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Professionals and politicians in Luxembourg still did not realise the paradigm shift

A German TV channel wanted to know if German banks would agree to discreetly move money of clients having an account in Liechtenstein towards Luxembourg ; according to a documentary diffused last Monday evening, three banks reached at the request of a journalist playing the prospective client.
The adviser of the first bank praised the high standards of safety of the country which allowed anonymous placements with numbered accounts. This adviser even proposed the discrete transfer of the money from Liechtenstein to Luxembourg.
The adviser the second bank specified that the bank had great experience in the field and that there was nothing to fear coming from its head office.
The adviser of the third bank was more careful, informing the factitious clients of the risks on bleaching but presented the various means possible to place money without paying tax.
The adviser of the fourth bank refused to advise the customer.

The documentary is perfect implementation of Lucien Thiel's doctrine : that's to say
- It is not our duty to control if the tax payer was honest,
- Banking secrecy remains : Luxembourg is not compelled to communicate its clients'data.

As far as professionals and politicians in Luxembourg are concerned, they underlined that the TV documentary was only based on the German point of view that is not the Luxembourg point of view and that it was a trap against Luxembourg to weaken the country in the debate relating to banking secrecy.

While the Liechtenstein scandal is recent, what is extraordinary the absence of guilt-feelings and the feeling of impunity.

I guess the FATF enjoys Luxembourg's generous grant that shoul have never ever taken place.

Know more :

Article in French from L'Essentiel

Script of the documentary in German

Documentary in German : Wie die Landesbanken in Luxemburg helfen, Geld am deutschen Fiskus vorbeizuschleusen (As the Landesbank in Luxembourg help to smuggle through money at the German treasury)

Debate in German : Landesbanken in Luxemburg helfen Geld am deutschen Fiskus vorbeizuschleusen (Landesbank in Luxembourg help to smuggle through money at the German treasury)

07:35 Posted in Luxembourg | Permalink | Comments (0)

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