Tag Archives | offshore banking

Offshore Banking Update: SEC Statement on Standford Charges

The knives are out….SEC Release: The Securities and Exchange Commission today charged Robert Allen Stanford and three of his companies for orchestrating a fraudulent, multi-billion dollar investment scheme centering on an $8 billion CD program. Stanford’s companies include Antiguan-based Stanford International Bank (SIB), Houston-based broker-dealer and investment adviser Stanford Group Company (SGC), and investment adviser […]

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Tax Evasion Crackdown in Singapore Expected

Investors looking to avoid the EU Savings Tax Directive by moving to Singapore may have pulled the short straw. Under pressure from OECD countries over its impressive bank secrecy, Singapore has looked to buckle up with its senior finance minister denying that it is a tax haven, and encouraging further OECD cooperation. The mininster for […]

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Sir Allen Stanford

Stanford International Bank Under FBI Investigation

FBI agents are investigating Antigua-based Stanford International Bank, owned by Texan billionaire Sir Allen Stanford. The bank has come under scrutiny because it offers CD’s with returns at twice the rate of ‘conventional’ banks. Former employees have also witnessed ”unethical and illegal practices”, reports the times of London. Mark Tidwell and Charles Rawl alledge that […]

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EU Seeks To Renegotiate Liechtenstein Bank Secrecy

Liechtenstein’s ultra secret bank secrecy has come under renewed attack from the EU. It was a hard nut to crack. Eventually Liechtenstein’s bank secrecy was broken by a rogue bank employee paid handsomely by the German government. But now the EU’s blood is up it wants its pound of flesh in the form of new […]

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Wealth Protection

QUESTION: I subscribe to a variety of financial newsletters. Several have suggested for more then several years that it would be “prudent” to open a foreign bank/brokerage account so as to move a portion of one’s liquid assets “offshore” (out of USA). The thinking is that the US dollar is going to flat line at […]

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Gibraltar Map

Bet on the Rock

Is it any wonder that Gibraltar is a preferred Tax Haven for On-line Gambling companies? Now here’s a jurisdiction with a tradition for providing services to whomever rowed ashore. Legend has it that this was the first tax haven, as being a massive ship yard and major port to the British Naval fleet, it was […]

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Ghana Steps up Offshore Banking Effort

The President, Mr J A Kufuor announced at the weekend that the government is in the process of setting up an International Financial Services Centre in collaboration with the Barclays Bank to, among others, transact off-shore banking business; making Ghana the financial hub of the West African sub-region. President Kufuor said all the economic indicators, […]

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The Truth About Offshore Investing

Offshore banking and investing is not littered with money laundering criminals, fraudsters, and tax evaders as many governments will have you believe. In respect to these types of crimes the reality is that there is infinitely more criminal activity onshore within their countries then there is offshore. There is a huge difference between those who […]

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