Tag Archives | tax evasion

German-Greek arms deal corruption allegations stir renewed debate

The Self Propelled Howitzer “PzH 2000” of German Defense Company Krauss-Maffei Wegmann (KMW) “sets a worldwide standard”, according to the company. Athens bought the howitzers a decade ago for €200 million, a deal which is now the centre of allegations about dubious flows of money in connection with two former German parliamentarians. The PzH 2000 […]

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Public consultation in Jersey: chance to come clean

The use of shell companies to mask the true owners of assets is still on top of the political agenda and interest in the issue continues to grow. This week the UK government announced further details of its plan to implement a public registry of company ownership. This is important because shell companies can facilitate […]

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Shelving the shells

From one corruption fighting organisation to another, hats off to Global Witness. Founder Charmian Gooch and her colleagues have been recognised for their stellar efforts to highlight the damage done by corrupt practices in the extractives sector. In her award winning TED talk, Gooch highlighted the role of ‘the facilitators’ – global banks and global […]

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OECD moves forward on tax transparency

Last September G20 leaders moved towards greater transparency to crack down on tax evasion. They promised a “new global standard” to increase the exchange of financial information between countries. Whereas today tax authorities have to chase information from others authorities if and when they suspect foul play, this new standard will require any jurisdiction signing […]

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G8: It’s time for action on money laundering

The UK Government has announced that transparency and anti-corruption will be key elements at the G8 summit this year. Much needed action on money laundering provides an opportunity to live up to that promise. Corrupt money flows through the UK – in particular through our financial services industry. Nobody knows how much, but it is […]

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Whistleblowing in Greece: an alternative to silence

In September 2012, the US Internal Revenue Service awarded Bradley Birkefeld with US$104 million, as he provided prosecutors with detailed information about the “consultating services” that UBS AG offered to rich clients, thus enabling tax evasion. Within two months, new legislation on whistleblowers’ protection for federal employees came up by the US President Barack Obama. […]

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Money laundering – are BVI leaks a game changer?

Reposted from Transparency International UK The recent leaks of information about who actually owns the companies registered in the British Virgin Islands (BVI) offer a first glimpse for many people into this very murky world. For years, small amounts of information have trickled out – often through court cases – that indicate these so-called secrecy […]

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#offshoreleaks: 21st Century Journalism at its best

Around 260 Gigabytes of data from ten tax havens, 2.5 million documents, 130.000 persons from 170 countries concerned – a mega coup. But some questions are still to be answered. Today’s releases regarding #offshoreleaks include everything one can expect from good journalism in the 21st century: Collaboration: 84 journalists worked on the story, coordinated by […]

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New Report: Developing Countries Lost $5.86 Trillion from 2001-2010

Reposted from the blog of the Task Force for Financial Integrity & Economic Development. Task Force member Global Financial Integrity released their newest report on illicit financial flows from the developing world last night. The report found that $5.86 trillion left the developing world due to crime, corruption, and tax evasion from 2001-2010, $859 billion […]

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