Archive for June, 2009
Forged Cayman Islands notes resurface
(CNS): Over the last few weeks a number of counterfeit CI$50 notes among others have appeared in circulation and have been turned over to the RCIPS’ Financial Crime Unit. AS a result of the continuing emergence of counterfeit Cayman Islands currency notes the Cayman Islands Monetary Authority (CIMA) and the Royal Cayman Islands Police Service (RCIPS) are urging the public to remain vigilant. Detective Sergeant Michael Montaque of the Financial Crimes Unit (FCUS) said people should not let there guard down and keep looking out for them.
“I’m particularly asking the business community to pay close attention to notes they receive,” Sgt. Montaque added noting that successful detection and prosecution in counterfeitcurrency cases is largely due to the public’s vigilance. The FCU urges business owners not to rely on the counterfeit detection pen for Cayman Islands banknotes. One quick and discreet way to check if a note is genuine is to keep a wet sponge handy and discreetly rub your wet fingers on the note. If the ink smudges then the note is a counterfeit.
“If you receive a counterfeit note, or suspect one to be counterfeit, we ask that you observe and note the appearance of the person passing the note, as well as that of any companions. Do not return the note to the passer. Instead, tag the note with a copy of the transaction receipt and call the police. If you have counterfeit report forms issued by the Financial Crime Unit, obtain as much information as possible from the person passing the note and write it on the form.”
He emphasizes that the public should not try to apprehend or hold persons presenting these notes. By taking the measures listed above, the FCU will have the best chance at catching these persons.
“Sometimes people who are unsure whether a note is counterfeit or not go ahead and deposit the note with the bank,” Montaque added. “Unfortunately, once it has been mixed with other notes it loses its evidential quality. We therefore ask that any suspect notes be tagged with the transaction receipt, placed in a protective covering such as an envelope and set aside for verification by the Financial Crime Unit.”
CIMA said genuine Cayman Islands currency notes bear a watermark in the form of a turtle, which can be seen when the note is held up to the light. The watermark on the C series notes also includes the letters ‘CIMA’ above the turtle. However it’s important to note that some counterfeit notes also have the watermark so you should not rely solely on this feature to determine if the bill is genuine.
Each C series banknote has a metallic thread running through the note from top to bottom. The thread is imprinted with the words ‘Cayman Islands.’ In counterfeit notes the thread, if it appears, usually looks transparent or white instead of metallic, and sometimes has a grey shadow alongside it.
Each $50 C series note has a silver foil imprint of a stingray on the edge of the note, to the right of the portrait of Her Majesty the Queen. On counterfeit notes, the imprint usually loses the silver colour and appears a flat grey.
Genuine $100 notes carry a shimmery, silver-coloured mark (called a hologram) in the shape of a Cayman schooner. This mark changes colour when the note is tilted. On most counterfeit notes, this feature appears a flat bluish-grey.
The serial number on each banknote is different. When receiving notes, you should therefore examine the serial number for any signs of tampering. You should also pay attention to the feel of the paper on which notes are printed. Genuine notes are printed on special paper that has a rough texture. Counterfeit notes have a smooth texture and will smudge when exposed to water.
Pay attention to notes of all denominations – from one-dollar bills upwards.
The Monetary Authority advises the public that it is not able to compensate people who come in possession of counterfeit notes. This makes it even more important for the public to be vigilant when handling currency notes. The RCIPS form for reporting counterfeit money can be found on the CIMA website www.cimoney.com.ky, under “Currency.”
NGOs fight EIB loans to tax haven based firms
(CNS): A coalition of international non-government organisations it going all out to campaign against the European Investment Bank’s (EIB) move to give loans to firms which the NGOs say are tax haven based multinationals. The Counter Balance coalition together with Eurodad, Tax Justice Network and Friends of the Earth said it will rally in front of the Council of the in Brussels in a symbolic action and has published a study on the EIB and its shadowy relationship with Tax Haven- based companies.
In a pres release yesterday the group said that the research reveals that there is a long list of EIB clients and projects in developing countries which use tax havens and similar secrecy jurisdictions. “One of the most used tax havens in the African region is Mauritius. This is particularly contradictory to the development purposes the EIB claims to have in poor countries because secrecy jurisdictions foster tax competition, allow bank secrecy and therefore corruption, and facilitate tax evasion and tax avoidance,” the NGOs stated.
The coalition said that the fight against tax evasion and tax avoidance, as facilitated by tax havens, has been put at the forefront of the political agenda in Europe in the aftermath of the global financial and economic crisis. European leaders have increased the public pressure on tax havens and offshore financial centres. French Prime minister François Fillon has said that tax havens are “black holes that should no longer exist”. Swedish Finance Minister Anders Borg has said “tax parasites” must be seriously dealt with. The release noted that the principles of transparency have been ratified by the European Parliament’s report on tax fraud saying that Europe should take the lead and make the elimination of tax havens worldwide a priority.
regulations in order to prevent tax evasion and foster good governance in tax matters.Yet the study shows that many projects and beneficiaries funded by EIB money involve tax havens and
transnational companies that use them for tax purposes.
“Yet in the last five years the EIB has loaned EUR 5.66 billion to the top tax haven users from the UK, France and the Netherlands, while EUR 210 million has gone to African funds using tax havens in their strategies. Furthermore, some of the major infrastructure projects financed by the EIB in the name of development happen to have close links with tax havens, which is also the case with financial intermediaries benefiting via the EIB’s Global loans,” it said.
Combined with the dramatic lack of transparency in the EIB which prevents concerned citizens’ groups checking up on the due diligence procedures or the evidence that is used, the EIB fails to make a convincing case that its money is all well-used according to its policy on fraud and corruption the NGOs added.
Masterclass for playwrites
(CNS): Those with an interest in the craft of playwriting are being given an opportunity to develop their potential talent in a workshop organized by the Cayman National Cultural Foundation (CNCF). Aimed at those who have some degree of playwriting skill it will offer aspiring wordsmiths the chance to explore the subject with one of the most respected theatre educators and directors in the Caribbean, Eugene Williams. (Left).
Director of the School of Drama at Edna Manley College of the Arts in Jamaica, Williams will host the five day workshop from 29 June which will focus on the essential elements of a script free of charge at the Harquail Studio Theatre from 6:30 pm until 9:30 pm.
Williams has assisted CNCF with the playwriting workshop since 1992 and his academic credentials include a Master of Fine Arts inTheatre from Brooklyn College and a Master of Arts in Performance Studies from New York University. He has worked with the Caribbean’s leading playwrights including Trevor Rhone the writer of “Smile Orange” and “The Harder They Come”.
When registering, workshop applicants must submit eithera completed script, a scene, a story they would like to turn into a play, or a concept and outline of their developing play so as to fully benefit from the workshop. All scripts must be the original work of the person submitting the script. Only 12 people are selected for the workshop. Registration is at CNCF’s office at the Harquail Cultural Centre. The final day to register is 24 June. The workshop is also a requirement to enter the upcoming CNCF National Playwriting Competition. The competition is open to anyone resident in the Cayman Islands. Details of which will be released in due course.
For more information contact CNCF Artistic Director Henry Muttoo at 949-5477 or by email at director@candw.ky
Challenge needed says Catron
(CNS): The anticipated challenge over the qualification for election of two Bodden Town candidates will be filed today (10 June) by a collective of Bodden Town voters, including well known artist Gordon Solomon and independent election candidate Sandra Catron. Although the group was unable to comment on the details of the petition itself, Solomon confirmed that it would be made before today’s deadline. “This will not go unchallenged,” he said. Catron told CNS that the challenge was needed in order to clear up the questions surrounding these representatives and uphold the Constitution.
“If this challenge is not made, the Caymanian people will forever question this election result and its legality,” she said. Catron noted that this was not a personal issue nor was it sour grapes, and she confirmed that she would not be running if the challenge, as is anticipated, results in a by-election. The challenge concerns the potential disqualification from office of the two United Democratic Party candidates, Dwayne Seymour and Mark Scotland. Scotland has been appointed as Minister for Health by Leader of Government Business McKeeva Bush and was returned as first elected member with more than 50% of the voter turnout.
However, both men failed to gazette the details of their business contracts with government in accordance with section 19 (1) g of the Constitution as they missed the 30 day deadline. Both candidates have insisted it was an oversight and their public contracts were already well known, so there was no intent to deceive. However, with numerous questions surrounding the consequences of this potential disqualification, neither the governor nor the attorney general (AG) has been moved to act either before or after the election. The opposition PPM members have chosen not to challenge the issue either, as they say it is should come from the AG or the governor.
Catron said that because there has been so much misinformation, misunderstanding and debate regarding the question, a legal challenge is required to push a definitive ruling on this issue once and for all. “People may criticise me and others for this but it is necessary for the Caymanian people and the Constitution, whether that is ever recognised or not,” shesaid. “This is a fight for right. We need to set the precedent and the people of Bodden Town deserve to know once and for all if their representatives are legal or not.”
Catron also said there were concerns that not only had Seymour and Scotland failed to comply with the requirements of the Cconstitution, they had continued to make erroneous statements that other candidates had also broken the law.
“They continue to perpetuate the lie that other candidates failed to comply. This is not true; it was a completely different issue,” Catron noted, adding that the candidates who declared their wider interest in the LA’s register of interests late fell under an entirely different law, the penalty for which is a fine. Not only is there no disqualification sanction, it is not in the Constitution. She also noted that despite comments to the contrary by Samuel Bulgin and Supervisor of Elections Kearney Gomez, the two had insisted that the AG and Gomez had both said they were qualified to stand.
Catron, however, said that above all she was really disappointed that those with the real responsibility had abdicated that and forced regular people who can ill afford this to question the legality of the representatives. “People cannot decide on a whim about what is legal and what is not,” she added.
When contacted by CNS, other candidates that had taken part in the General Election in Bodden Town agreed that the challenge was needed. Gilbert McLean, who said it was very unlikely that he would stand in any by-election that may come as a result of the challenge, still said it was important. “I am glad that this is going forward. Even if the two candidates are returned with 10 times the vote, we need to allow the law to take its course,” said Gilbert, noting that it is right to uphold the Constitution.
Osbourne Bodden, the PPM candidate who came in fourth — a few votes behind Seymour, said that it was still early days to make a decision about whether he would contest any by-election or not, but he felt the principle is what’s important and that the Constitution should be upheld by one and all. Although the PPM candidates and the wider party have been criticised for not challenging the qualification, former Tourism Minister Charles Clifford said it was not for them or for voters to uphold the constitution, but the governor.
“It is unfortunate that Governor Jack had once again exercised very poor judgement and allowed this matter to get to this point. He has failed in his primary responsibilities as the guardian of the Cayman Islands Constitution and ensuring good governance,” he said. “The governor’s claim that this was a matter for the attorney general and not for him is illogical and reckless. It is clear from the governor’s public statements that he was aware of the possibility that Messers Scotland and Seymour were both disqualified from holding office as MLAs by virtue of their own admissions.”
Clifford noted that it was the governor’s responsibility to ensure that the AG dealt with the issue before it got to the point where potentially it could cost the taxpayer money. He also added that he had not made a decision on whether he would make a second bid to regain his seat if the challenge resulted in a by-election.
It is understood that Dwayne Seymour and Mark Scotland will stand again if there is a by-election and it is ruled that they are qualified to contest the seat. Scotland told CNS that he and his colleague are prepared for the challenge and have the necessary legal support in place. He believes once it is over he will be back at his new desk in the ministry. He said that they never were disqualified and as far as he is concerned the issue was a "minor technical thing".
Broken main cuts water in eastern districts
(CNS): UPDATED 10:00 am.– The Water Authority has said that it is working diligently to complete repairs on a broken water main in Bodden Town area, located in the vicinity of Mostyn’s Gas Station which has caused the supply to be cut tin the area between Manse Road and the cemetery. Water has now been restored to all customers east of the cemetery, but they may experience low pressure while repairs continue. The authority said that the water is likely to remain off for the affected customers for approximately four hours while repairs take place and apologized for the inconvenience.
Journalist pushes for GIS salary details under FOI
(CNS): The office of the Information Commissioner said yesterday that Jennifer Dilbert is convening her first written hearing to determine whether Government Information Services (GIS) should reveal the exact salary, bonuses and expense detail of its staff to a journalist from the Compass. The request has been denied by GIS stating that it would be “unreasonable disclosure of personal information".
CNS contacted Fuller enquiry over the motivation for his request who forwarded a copy of an articel published in the Caymanian Compass in May which indicated that he had made requests regarding a number of salaries not least those of Members of the Legislative Assembly. However it is not clear why GIS salary details had been requested or if the challenge had been over all the declined requests, depite the apparent parametres of the hearing.
More information on the hearing can be found on the Information Commissioner’s website at www.infocomm.ky
Bush creates tax treaty team
(CNS): A new negotiating team has been established by Leader of Government Business McKeeva Bush to deal with matters relating to various tax information agreements (TIA) to get Cayman on the OECD’s ‘white list’. “We need to move forward expeditiously with these agreements to preserve our good reputation as a transparent jurisdiction which upholds high international standards of cooperation,” said Bush on Tuesday.
The requirement laid out by the OECD, as agreed at the G20 meeting in April, is that a jurisdiction should have a minimum of 12 bi-lateral tax agreements in order to be considered transparent enough to make the ‘white list’. Cayman currently has eight as well as a uni-lateral mechanism. The team created by Bush as the Minister of finance has cabinet approval to negotiate the necessary extra four that will meet the OECD standard. This week Bermuda signed its 12th agreement and was immediately prommoted to the white list.
“The intent is to ensure that the Cayman Islands meets and exceeds the minimum number of tax cooperation arrangements to enable elevation of the Cayman Islands to the OECD/G20 ‘white list’,” Bush added.
The TIA Negotiation Team will continue negotiations, which Bush said were already at an advanced stage, and conclude for final approval by cabinet tax information agreements with various countries. “The TIA Negotiation Team will now move these negotiations forward to signing as well as to pursue additional TIAs with other countries.”
The pace of signing agreements will be affected by the procedures of the country with which Cayman is seeking agreements, but Bush said he was confident that the Cayman Islands would be off the OECD ‘grey list’ within the new few months.
He added that the Cayman Islands will be signing an agreement with the United Kingdom next week, which will put the number of agreements held by the Cayman Islands at nine. The delegation to Europe will be led by the leader of government business and Governor Stuart Jack.
The TIA team is lead by Chief Secretary George McCarthy and includes the Attorney General Sam Bulgin, Financial Secretary Kenneth Jefferson, Senior Assistant Secretary Michelle Bahadur (Secretary), Managing Director, Cayman Islands Monetary Authority Cindy Scotland, CIMA Deputy Managing Director Langston Sibblies, CIFSA Chair Anthony Travers, and Paul Byles.
Shell pays $19.5m over Saro-Wiwa case
(ABC News): Oil company Shell has agreed to pay $19.5 million to avoid standing trial over accusations that it was complicit in human rights abuses in Nigeria in the 1990s. The families of nine people executed in 1995 accused Shell of collaborating with the country’s military regime to silence the activists for protesting against the oil company’s environmental practices in the Niger Delta. In 1990, the prominent Nigerian writer Ken Saro-Wiwa and other activists formed the activist group, aimed at exposing what they said was the environmental damage Shell was causing in the Niger Delta. They were also protesting against alleged abuses against the Ogoni people who lived in the area.
Attacked goat might have been molested
(Cayman 27): A local man’s goat is brutally killed. A tragic tale to begin with, the death becomes less animal cruelty and more sinister and twisted — that’s if you believe the owner. Wayne Wright told Cayman 27 reporter Kenneth Bryan that two weeks ago he found his largest goat stabbed in the stomach. What he didn’t tell the Department of Agriculture’s vet, Colin Wakelin, at the time was that he believes someone had sexually molested the animal before killing her.
Frederick’s ‘hazardous’ job
(CNS): McCleary Frederick has been named as the new director for Hazard Management Cayman Islands (HMCI). Currently the Deputy Director for Mitigation, Frederick, will take over from the current post-holder Dr Barbara Carby on 14 August, when her contract expires. Frederick joined the Portfolio of Internal & External Affairs in 2005 as Deputy Director (Designate) of a proposed national emergency management agency. He had previously served as the Planning Department’s Chief Building Control Officer.
He assumes his new position as a result of a development process implemented with the launch of HMCI in January 2007.
“We committed to finding an experienced emergency manager to get the agency started and to assist Frederick in his career change. We were very fortunate to attract a regionally and internationally renowned individual in Dr Barbara Carby and are indeed grateful for the contribution she has made,” said Deputy Chief Secretary and Chief Officer of Internal and External Affairs, Donovan Ebanks.
Frederick has gained extensive experience over the past few years, including an attachment with the Florida State Department of Emergency Management. Ebanks said he is confident that Frederick’s appointment is in Cayman’s best interests.
“In the past few years he has proven himself an excellent emergency manager. He performed especially well during the relief and recovery efforts in Cayman Brac and Little Cayman following Hurricane Paloma. I am delighted to be able to appoint him as the next Director,” Ebanks added.