Cayman in the 2000s: Compliance

Long-time banker and former president of the Cayman Islands Bankers Association Eduardo D’Angelo Silva said that historically throughout the world, bankers didn’t feel a need to know their customers before the 90s.   “Bankers felt they weren’t policemen,” he said. “They felt it wasn’t a banker’s role to ask questions.”

Part 2: The freewheeling 1970s: The Cayman Islands: From obscurity to offshore giant

Buoyed by the passage of investment-friendly legislation, infrastructure improvements and the political instability of one of its largest offshore competitors – the Bahamas – Cayman suddenly found itself on the map of more than just scuba divers. Following the bold steps taken in the 1960s to make Cayman more attractive as an offshore financial centre, the government continued to act; sometimes in cooperation with the British government.