How corruption and offshore bank accounts work

lightspeed

This is a very interesting documentary recently aired on Al Jazerra. It states that 3 times the amount of money donated in foreign aid is lost to corruption[HTML][/HTML] every year. Given the fact that the western world seems so compliant it would appear that there is little appetite to fix the problem. Billions are stolen and offshore company accounts are set up in anonymous names which are extremely difficult to trace. If the western world ceased all donations, the corrupt leaders and officials might not be able to get away with so much. The trick seems to be to use taxes from the western world to keep the developed world on the breadline so that they are not tipped overboard to the point of revolution. Perhaps if Tunisia, Egypt, Libya and Syria got more foreign aid, there would not be so many of those pesky springs in the middle east.

http://www.aljazeera.com/programmes/peopleandpower/2012/11/201211714649852604.html

By the way, if anybody can repost this with the video embedded to the post, please do as ive been trying to do so without success.

OnTheCounter

You made no sense at all.

Not only did you not explain how corruption and offshore bank accounts work but you seem to think that the western world and developed countries are not one and the same.

Also are you suggesting that we don't give money to poor countries to reduce the number of people dying from starvation so we can more easily identify the megarich individuals who have money in tax havens? Seriously?

Are you just trying to be controversial and the topic itself is not really important?

You know what, lets round up all the black folk driving new mercedes because we are likely to get a drug dealer or two.

lets organise a few random drive by shootings in finglas so we get a junkie or two who would smash and grab a sat nav to get their next fix.

you are using a slegde hammer to swat a fly son.

You have this brainwave after a bit of mary jane and an agreeable audience?

squod

OnTheCounter wrote: »

You made no sense at all.

Not only did you not explain how corruption and offshore bank accounts work but you seem to think that the western world and developed countries are not one and the same.

Also are you suggesting that we don't give money to poor countries to reduce the number of people dying from starvation so we can more easily identify the megarich individuals who have money in tax havens? Seriously?

Are you just trying to be controversial and the topic itself is not really important?

You know what, lets round up all the black folk driving new mercedes because we are likely to get a drug dealer or two.

lets organise a few random drive by shootings in finglas so we get a junkie or two who would smash and grab a sat nav to get their next fix.

you are using a slegde hammer to swat a fly son.

You have this brainwave after a bit of mary jane and an agreeable audience?

Shush! He's about to tell us all how to get rich.

OnTheCounter

You need to figure that one out yourself. He will then report you to the revenue for putting your fortune in a swiss bank account.

although anyone know how to buy 99.99% gold bullion coins for cash 'unoffically'?

lightspeed

OnTheCounter wrote: »

You made no sense at all.

Not only did you not explain how corruption and offshore bank accounts work but you seem to think that the western world and developed countries are not one and the same.

Also are you suggesting that we don't give money to poor countries to reduce the number of people dying from starvation so we can more easily identify the megarich individuals who have money in tax havens? Seriously?

Are you just trying to be controversial and the topic itself is not really important?

You know what, lets round up all the black folk driving new mercedes because we are likely to get a drug dealer or two.

lets organise a few random drive by shootings in finglas so we get a junkie or two who would smash and grab a sat nav to get their next fix.

you are using a slegde hammer to swat a fly son.

You have this brainwave after a bit of mary jane and an agreeable audience?

What Jibber Jabber are on about?
The documentary states that 3 times the amount of foreign aid donated to Africa is lost in corrupt banking deals where money is rested in Banks across places like the Uk, Hong Kong, United States and god knows how many others.
If this corruption is so well known then why do developed countries in the western world still donate billions every year?

Asides from the fact that it helps them by making their banks more profitable by housing all this illegal extorted money, why would they not just pull the plug all the foreign aid?

They clearly continue to give the aid money to ensure the survival of this corruption as it is in there interests to do so.

It would appear that there are in reality no donations of foreign aid, just well placed corrupt investments at the expense of the tax payer and the exploitation of the impoverished African people.

Did you even watch the documentary?
It shows how they funnel the money through several company accounts which are set up in anonymous accounts.

poeticseraphim

lightspeed wrote: »

What Jibber Jabber are on about?
The documentary states that 3 times the amount of foreign aid donated to Africa is lost in corrupt banking deals where money is rested in Banks across places like the Uk, Hong Kong, United States and god knows how many others.
If this corruption is so well known then why do developed countries in the western world still donate billions every year?

Asides from the fact that it helps them by making their banks more profitable by housing all this illegal extorted money, why would they not just pull the plug all the foreign aid?

They clearly continue to give the aid money to ensure the survival of this corruption as it is in there interests to do so.

It would appear that there are in reality no donations of foreign aid, just well placed corrupt investments at the expense of the tax payer and the exploitation of the impoverished African people.

Did you even watch the documentary?
It shows how they funnel the money through several company accounts which are set up in anonymous accounts.

It is not illegal as far as i know....what happens is that huge sums are put in bank accounts and it earns interest and it might be moved around through currency and for tax efficiency. All charities have financial advisers.


ANYONE working with large sums of money does this....your payroll is 'rested' to earn interest.

The initial sum usually goes where it is supposed to. Although not always but it is usually found out.

There is a huge difference between someone taking money you give to charity and keeping it and someone using money you give to charity to earn money and then pass on the initial sum.

What you describe above is not really the fault of Africa or the West....the corrupt in the two countries work together happily.

It is not about geography...and this scaremongering puts people off being charitable at all.

Gordon

poeticseraphim wrote: »

ANYONE working with large sums of money does this....your payroll is 'rested' to earn interest.

It's just 'resting' in the account.

Pottler

Ah ffs, I thought this was going to be a simple "how to" guide, not some sort of whinge fest. Get back on topic OP - how do we do corruption and stuff. Quit the waffling as well, use bullet points if it keeps you focussed.

Piliger

lightspeed wrote: »

It would appear that there are in reality no donations of foreign aid, just well placed corrupt investments at the expense of the tax payer and the exploitation of the impoverished African people.

Yeah .. it's all organised by the Babylonian Brotherhood through the banking system. Prince Charles is a major member .....