New Body To Raise Money Laundering Awareness In Cayman Islands

Cayman Net News

03 September 2001

This story reproduced by kind permission of Cayman Net News at: http://www.caymannetnews.com

A major thrust of the Cayman Islands fight against attempts at money laundering in this country will be through education and promotion of a hign level of awareness.

This is the focus of the Cayman islands Anti-Money laundering (CAMLG), a new industry-wide body established by the Cayman Islands Monetary Authority and that body had its first meeting earlier this month.

"There have been tremendous efforts on the part of both the public and private sectors in combating money laundering. However, CAMLG with its industry-wide perspective, will enhance our ongoing efforts in the area of training," CAMLG Chairman, Mr Paul Byles, has said.

Bankers Association representative on the organisation, Mr Chris Richmond, said that the group will aim to provide assistance to ensure that there is consistency in traing standards across various industries.

CAMLG members are Mr Paul Byles (Monetary Authority), Mr Chris Richmond (Bankers Assc.), Mr Kevin Walton (Customs), Mr Martin Livingston (Compliance Assc.), Mr Paul Harris (Company Managers Assc.) Mr Ian Lambert (STEP), Mr Jude Scott (CISPA), Mr Robert Woods (FRU), Mr. David Bree (Fund Administrators Assc.), Mr. Eric Bosch (CIREBA), Mr. Neil Timms, (Cayman Islands Law Society), Mr. Seamus Tivnan (Insurance Managers Assc.)

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