Offshore Banks

Offshore Banks Money Laundering
Offshore Banks Money Laundering Former Cayman Islands banking insider Robert Landori joined Ian Punnett for a discussion on the mega-trillion-dollar world of offshore banking and money laundering as well as the movers, shakers, con-men, and criminals who inhabit it. He explained that the popularity of off-shore banking is twofold: the accounts are secret, thus protecting them from oversight, and, as such, the account holder does not have to pay taxes on interest that is earned. While laws have been enacted to try and curb the use of off-shore banking to avoid paying taxes, he observed that these regulations are “very elastically interpreted.” Over the course of the evening, Landori also shared the story of being arrested for espionage in Cuba and detailed Hawala, a shadowy method of transferring money. Despite the popular notion that off-shore banking is a haven for white collar criminals, Landori actually contended that drug cartels and terrorists as the two main groups that are laundering money in secret banks accounts around the world. These nefarious forces, he claimed, account for a stunning thirteen trillion dollars circulating “in these secret jurisdictions.” Remarkably, he said, that massive figure only accounts for the illegal transactions being done via off-shore banking.. On why organizations like the CIA and MI6 do not police this activity, Landori asserted that they, too, use the system to facilitate their covert operations. Navigating the maze of illegal …From:DisclosureBubbleViews:4 1ratingsTime:02:39:23More inNews Politics

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Offshore Banks