Every year, more than a trillion dollars are stolen from the poorest countries on earth.
Two MPs, Margaret Hodge and Andrew Mitchell, did a great thing on 1 May – they forced the government to open up the corporate registries of Britain’s Overseas Territories. This may seem like a niche piece of accountancy news, but it is one of the most important blows struck against global dirty money flows in years.
Most of Britain’s Overseas Territories are tax havens – although they prefer to be known as Offshore Financial Centres – which ensure the smooth and frictionless passage of capital …read more
Source: New Statesman
