Links Jul 17

Who Aids Whom? Exposing the True Story of Africa’s $192 Billion Losses Think Africa Press
See also: Aid to Africa: donations from west mask ‘$60bn looting’ of continent The Guardian, and recent blog Honest Accounts? The true story of Africa’s billion dollar losses

Network against illicit financial flows launched in Zimbabwe EIN News

Leaked agreement shows Tanzania may not get a good deal for gas African Arguments

Tanzania: We may never get back the Swiss billions, experts say The Citizen

Kenya: Tax evasion sting recovers Sh25bn from multinationals Business Daily

Vulture funds – Elliott versus Peru: a terrible precedent Red del Tercer Mundo (In Spanish)
Hat tip: Jorge Gaggero. See also the recent Offshore Wrapper on vulture funds here. For Jubilee USA’s explanation on vulture funds see here, and on the Elliott vs Peru story here. See also What Happens When the Vulture Funds Start Circling The Wall Street Journal for a summary of “some of the biggest battles to have played out between vulture funds and their sovereign debtors” – note offshore connections in these stories, including BVI, Cayman, and Jersey.

Niece of shadowy ex-government fixer arrested on money-laundering charges El País
Story involves a complex web of financial structures to launder the stolen money, via Switzerland, Cayman Islands, Gibraltar, Hong Kong, Madeira and Luxembourg.

Luxembourg Ink-Outs Not Dark Enough to Hide Shiny Tax Deals Bloomberg

Investigators Probe the Ways a Swiss Broker Courted Libyan Business The Wall Street Journal

UK: Criminals are laughing at the government’s corporate ownership register politics.co.uk

British overseas territories leaders meet in Cayman Caribbean News Now!

Cyprus signs the CoE-OECD Convention on tax matters Balkans Business News

Jersey Silence Financial Secrecy Media Monitor

Allegations that Seychelles has helped Sri Lanka to transfer funds to Swiss banks are “false” says Seychelles foreign minister Seychelles News Agency
See also earlier blog Murky Seychelles tries to wriggle free of tax haven taint

UK: HMRC publishes list of suspect tax avoidance schemes BBC

Czech tennis champion Kvitová faces storm over Monaco tax haven Radio Prague

Barclays’ Compliance Programme – A Triumph of Hope over Experience Rowans-Blog
On a proposed Financial Compliance Centre being set up at the Judge Business School at Cambridge University, in conjunction with Barclays Bank. See also recent TJN blog Cambridge University: the Chinese government connection

Alex cartoon 17 July
A witty view on corruption in the banking world


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Banking Secrecy in China, its related territories and Taiwan

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Is tax avoidance at the heart of Ireland’s economic miracle?

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New Report: HMRC’s “Building our Future” programme

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Financial secrecy in football: time for action

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