April 5th, 2011
Time to black-list the tax haven whitewash Financial Times, April 4, 2011 Mexico sets rewards for reporting money laundering Associated Press, April 4, 2011 The Real GE Scandal Newsweek, April 3, 2011 African Countries Seek to Harmonize Tax Policy to Boost Revenue Bloomberg, April 4, 2011 Swiss grapple with tax benefits for rich MarketWatch, April
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April 5th, 2011
The international edition of the Financial Times has a
comment by TJN's
Nick Shaxson and
John Christensen evaluating how far the G-20 countries have progressed towards their stated goal of tackling banking secrecy and tax havens. The title says it all: "Time to black-list the tax haven whitewash."
In April 2009 British prime minister Gordon Brown, the then G-20 president, issued the
following commitment:
"to take action against non-cooperative jurisdictions, including tax havens. We stand ready to deploy sanctions to protect our public finances and financial systems. The era of banking secrecy is over. We note that the OECD has today published...
April 4th, 2011
This wasn’t meant to happen in the last decade.
Money laundering regulation was meant to have stopped the handling of drug cash in the USA.
The Patriot Act was meant to have closed down such things.
The FATF 49 recommendations were meant to have been in place.
But as the
Observer reported yesterday, US bank Wachovia, now part of Wells Fargo, money laundered hundreds of billions for Mexican drug gangs in the USA. And, when the activity was questioned internally from London, the money laundering officer who did so was driven out.
April 4th, 2011
Tax Havens: Bigger Than You Think, Closer to Home Than You Imagine The Nation (Blog), April 1, 2011 How a big US bank laundered billions from Mexico’s murderous drug gangs The Observer, April 3, 2011 Five Ways GE Plays The Tax Game ProPublica, April 4, 2011 Deutsche Bank fights tax ruling on £92m bonus pool
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