Ethics and governance in the European Financial centers

Liechtenstein and Singapore have passed into the "OECD's whitewash, sorry, white list category" (TJN wording).

Liechtenstein scored an 87 percent opacity score and Singapore scored a 79 percent opacity score on TJN Mapping the Faultlines project.

Thanks to Luxembourg - the first jurisdiction that was congratulated - and its draft law to enforce the OECD agreements, everyone now knows that there is a huge loophole in the enforcement of the agreements: the creativity of jurisdiction to bypass agreements.

Luxembourg has imagined the "discharging fine", that would allow practically banks to keep secrecy and make money thanks to a possible new service that could be charged to clients.

"The era of banking secrecy is not over".