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The Financial Services Authority (FSA) fined UBS AG (UBS) £8million for systems and controls failures that enabled four employees to carry out unauthorised transactions involving customer money on at least 39 accounts. The £8m fine is the third largest the FSA has ever imposed. The FSA investigation found that UBS had failed to: manage and control the key risks, and the level of risk, created by its international wealth management business model; implement effective remedial measures in response to several warning signs that suggested the business' systems and controls were...

If bankers and politicians (that are their servants) in Luxembourg denies TJN's findings, in the UK, David Taylor, Member of Parliament for North-West Leicestershire, asked : " The Tax Justice Network has done the world a great service in producing its global index of secrecy, which reveals the most secretive financial centres—the City of London being the fifth worst. Why cannot we take...

On 5 October 2009, the Group of States against Corruption (GRECO) celebrated its 10th Anniversary with a High-level Conference which brought together a large number of Ministers and...

Le secret bancaire helvétique existera tant que les Suisses le soutiendront. Ce qui est différent, c’est qu’il ne sera plus possible de se réfugier derrière le secret bancaire pour les activités...

  Figures from the CRS report               Comment:   1. Median: 4.4 2. Canada is leader of the "G7" group 3....