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For criminals moving large sums of dirty money internationally, there is no better device than an untraceable shell company. This paper reports the results of an experiment soliciting offers for these prohibited anonymous shell corporations. Our research team impersonated a variety of low- and high-risk customers, including would-be money launderers, corrupt officials, and terrorist financiers when requesting the anonymous companies. Evidence is drawn from more than 7,400 email solicitations to more than 3,700 Corporate Service Providers that make and sell shell companies in 182 countries. The experiment allows us to test whether international rules are actually effective when they mandate that those selling shell companies must collect identity documents from their customers. Shell companies that cannot be traced back to their real owners are one of the most common means for laundering money, giving and receiving bribes, busting sanctions, evading taxes, and financing terrorism.

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The Cayman Islands has been granted top billing of “Offshore Domicile of the Year” at the 2012 Captive Live conference in Chicago.

Hosted by Captive Review magazine, the conference hosts more than 400 captive management professionals and captive owners from across the United States.  

  The Cayman Islands Monetary Authority (CIMA) is pleased to announce the appointment of Mr. Alan Morris to the position of Chief Actuary, reporting directly to the Managing Director. “Mr. Morris will ensure the integration of risk modeling into the risk management framework and will provide analytical support and technical guidance to the various Divisions within CIMA,” Managing Director, Cindy Scotland said. “We are pleased to have him as part of the CIMA team.”

Cayman Finance Chairman, Richard Coles, discussing the new Cayman Islands budget on Cayman 27.  Click here to view the video

The Financial Services Group says government never consulted with it as to the impact direct taxation on income will have in the Cayman Islands. Cayman Finance Chair, Richard Coles, says his group has received no details on the payroll tax other than what’s been reported in the media.  View the video here http://www.cayman27.com.ky/2012/07/26/financial-services-not-consulted