Report: £250 billion fraud in UK tax havens greater sum than 20 years of foreign aid budget
Russia most common place of origin for fraudsters using British overseas territories
A NEW report has identified over £250 billion in fraudulent funds directed through UK tax havens, more than over 20 years of the UK Government’s foreign aid budget.
The report, by Transparency International, examined the UK’s overseas territories, many of which act as tax havens for companies around the world to launder illegally obtained funds through.
The analysis comes as the Overseas Territories Joint Ministerial Council is set to meet in London.
'What happened at the bank had nothing to do with my nationality': former jailed banker Kweku Adoboli on his fight against imminent deportation
Facing the possibility that his deportation could begin at any moment, the former banker at UBS jailed in 2012 for fraud talks to CommonSpace about the motivations behind the ‘hostile environment’ policy and how our society is driven by ‘extractive capitalism’
KWEKU ADOBOLI, the former banker at UBS who was convicted in 2012 for fraud, could potentially be picked up at any moment and transported to a detention centre ahead of his potential deportation to Ghana, the nation of his birth.
Analysis: What would RBS have to do for the kow-towing from politicians to end?
RBS have once again been forced to pay a fine for reckless and potentially criminal behaviour. The list of offences is a long one, it’s owned by the state – but still our politicians are silent
SERIOUS fraudster. Multiple-offender. Destroys small businesses. Broke the economy. Rewards pure greed. Drains cash-strapped local authorities to finance PFI. Terrible at servicing its customers. Will likely break the economy again in the near future.
Reckless gamble: Meet the rogue trader risking everything to blow the whistle on the banking system
CommonSpace's Alasdair Clark speaks to former UBS trader Kweku Adoboli, who was jailed in 2012 for fraud, ahead of a legal decision on his future tomorrow
"ROGUE TRADER" turned whistleblower Kweku Adoboli was responsible for the "biggest financial loss" in British history. He is expected to find out his fate on Thursday after appealing his deportation to Ghana, having lived in the UK for 25 years. But while Adoboli may not appear a likely candidate for public support, the full story of his downfall is filled with intrigue and, importantly, exposé.
Scottish Government minister: UK should have jailed the bankers like Iceland
Keith Brown MSP called for prison sentences for financial services crimes
MARKET RIGGING, FRUAD, AND IRRESPONSIBLE LENDING PRACTICES of bankers in the UK financial services sector should have led to imprisonment of those responsible, according to Keith Brown MSP a Scottish Government cabinet secretary.
Brown, considering the disparity of response between the PS500bn banking bailout and lack of support for the ailing steel industry, said financiers had been responsible for "huge crimes" but hadn't faced appropriate punishment from the legal system.
Bank of England to be investigated by Serious Fraud Office over financial deals
Embarrassment for regulator as fraud investigation is launched into BoE conduct
LENDING by the Bank of England (BoE) during the financial crisis will face investigation by the Serious Fraud Office (SFO), following allegations of financial manipulation.
The UK's central bank lent money in 'liquify auctions' to banks on a wider definition of assets than had been allowed prior to 2007.