Sir, -I would like to clarify an ambiguity which appeared in Lara Marlowe's article on money laundering (The Irish Times, June 23rd).Ms Marlowe stated that, "in just one year, the Caymans have amended, revised or enacted nine law on customer identification, record-keeping and the power of the financial supervisory authority to monitor complaince."She also added that the "failure to report a suspicious transaction has become a crime in the Caribbean paradise, which has also committed men and money to a financial intelligence unit."It should be made clear to your readers that, aside from enacting the first English Mutual Legal Assistance Treaty in 1986,the Cayman Islands enacted the Misuse of Drugs (anti-money laundering amendment) in 1989 and the Proceeds of Criminal Conduct Law on September 20th, 1996.This was well before either the OECD's or FATF's initiatives and consequently, failure to report a suspicious transaction has been a crime within the Cayman Islands for more than a decade.In addition, the Financial Intelligence Reporting Unit was set up in the autumn of 1996.I believe that this demonstrated the forward thinking of the Cayman Islands governments in not only discharging their international obligations but also to some extent being the forerunner of legislation which has now been adopted more recently by other jurisdictions.-Yours, etc.,Charles G. Quin, George Town, Cayman Islands.