Jump to navigation

Vol 2 (AAC) No 5

Published 1st March 2009


Congo-Brazzaville

Banking on secrecy

Finance ministers will come under heavy pressure at the G-20 meeting on 2 April in London to crack down on tax havens and the banking secrecy regimes that have facilitated so much capital flight from developing countries to Western jurisdictions. In the short term, Asia's banks and financial systems are likely to be the beneficiaries. UBS and Credit Suisse are relocating their private wealth operations to Asia, where due diligence is a regulatory requirement but is often not enforced.

End of preview - This article contains approximately 517 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.


If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.