Cayman Islands Is The New Switzerland, But Not The Way You Think — forbes.com

Are the Cayman Islands The Next Offshore Target? The U.S. has cast its tax net far and wide, more a shotgun than a rifle shot. Mixing fishing and shooting metaphors seems appropriate to show just how no-holds barred American tax officials and prosecutors can be. Yes, boxing too. The Cayman Islands have had a curious history. They have a big banking industry featuring hundreds of banks doing offshore business. There are vast numbers of branches of foreign banks, too. Financial services is a major employer, and the industry generates billions of dollars. It comprises a large portion of the total economy. 

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