Tax Justice Network reaction to #FinCENFiles leaks
The USA ranks as the second most dangerous secrecy jurisdiction on our 2020 Financial Secrecy Index. The reaction to #FinCENFiles is here >>
"Some of these people in those crisp white shirts in their sharp suits are feeding off the tragedy of people dying all over the world" Here's our reaction to #FinCENleaks A catalyst to address gaping flaws in the regulation of corrupt finance & tax abuse?
Parallel to the #UNGA this year the #FinCENfiles leaks "show that the biggest financial market in the world has comprehensively failed to play its role in regulating cross-border flows of suspicious money." What is the multilateral response?
One quibble. While is surely right that US regulation of banks is ahead of the EU, the US is repeatedly and deliberately non-cooperative internationally - hence their #2 ranking on the Financial Secrecy Index. And per our #FinCENFiles response
“The FinCENFiles expose 2 major flaws in the global regime to combat illicit financial flows – the process by which financial secrecy jurisdictions are able to facilitate & promote corruption & tax abuse in other countries. We commend & partners"