The Royal Cayman islands Police Service (RCIPS) have confirmed the woman who was wanted by them for questioning in their investigation into the alleged misappropriation of mortgage commitment fees from the Scotia Bank and Trust Cayman Limited has been arrested.

The woman aged 45, an employee at the Bank, was arrested on April 29^th on her return to Grand Cayman on suspicion of theft and released on police bail.

It was in October last year the Financial Crimes Unit announced they were conducting an investigation into internal bank fraud at Scotia Bank and Trust.

The bank said immediately it was revealed the investigation was taking place that they had notified the police and were working in co-operation with them.

“We hold employees to extremely high standards and do not tolerate any actions that do not meet those standards – at the hint of wrongdoing we take swift and decisive action,” the bank spokesperson said.