WirtschaftsWoche: the USA became an oasis for money laundering

WirtschaftsWoche: the USA became an oasis for money laundering

USA, demanding greater financial transparency from other countries themselves take the third place in the ranking of opaque financial markets, writes the German economic newspaper.

MOSCOW, 6 Nov. The United States has become a leading transit point for illicit money, writes the German economic magazine WirtschaftsWoche, referring to the study “the Index of the shadow Finance”, compiled by the organization Tax Justice Network.

While the financial transparency of most countries has generally improved, United States this study identified a negative exception. America is a “serious threat to future initiatives in the field of transparency”.

The reason for the deterioration of the position of the United States is their unwillingness to participate in international initiatives aimed at increasing transparency. Moreover, the US holds “double standards”. The US successfully achieving greater transparency in other countries, but cannot send information in the opposite direction, for example withdraw from direct participation in such initiatives as the multilateral exchange of data, as well as “inexcusable” conduct active work against providing open, enterprise reporting in each country, writes WirtschaftsWoche.

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