The alternative offshore awards: an idea whose time has come?

FSMFrom the Financial Secrecy Media Monitor:

“Thanks to a promoted tweet from Jersey Finance comes news of the International Fund & Product Awards 2014, in which Jersey won the Best International Financial Centre award.  Other winners were Standard Bank Offshore Group for Best International Banking Service and BNP Paribas – currently awaiting a billion dollar settlement for sanctions violations in the US – who were “highly commended” as Best International Fund Group.

Since the offshore industry seems to regularly give itself awards, perhaps an alternative annual prize ceremony could be organized, inspired by The Intruders and their award for “innovation in interest rate manipulation” given to Barclays in 2012.

Some first ideas for award categories:

– Dodgiest offshore citizenship scheme

– Most creative registration of intellectual property for tax purposes

– Pseudo-academic offshore PR campaign of the year

– “We are not a tax haven” denial of the year

– Special achievement in profit shifting by a multinational

Maybe Bill Nighy could emcee?

The Public Eye awards (latest winner: Gazprom, achieving the remarkable feat of beating FIFA) is perhaps the closest we have to such a thing, though offshore is only one of a range of things they look at. We’d do it, but we aren’t exactly bursting with spare human capacity over here at TJN Towers. Anyone want to give it a go?

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About The Author

Nicholas Shaxson is a journalist and writer on the staff of Tax Justice Network. He is author of the book Poisoned Wells about the oil industry in Africa, published in 2007, and the more recent Treasure Islands: Tax havens and the Men who Stole the World, published by Random House in January 2011. He lives in Berlin
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