Money laundering trends, difficulties making suspicious activity reports and the latest anti-terrorism laws and business are under the proverbial microscope in the Cayman Islands today.
Compliance personnel from Cayman, the region and internationally gathered at The Westin Thursday for the first of two days in depth analysis of compliance issues at the Second Annual Caribbean Regional Compliance Conference.
The event was produced in conjunction with the fellow compliance associations of Bahamas, Barbados, BVI and Trinidad and Tobago. The Cayman Islands Compliance Association is presenting the conference.
David Thursfield, former RCIP commissioner and managing director of Cayman’s Financial Reporting Unit, spoke yesterday of the challenges his department faces while Paul Byron, US Department of Justice Representative for the CFATF and G8 and former War Crimes Trial Counsel, joined a team of speakers to discuss identifying crimes from within and without.
Today, issues such as an overview of the IMF Offshore Financial Centre Assessment Programme and the future of onshore and offshore corporate governance post Enron will be thrashed out.
Key speakers today include Calvin Wilson, executive director of the Caribbean Action Task Force and Bill McCloskey, chairman of the OECD Committee on Fiscal Affairs.