A recent article in the distinguished “The Economist” magazine comments on the rich countries of the OECD who often accuse and harass small poorer countries as easy paths for “dirty money”. It mentions, as we have before, their hypocrisy in that they themselves are blatant offenders of the standards which they have established.
The article comments on a damning report of the OECD’s own official Financial Action Task Force (FATF) stating that anonymous “shell” companies are easier to set up in the OECD member countries s (especially America) that in the so-called tax havens. Very few of the OECD countries apply the FATF rules to lawyers and corporation agents who easily set up “opaque” ownership structures. The report concurs with our call that the OECD countries practice what they preach and in the coming year follow their own standards.
(Link to the article https://www.economist.com/news/international/21591879-forum-rich-countries-issues-overdue-mea-culpa-rich-smell)
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