More News

The IMF Says Tax Havens Are a Danger to Society
June 10th, 2011
Cross-posted, with small amendments, from the Treasure Islands blog. A new report from the IMF (hat tip: Markus Henn) tallies surprisingly closely, at least in part, with what members of the Task Force have been saying for some time. Take this, for example, on the role of secrecy jurisdictions (the IMF prefers the term Offshore Financial Centers, or OFCs:)
Before the 2008–09 economic crisis, many banks and hedge funds used OFCs for off-balance-sheet activities such as the so-called special purpose vehicles or structured investment vehicles. These vehicles were typically funded in onshore financial...
Continue Reading
Treasure Islands: Following The Money To The Heart Of The Global Financial System
April 15th, 2011
Transcendent New Book Links Financial Crisis, Corruption, Crime to Offshore System It links terrorism to the financial crisis, corporate tax evasion to Mexican drug cartels, corrupt kleptocrats in developing countries to the ruling elites in some of the biggest countries in the world. It is the very opaque offshore financial system, and it is the focus of Nicholas Shaxson's enlightening new book, "Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens," which was just published in the United States this week. Reading like a John le Carré thriller, Treasure Islands whisks you from the echelons of...
Continue Reading
Follow @FinTrCo