Picture Of Grand Cayman Island
Chapter 5: Modernizing Infrastructure
Due to the narrow east-west extension of the island, rivers are short and mostly flow to the north or to the south with relatively small water volumes. The annual average rainfall is 1,200 mm. (48 in.) with 30 percent in winter season and 70 percent during the summer season. The heaviest rain falls in Sierra del Toa. The principal watersheds are: Cauto Watershed with 9540 sq. km.; Zaza Watershed with 2413 sq.km.; Guantánamo-Guaso Watershed with 2347 sq. km. and Toa Watershed with 1061 sq. km. The river lengths vary as follows: Cauto River with 370 km.; Sagua La Grande River with 163 km.; Zaza River with 155 km.; Caonao River with 133 km.; San Pedro River with 124 km.; Jatibonito del Sur River with 119 km.; Las Yeguas River with 117 km.; Cuyaguate River with 112 km.; Mayari River with 106 km.; Hondo River with 105 km.; Agabama River with 105 km.; and Toa River with 100 km. ... [Read More]
M) Money Laundering and Financial Crimes
Cayman Islands. The Cayman Islands, a United Kingdom (UK) Caribbean Overseas Territory, has made significant strides in its counter-money laundering program, though it is still vulnerable to money laundering due to its significant offshore sector. With a population of 40,000, the Cayman Islands is home to a well-developed offshore financial center that provides a wide range of services such as private banking, brokerage services, mutual funds, various types of trusts, as well as company formation and company management. Cayman Islands authorities report that approximately 580 banks and trust companies, 3,178 mutual funds, and 517 captive insurance companies are licensed in the Cayman Islands. In addition, approximately 45,000 offshore companies are registered in the Cayman Islands, including many formed by the Enron Corporation. ... [Read More]
Money Laundering and Financial Crimes
Cook Islands (Concern). This self-governing group of islands in the South Pacific maintains a free association with New Zealand. Cook Islanders are citizens of New Zealand, and the Cook Islands are part of the British Commonwealth. The Cook Islands have a well-established offshore sector known for its good asset protection features. Financial transactions through the Cook Islands' offshore center have received increasing international attention because of alleged ties to Russian criminal activities. The offshore services available in the Cook Islands include International Business Companies (IBCs), banks, insurance companies, and trusts. Marketers of offshore services via the Internet promote the Cook Islands as a favored jurisdiction for establishing IBCs and for its asset protection trusts. The anonymity and confidentiality offered to financial transactions through Cook Islands IBCs appear to be particularly attractive to those linked to money laundering and other questionable ... [Read More]
Money Laundering and Financial Crimes
(1) Patterns of Global Terrorism—1999, United States Department of State Publication 10687, April 2000.A wide-ranging joint FBI and Department of Treasury investigation into interstate cigarette smuggling, involving a suspected Hizballah terrorist cell operating in Charlotte, North Carolina, led to the July 21, 2000 arrest by U.S. authorities of 18 individuals. Ten days later a federal grand jury in North Carolina indicted these individuals, including seven suspected Hizballah supporters, for immigration fraud and related bribery and conspiracies; conspiring to smuggle contraband cigarettes; and conspiring to launder money. Many of the defendants continue to be detained prior to trial, while the investigation continues. At least seven of the defendants are suspected members of, or sympathetic to Hizballah, a foreign terrorist organization designated as such under U.S. law in 1997 and again in 1 ... [Read More]
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