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July 16 2013

Interview : HSBC Swiss Bank Whistleblower Herve Falciani on Tax Evasion - SPIEGEL ONLINE

Interview: HSBC Swiss Bank #Whistleblower Herve Falciani on Tax Evasion - SPIEGEL ONLINE
http://www.spiegel.de/international/business/interview-hsbc-swiss-bank-whistleblower-herve-falciani-on-tax-evasion-a-9112

Falciani, 41, has also cooperated with the American authorities. Indeed, on the strength of the information he provided, #HBSC was forced to pay a $1.9 billion settlement with the United States after a Senate committee found that failures in HSBC’s money-laundering controls had enabled terrorists and drug cartels to gain access to the US financial system.

Last year, officials in Spain arrested Falciani in Barcelona. After a Spanish court rejected a Swiss extradition request for the Franco-Italian, he returned a few weeks ago to France, where examining magistrates have opened a new investigation into HSBC. SPIEGEL met with Falciani for an interview near Place d’Italie. He came wearing a beard and accompanied by three body guards with dark sunglasses. Flaciani says he is still the subject of a Swiss international arrest warrant.

#banque

Latvia Set to Join Euro Zone and Become a New European Tax Haven - SPIEGEL ONLINE

#Latvia Set to Join #Euro Zone and Become a New European Tax Haven - SPIEGEL ONLINE
http://www.spiegel.de/international/europe/latvia-set-to-join-euro-zone-and-become-a-new-european-tax-haven-a-910610.ht

Latvia will become the common currency area’s newest member in January 2014 — the same time that new tax laws go into effect allowing the country to compete with the likes of Cyprus and Malta. This could further destabilize the European economy.

(...) Riga’s planned reform has been designed to transform Latvia into the euro-zone’s next tax haven. And it highlights the degree to which rhetoric and reality diverge in the European Union.

Ever since the International Consortium of Investigative Journalists (ICIJ) exposed the vast scale of tax evasion undertaken by multinationals around the world, the European Commission has made combating financial trickery a top priority. Theoretically, at least. In practice, exactly the opposite has happened. “Instead of eliminating established tax havens, we have added a new one to the euro zone,” says Sven Giegold, a financial expert with the Green Party in the European Parliament.

#lettonie #union_européenne #paradis_fiscal

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