Washington lobbyists and lawyers helped launder millions of dollars for allegedly corrupt African politicians and their relatives, according to a two-year-long investigation by a Senate panel.
Standing at the pump, watching the numbers tick away, do you ever wonder where the money goes? You’re not alone: People on the other end of the pipeline are wondering too. While we feel the pinch in our pockets, citizens of oil-producing countries are often not seeing the profits.
Huguette Labelle, Chair of Transparency International, presents the 2009 Corruption Perceptions Index (CPI), which measures the perceived level of public-sector corruption in 180 countries and territories around the world. The CPI is a “survey of surveys”, based on 13 different expert and business surveys.
The USA topped the Financial Secrecy Index. The state of Delaware was used as an example of incorporation practice for the purposes of the research – because unlike most places surveyed the US research necessarily had to be based on both federal and state law. This short video explains some of the issues involved, many of which have been quite unsettling for commentators in the USA who have been surprised to find themselves at the centre of a debate on secrecy jurisdictions.
Al Jazeera’s People & Power investigates the appropriation of natural resources by the Republic of Congo’s leaders, leaving the majority of the population to live in poverty.
In March 2009, during the run-up to the G-20 Summit in London, activists from all over Europe visited the British Channel Island of Jersey to highlight the role of tax havens in the global crisis.
Sarah Lewis, the executive director at the Tax Justice Network, discusses what the UBS settlement will mean for offshore banking on Reuters.
Swiss-American Chamber of Commerce CEO Martin Naville, Global Financial Integrity Program Legislative Director Heather Lowe and Campaign for Liberty Senior Vice President Jesse Benton on the U.S. striking a deal to get the names of some holders of secret Swiss bank accounts in an effort to get more tax revenue.
Bloomberg: Grano says UBS ignored the suggestion of selling its wealth management division.
A personal experience from the Isle of Man: “I deposited my life savings with Kaupthing Isle of Man which promised me that my money was safe in its hands. Then on 8 Ocotber 2008 it closed its doors! Now I have been reduced to near poverty. I can’t claim social security because I have a half share in a house but I can’t sell my half share. Banks on the IoM want your money and tell you anything to get it, but if they go belly up you are sunk! So, my advice to everyone is ‘don’t bank on the Isle of Man’”
FBI agents have arrested several prominent high-profile political and religious leaders throughout the state of New Jersey over an alleged corruption ring. Kelly Wallace reports from Newark.