Prosecutors and law enforcement agencies in the Cayman Islands have access to a range of investigative tools under the Proceeds of Crime Act (2020 Revision) ("POCA"), Part VI.
Such powers include production orders, search and seizure warrants, disclosure orders, customer information orders and account monitoring orders.
This short guide, which forms part of McGrath Tonner's financial crime and anti-money laundering series, focusses on customer information orders.
Customer information orders
Cayman Islands Law enforcement agencies can apply to the Grand Court for a customer information order under sections 166 - 172 of POCA in support of three types of investigation:
- a criminal money laundering investigation;
- a confiscation investigation; and/or
- a civil recovery investigation
(section 146).
A "customer information order" is an order that a financial institution covered by the application shall, on being required to do so by notice in writing given by an appropriate officer, provide any such customer information as it has in its possession relating to the person specified in the application.
Before granting a customer information order, a Grand Court judge must be satisfied that the following requirements are fulfilled (section 168):
- in the case of a confiscation investigation, there are reasonable grounds for suspecting that the person specified in the application for the order has benefited from that person's criminal conduct;
- in the case of a civil recovery...
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