Sir, The presentation of your story “US probes target British business” (June 1) would lead readers to suspect that an avalanche of US-inspired investigations is about to descend on the Cayman Islands. A photo of Cayman that takes up more space than the copy lends much weight to this illusion.
The article summarises a report by the legal firm Freshfields Bruckhaus Deringer highlighting that British business is at the heart of foreign investigations into corporate corruption. On closer reading we are told that actually the majority of investigations – 64 out of 93 cases – involve US companies. Only three unfortunate cases are reported in the Cayman Islands; the fewest of all the countries noted in the article and seemingly therefore undeserving of the prominence of your illustration.
Bearing in mind the recent strenuous attempts by the Cayman Islands to raise awareness of its long-standing transparent tax information agreements with the US and all 27 European Union member states, it is unfortunate that the FT gives the impression of an opaque, crime-ridden regime. Perhaps pictures of the Statue of Liberty and Big Ben would have been more fitting.
Anthony Travers,
Cayman Islands Financial Services Association.