Financial Transparency Coalition

LONDON – Christian Aid has welcomed a new from the World Bank for countries to exchange information about who really owns companies, bank accounts and other financial assets within their borders, in a bid to help recover the billions currently stolen from poor countries each year.

There is an ongoing saga of good versus evil. Valiant governments, with proud leaders at their helms, are devoted to bringing down the wicked tax havens and the conniving men and women who hide money on their shores. One day, we will tell the tale of how these governments reigned victorious, dismantling the shadow financial system, and restored the money to the rightful people of their nations. If only. Banking secrecy is no fairy tale. In the system of international tax evasion, the valiant heroes are just as guilty as the wicked witches. In a report to...