The Cayman Islands Monetary Authority ("CIMA") has undertaken various educational initiatives over the years to help promote and enhance market confidence while protecting the reputation of the Cayman Islands as a leading financial services centre.
CIMA partners with several tertiary education institutions and stakeholder organisations to participate in informational presentations. Additionally, on occasion, staff are invited by a regulated entity or industry association to conduct presentations on regulatory activities, supervisory objectives, and other key matters related to the financial services industry. Representatives of our senior management team are also regularly invited as speakers at various high-level conferences.
The Know Your Money Fraud Prevention Seminar, held annually in observance of International Fraud Awareness Week, is a collaborative effort between the Royal Cayman Islands Police ("RCIPS") Financial Crime Unit, the Chamber of Commerce and the Authority’s Currency Division. Experts from De La Rue, the Cayman Islands banknote printers and the United States Secret Service are also on hand to take part. The one-day seminar targets small business owners and front-line employees to educate them on counterfeit detection of the CI and US Dollars, credit and debit card fraud, identify theft, and other popular or emerging fraudulent activities. The RCIPS discusses the role of the Financial Crime Unit in handling complaints and conducting investigations.
To ensure that the integrity of the Cayman Islands currency is maintained, the Authority also conducts regular training sessions for local government service agencies, specifically frontline staff, to help combat counterfeit criminal activity. During the training, participants learn about security features of a genuine banknote including ways to detect forged ones.
CIMA is an avid participant of the World Investor Week ("WIW") campaign, which is organised by the International Organization of Securities Commissions. Each year, the campaign is designed to promote financial resilience and help investors make sound decisions. To maximise public awareness, we also encourage the local financial services industry to take part and present various tips that encourage investors and consumers to make smart investment choices.
To learn more about WIW, visit www.worldinvestorweek.org