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Identities of the rich who hide cash offshore
From: InfoSec News <alerts () infosecnews org>
Date: Thu, 4 Apr 2013 00:41:27 -0500 (CDT)
By David Leigh
3 April 2013
Millions of internal records have leaked from Britain's offshore financial
industry, exposing for the first time the identities of thousands of holders of
anonymous wealth from around the world, from presidents to plutocrats, the
daughter of a notorious dictator and a British millionaire accused of
concealing assets from his ex-wife.
The leak of 2m emails and other documents, mainly from the offshore haven of
the British Virgin Islands (BVI), has the potential to cause a seismic shock
worldwide to the booming offshore trade, with a former chief economist at
McKinsey estimating that wealthy individuals may have as much as $32tn (£21tn)
stashed in overseas havens.
In France, Jean-Jacques Augier, President François Hollande's campaign
co-treasurer and close friend, has been forced to publicly identify his Chinese
business partner. It emerges as Hollande is mired in financial scandal because
his former budget minister concealed a Swiss bank account for 20 years and
repeatedly lied about it.
In Mongolia, the country's former finance minister and deputy speaker of its
parliament says he may have to resign from politics as a result of this
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- Identities of the rich who hide cash offshore InfoSec News (Apr 04)