Jul 08

Hidden Money in Tax Havens

Much of the money in the world is hidden in 44 tax havens. Territories evaded tax shelter they hide who they are owners of wealth, holders who suspect financial transactions and transfers which smelly big cities. Lack of transparency, darkness, secret accounts, traps accounting and financial crimes. It's all tax havens. But the crisis has left them with shame into the air. Has shown that sewage system are accomplices essential disaster.

Associated with tax evasion, money laundering, financial crime and organized crime, tax havens are finally at the point of view. But make no mistake. Have been able to carry everything done because the States have looked the other way and the banks have allowed them to live and breath. Tax havens up a scenario of lack of solidarity, greed and deception. But for decades have enjoyed complete impunity. Carlos Jimenez Villarejo, who was Spain's Anti-Corruption Prosecutor, reminds us that European and international conventions against tax evasion, financial crimes and organized crime have omitted any reference to tax havens. As if they did not exist. The United Nations Convention against organized crime and banking secrecy rejected called for an investigation of money movements result of the crime, but made no mention of tax havens. In 1988, an agreement in Basel on the use of the banking system by organized crime, calling for more commitment and diligence to prevent the financial system was used illegally. But no one named tax havens. In April 1997 the Council of Europe recognized that organized crime uses banking for tax evasion and money laundering.

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