Financial Transparency Coalition

WASHINGTON DC - Today, the Southern District of New York sentenced Viktor Bout, also known as the Merchant of Death, to 25 years in prison, finally putting an end to his notorious career as a weapons trafficker. In November of last year, a jury convicted Bout on terrorism charges, including conspiring to kill Americans and conspiring to provide material support to terrorists.

With the €1 Trillion the EU governments lose each year to tax dodging at stake. The prospect of a debt ridden jobless future has EU the asking questions. DG TAXUD the tax arm of the EU civil service will prepare a communication by December on the broad topic of tax havens and unfair tax competition.

Last week Coutts, banker to the Queen, was fined £8.75 million for failing to take corruption risk seriously enough. The Financial Services Authority (FSA) found problems with over 70 percent of the client files they reviewed; in some cases, allegations that customers were involved in looting state funds were brushed aside by bankers keen to increase the bank’s profits - and presumably their own bonuses.