We've come across an interview in The Atlantic with Stephen Platt, an expert on financial crime prevention, contained in an article entitled How Dirty Money Gets Into Banks. As much as anything, we've taken it as an excuse to reproduce this fabulous cartoon in Britain's Private Eye magazine, which … [Read more...]
Archives for 2015
Links Feb 23
Cayman Islands Financial Services: Publication of Beneficial Ownership Consultation Submissions The Quiet Man Who Made Big Trouble for Little Luxembourg Bloomberg See also: ‘I am not a martyr’, says LuxLeaks whistleblower facing jail Financial Times (paywall), and recent blog Will Antoine … [Read more...]
The Tax justice Network’s February 2015 Podcast
Just what does a bank have to do to lose its licence?! We look at the fall out from #HSBCLeaks and ask how can we genuinely tackle criminality in global finance? Also: the latest research on fines and crimes in banking; why a recent threat to have UK Crown Dependencies and Overseas territories … [Read more...]
Transparency International calls on UK to prosecute HSBC
The leading anti-corruption group Transparency International has called on authorities in the United Kingdom to launch a criminal investigation into HSBC in light of recent accusations against the bank. … [Read more...]
Links Feb 20
Asian campaigners demand the OECD’s BEPS process do more for developing countries Global Alliance for Tax Justice India: Tax department to issue notice to HSBC on alleged money laundering The Times of India See also: India: Black money probe: Activists, experts fault government for tardy … [Read more...]
Links Feb 19
HSBC : University of Warwick - Top researchers in call for re-think over international undercutting; Expert team warns of 'race to the bottom' threatening living standards around the world 4-Traders TJN-Africa's most recent publications on Transfer Pricing in Africa: Transfer Pricing in … [Read more...]
Settling accounts: what happens after SwissLeaks?
From Koen Roovers, re-posted from Open Democracy: Settling accounts: what happens after SwissLeaks? By Koen Roovers, Financial Transparency Coalition A major leak of incriminating HSBC records last week resulted in print and television news coverage around the globe, trended on Twitter for … [Read more...]
How to deal with the likes of HSBC
We're going to quote from an article in 2012 by Matt Taibbi, in Rolling Stone magazine, which was examining the latest HSBC mega-scandal of the time. He was outraged, as we all should be, at the lightness of the sentencing in a case that had involved shifting money for the massacre-happy Mexican … [Read more...]
Links Feb 18
Map: Who’s hiding the most money in secret Swiss bank accounts? Washington Post Wonkblog Tanzania: Trio to face Public Accounts Comittee on Swiss billions Tanzania Daily News / allAfrica Swiss Leaks: Billions of dollars lost annually in Africa, says ICIJ Caperi Brazil probes link between … [Read more...]
New official warning: too much finance is bad for your economy
This is devastating. The Economist has just picked up on an issue that is at the core of TJN's Finance Curse analysis, with a new article entitled Warning: too much finance is bad for the economy. It notes: "One of the biggest political issues in recent years has been that Wall Street has done … [Read more...]
How much wealth does the median household have?
Forgive us for another UK-focused blog today, but there's a lot of British sleaze about at the moment. In this one we are going to highlight a graph, courtesy of the Bank of England (p10 here), which rather speaks for itself. Courtesy of David Quentin. Yes, yes, this ignores housing … [Read more...]
The “Miracle of Minneapolis” and a local ceasefire in tax wars
From The Atlantic in the U.S., an article entitled "The Miracle of Minneapolis" which looks at the demonstrable outperformance of this mid-sized U.S. city, in terms of being a good place to live. It's summed up in an old adage: ‘It’s really hard to get people to move to Minneapolis, and it’s … [Read more...]
HSBC scandal latest: how the bank captured a British newspaper
The article by Oborne, for those interested in Britain or keen to understand one of the tools that financial institutions use in 'capturing' the minds of the general public, it is well worth reading in its own right. It's devastating. The Telegraph, we should add, is owned by two very peculiar … [Read more...]
The Offshore Wrapper: a week in tax justice #51
No tax please, we’re British Where to start with HSBC and the SwissLeaks scandal? How about with the UK government’s wilful negligence when it comes to dealing with tax evasion? … [Read more...]
How Corrupt is Britain? New book coming soon
Watch David Whyte discussing the nature of corruption in Britain: Banks accused of rate-fixing and promoting tax evasion. Members of Parliament cooking the books. Major defence contractors investigated over suspect arms deals. Police accused of being paid off by tabloids. The headlines are … [Read more...]
