  • Tech News
  • Science
  • Sports
  • Weird & Unusual News
  • Advertorials

Copyright © 2021 CMR

error: Alert: Content is protected !!