Cayman Islands blacklisted by EU
Recently, the European Union has revised a list of countries that have satisfactory anti-money-laundering controls and made a decision to exclude the Cayman Islands from the “white listâ€.
The decision of the EU to leave tax havens off a “white list†of jurisdictions controlling money laundering in a satidfactory way has broken out a row the European Union and such offshore jurisdictions as the Cayman Islands, the British Virgin Islands Jersey, Guernsey, and the Isle of Man.
The Cayman Islands and the BVI have been excluded from the list, which means that they have been effectively blacklisted.
Guernsey, Jersey, and the Isle of Man have been placed on an “intermediate†list of financial centres which “may†meet compliance regulations. However, these jurisdictions claim that they have done their best to put to comply with anti-money laundering standards.