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By John Redman

 

August 6, 1997

Cayman government denies banks will be opened to foreign inquiries

Intro:
 

The local government of the Cayman Islands on Wednesday denied reports it is under pressure from Britain to open hundreds of offshore banks to tax inquiries from foreign governments.

''It is not at all correct,'' government spokeswoman Pat Ebanks said of a report last week in the newsletter Offshore Alert.

 
[KYC News Comment: Within months, OffshoreAlert's article was proven to be accurate when Cayman passed land-mark legislation allowing foreign countries to gain tax-related information.]
 

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