France asks banks for more foreign transfer details

September 8th, 2009


PARIS – France wants its banks to provide more details on the identity of people transferring money to tax havens and wants a new legal framework to be finalised by the end of September, the budget ministry said on Tuesday.

French President Nicolas Sarkozy has been one of the most vocal of world leaders in calling for an end to banking secrecy and has pressured France’s banks to cooperate.

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