December 5, 2020

Cayman Islands: Know Your Money: Don’t be a victim of fraud

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Following the success of last year’s fraud prevention seminar, the Cayman Islands Monetary Authority (“CIMA” or “the Authority”) in collaboration with the Royal Cayman Islands Police Service’s (RCIPS) Financial Crime Unit (FCU) and the Cayman Islands is proud to present the 9th annual “Know Your Money” Fraud Prevention Seminar.
The seminar will take place on 15-16 November 2017, at the Chamber of Commerce conference room, Governor’s Square. The seminar is split into four half-day sessions; with the morning sessions commencing at 8:30 a.m. and afternoon sessions commencing at 1:15 p.m.
Representatives from RCIPS FCU and Cayman Islands banknote printers, , will present on topics such as identifying banknote features, phishing and cybercrime, counterfeit detection and credit card fraud.
Although these seminars are primarily geared towards business leaders and their employees, the sessions are also open to the public. With the approaching holiday season, there tends to be an increase in cash transactions. Therefore, it is imperative that the public be educated on methods that will prevent them from becoming victims of financial fraud.
CIMA’s Managing Director, Mrs. Cindy Scotland stated, “Over a period of nine years, the Authority has taken great pride in co-hosting this informative event. The techniques that the public will learn from the seminar are invaluable and will go a long way in preventing fraudulent crimes.”
On behalf of the RCIPS, , Mr. added, “The Financial Crime Unit of the Royal Cayman Islands Police Service continuously looks forward to the annual partnership with CIMA where collective ideas are shared and a forum for bringing awareness to stakeholders is cultivated. The fight against fraud is of specific interest to the jurisdiction hence a collaborative approach is essential”.
Mr. Will Pineau, CCE, Chamber CEO expressed that, “The majority of our members are small-and-medium sized businesses, and this makes them easy targets for criminals as they do not have the same financial and informational resources for security as larger organisations. These free seminars are perfect in providing advice to the small business community, helping them to detect counterfeit currencies, monetary scams, and more.”
Businesses are strongly encouraged to register their staff for one of the free sessions. Members of the public can register via the Chamber of Commerce’s website or call the Chamber’s Office at 949-8090.
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