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08:00

Inside the Fight to Prevent Billions in International Money Laundering and Tax Shelters

AlterNet - By Micael Hudson - Dec. 05 (Special Report) - Britain has vowed to lift the secrecy covering the Cayman Islands and other financial sanctuaries operating under its flag. Dozens of rich nations have agreed — in an unprecedented example of global cooperation on offshore issues — to begin swapping information about assets stashed in foreign accounts. Another French president — François Hollande — has promised to “eradicate” tax havens. “Looks like the offshore party is over,” the Chicago Tribune said recently. Will this time be different? Many financial crime fighters are skeptical.

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