Financial Transparency Coalition

The FT has reported:

Organised criminals in the UK are becoming increasingly involved in financial frauds including insider share dealing that they see as lucrative and low risk, investigators have warned. The trend – for 15 years a concern of US securities market regulators – is only now being explored in Britain where authorities are facing criticism for failing to co-ordinate on tackling financial crime. Paul Evans, Soca’s (Serious Organised Crime Agency) director of intervention, said those people targeted by his agency – which covers areas such as drugs, people trafficking and extortion –...

In this fascinating TED talk, Misha Glenny, author of McMafia, details the increased prevalence of organized crime since the fall of the Berlin Wall. Importantly, about ten and half minutes in, he focuses specifically on the deregulated global financial system, pointing to offshore banking as one of the biggest enablers of organized crime. He calls for new, effective, regulation – something he considers a necessity, and believes that it should come from the White...