Here is the rewritten article in Markdown format:

Financial Crimes Prevention Takes Center Stage in Cayman Islands

The Financial Crime Investigation Unit (FCIU) has been working tirelessly to combat financial crimes such as money laundering, terrorist financing, and fraud. With an impressive track record of investigating 93 financial crime cases during 2016 and 2017, resulting in cash seizures, asset restraints, and convictions.

Effective Investigations

Detectives with the FCIU work closely with the Office of the Director of Public Prosecutions (ODPP) to pursue complex cases, gathering comprehensive evidence that leads to authoritative verdicts. Recent notable court results include:

14-year sentence for immigration fraud
8-year sentence for university fraud
12-year sentence for financial abuse
20-month sentence with deportation for a Bulgarian national found in possession of cloned bank cards

Online Scams

In addition to major cases, FCIU detectives investigate online scams that have become increasingly common due to the rise of internet- based commercial transactions and online banking. These scams often involve phishing emails or fake job advertisements designed to deceive victims into revealing personal information and funds.

International Cooperation

To combat these international financial crimes, the FCIU relies heavily on law enforcement cooperation with other jurisdictions and develops relationships with overseas agencies through mutual legal assistance treaties (MLATs) and international letters of request.

Local Partnerships

Locally, the FCIU works closely with Cayman Islands agencies, including:

Financial Reporting Authority
Cayman Islands Monetary Authority
Department of Commerce and Investment

The unit also organizes an annual Fraud Prevention Seminar in collaboration with these agencies, local banks, De La Rue, and other overseas law enforcement agencies.

Professional Detectives

FCIU’s detectives are certified financial investigators who receive continuous training in areas such as:

Cash seizures
Forfeiture
Asset confiscation
Restraints

With their expertise, the unit functions with a high level of professionalism and effectiveness.

Cayman Islands Launches Stakeholders Forum to Combat Financial Crime

In response to the CFATF Recommendations, the FCIU has established a Stakeholders Forum, a public- private partnership aimed at elevating the standard of intelligence sharing and analysis. The forum provides an environment for industry, law enforcement, and regulatory authorities to share sanitized information and intelligence to detect, prevent, and disrupt money laundering and economic crime threats.

Objectives

The objectives of the forum include:

Developing a collaborative relationship between public agencies and regulated entities
Evolving public- private consultations into mainstream component of the AML/CTF/ PF regime
Providing updates on emerging international trends
Educating frontline staff
Creating a collective response to financial crime

The COVID-19 pandemic has led to unprecedented global challenges for law enforcement activity and economic disruption. The RCIPS FCIU has highlighted increases in fraud and cybercrime due to the crisis, while ARIN CARIB Report reveals how remote hearings in asset recovery matters triumphed over COVID-19.

Strengthening National AML/CFT Structure

In response to these challenges, the Cayman Islands is strengthening its national AML/CFT structure to prevent and combat financial crimes. The country’s efforts are focused on creating a collective and sophisticated response to financial crime, driven by better-informed law enforcement agencies, regulators, and industry professionals.