Tax News.com has an amazing story. It says:
The positive part played by the Isle of Man in the global war against financial crime has been highlighted by a key official from one of the US Treasury’s main anti-money laundering agencies.
William F. Baity - Deputy Director of FinCen, the Financial Crimes Enforcement Network - spoke of [...]
The Telegraph has reported that:
A row has broken out between the Channel Islands and the European Union over a decision to leave the tax havens off a ‘white list’ of countries deemed to have satisfactory controls against money-laundering.
Jersey, Guernsey and the Isle of Man have been placed by the EU on an ‘intermediate’ list of [...]
I note that whilst I was away there was some comment on the UK’s overseas tax haven territories not making it to the EU’s ‘white list’ of locations with equivalent money laundering standards to the UK despite places like Russia doing so.
I am not at all surprised. Places like Argentina, Australia, Brazil, Canada, Hong Kong, [...]
It was good to celebrate my 50th birthday this morning reading an excellent article in the Guardian with the above title. As the sub-title said:
Jersey’s status as a tax haven has made it one of the richest places on Earth. But there is a widening gulf between the millionaires of the financial sector and locals [...]
I’ve just been called by OSA Recruitment in the Isle of Man.
The told me they’d read my CV and wanted to know if I would relocate to the Isle of Man if the right package was offered.
They seemed quite shocked when I told them my opinion of the place.
Better luck next time guys.
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There was an article on Mondaq.com a few days ago entitled Guernsey - A World Class International Finance Centre. You have to take this seriously: Mondaq describes itself as:
one of the most comprehensive electronic resources of professionals’ knowledge and expertise. We provide legal, regulatory and financial commentary and information supplied directly by hundreds of the [...]
Mondaq.com has an article by Katherine Shea of Cains, Solicitors of the Isle of Man, which says:
Latest figures released by research agency Hemscott show that, of the non-UK top 100 companies listed on the London Stock Exchange Alternative Investment Market (AIM), by far the greatest number are incorporated in the Isle of Man, equal to [...]
The IMF is undertaking reviews of many offshore territories in 2008 with regard to their money laundering compliance.
Jersey is rolling out new legislation every few days as a result - which is sure evidence for me that external pressure works. And they have prosecuted one unqualified accountant for money laundering, which follows the normal pattern [...]
My correspondence with a member of the financial services community in Guernsey is continuing.
I have made a simple suggestion to him. This is that every bank in the Channel Islands and Isle of Man had a duty after 1 July 2005 to report all their customers to whom the EU Savings Tax Directive applied and [...]
