UK-linked tax havens 'missing white list'
29 May 2008 17:32
Tax havens linked to the UK have missed out on an official listing of regions rated highly for their anti-money laundering credentials.
Caribbean islands that are still technically under British control, including Cayman Islands and Bermuda, are not included in the European Union's so-called white list of top anti-money laundering locations, which might be of interest to those with jobs in tax.
Among the nations that have made it on to the list, drawn up recently after considerable debate among European members, are Russia, Hong Kong and Singapore, reports the Financial Times.
Meanwhile, the Channel Islands and the Isle of Man have been given a "qualified" status in this respect, which has provoked the ire of certain interested parties, including Geoff Cook, chief executive of Jersey Finance.
He said: "You have almost got into the mindset that places like Jersey have to do more to convince people we are measuring up. The barrier seems to be higher for us."
Jersey Finance was established by the government on the island of the same name in order to promote the territory as an international centre of excellence for financial services.
Caribbean islands that are still technically under British control, including Cayman Islands and Bermuda, are not included in the European Union's so-called white list of top anti-money laundering locations, which might be of interest to those with jobs in tax.
Among the nations that have made it on to the list, drawn up recently after considerable debate among European members, are Russia, Hong Kong and Singapore, reports the Financial Times.
Meanwhile, the Channel Islands and the Isle of Man have been given a "qualified" status in this respect, which has provoked the ire of certain interested parties, including Geoff Cook, chief executive of Jersey Finance.
He said: "You have almost got into the mindset that places like Jersey have to do more to convince people we are measuring up. The barrier seems to be higher for us."
Jersey Finance was established by the government on the island of the same name in order to promote the territory as an international centre of excellence for financial services.
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