Money Laundering - Crime, Tax Evasion, Bribes and the Financial System / IPS Inter Press Service

Homepage

Latest News

Languages

About Us

Sunday, November 22, 2009 02:25 GMT

- Mideast &
Mediterranean

Iraq

HIV/AIDS

- Arts &
Entertainment

POLITICS: Two Kenyas, Two Dreams: Which Do We Want?
By Joyce Mulama
NAIROBI - Kenya's civil society has rebuffed efforts by its embattled government to restore its tattered image in the wake of waning public confidence in the state. Their major grievance is that the country's problems, including high level graft, are the result of a culture of impunity that has engulfed the nation's top officials and politicians.
MORE >>

/EXCLUSIVE/FINANCE: How One Fund's Profits Ended Up in the Caymans
By Lucy Komisar*
NEW YORK - President Barack Obama said he would crack down on firms that use offshore centres to evade taxes. He could begin with a New York subsidiary of one of the world's largest private banks, which used a Cayman Islands company to shift its profits.
MORE >>

FINANCE: Crisis Pits Vatican Against Offshore Bankers
Analysis by Lucy Komisar*
NEW YORK - The financial crisis has the U.S. swirling with charges about the immoral greed of some corporate executives who recklessly bet their companies' futures to line their own pockets. The popular fix for this international calamity stops at the nation's borders: decouple top-line salaries and bonuses from stock prices and institute more transparency and regulation.
MORE >>

CORRUPTION: Little Movement Against Tax Havens
By Julio Godoy
PARIS - As many feared, little action has resulted from the latest attempt to move against tax havens.
MORE >>

CORRUPTION: Norway Turns the Spotlight on Tax Havens
By Tarjei Kidd Olsen
OSLO - A new commission appointed by Norway will investigate ways of putting a stop to the huge flows of money into tax havens. Tax evasion and corruption are believed to cost poor countries at least 50 billion dollars a year.
MORE >>

ECONOMY-INDIA: Foreign Money Transfers Under the Scanner
By Paranjoy Guha Thakurta
NEW DELHI - With Indians spending more money abroad and even picking up blue chip firms the government has decided to take a closer look at suspected money laundering activity and dubious international fund transfers.
MORE >>

EUROPE: Tax Havens Cheating the Poor
By David Cronin
BRUSSELS - Tax havens in Europe are depriving poor countries of more money than they receive in development aid, it has been alleged.
MORE >>

RIGHTS-PERU: Terrorist Supporters or Victims of Witch Hunt?
By Ángel Páez
LIMA - Peru’s counter-terrorism police dismantled the local chapter of the Continental Bolivarian Committee (CCB-CP) and arrested its members on charges of supporting terrorism and having ties to Colombia’s guerrillas.
MORE >>

GERMANY: Corruption Feeds the New Market
By Julio Godoy
BERLIN - The revelation that hundreds of wealthy Germans have made illegal investments in Liechtenstein to avoid taxes, and the unearthing of new cases of corruption in top enterprises, raise new questions about the way the market economy is going.
MORE >>

CORRUPTION: Treaty Could Be Working – Or Not
By Haider Rizvi
UNITED NATIONS - Ongoing international talks on the question of how to strengthen a U.N. treaty against corruption are doomed to failure unless governments agree to take practical actions to demonstrate compliance, according to observers who are attending a major anti-corruption summit in Indonesia this week.
MORE >>

<< Back

	News Feeds RSS/XML
	Make IPS News your homepage!
	Free Email Newsletters
	IPS Mobile
	Text Only

Money laundering is the mechanism by which 'dirty' money is transformed into 'clean' money, ready to be funneled into the financial system without a trace of where it came from. Money laundering is a global issue, amounting to as much as 5 percent of global GDP, according to the International Monetary Fund (IMF).

Narco traffickers, terrorists, thieves, embezzlers, fraudsters, tax dodgers, corrupt public servants and politicians - all strive to make their ill-gotten gains appear legal.

IPS reports on how this is affecting developing countries around the world.