Hello, and welcome to the latest Tax Justice Network podcast, the Taxcast.
Listen to this latest podcast by clicking here, check out the links below OR or find us on your podcast app.
In the latest Taxcast episode: after 30 years on the run, Italy’s most wanted fugitive Matteo Messina Denaro of the Cosa Nostra has been arrested in Sicily. We look at the costs of organised crime, both economic and societal, the contagion that financial secrecy facilitates, and how to reverse the rot.
Secrecy jurisdictions and tax havens have made it possible for mafiosi to progress from crossing physical borders with bank notes stuffed in suitcases, to being able to pour unlimited amounts of money into the financial system. Dirty money in, ‘clean’ money out. That money destabilises economies and corrupts democracies, while organised crime toxifies societies. The problem is that financial secrecy and tax havens are also the friend of commerce, multinationals and very wealthy, powerful people worldwide…
A transcript of the podcast is available here. (Some is automated)
Hosted and produced by Naomi Fowler of the Tax Justice Network
“The mafia is not just a criminal phenomenon linked to money laundering, it’s a political, social and economic phenomenon. They interfere in the political process, they interfere in economic development. Ultimately we need State reform in all its parts. It really requires a fight against entrenched special interests.”
~ Professor Federico Varese
“Many banks and financial authorities don’t really care about who their customers are as long as they bring money in.”
~ Journalist, Stefano Vergine
“Some of these criminal organisations have a turnover every year which is basically the size of our economy…it is extremely difficult for journalists to do their job, it’s almost impossible to get clear answers.”
~ Surgeon, and opinion writer in Malta, Kevin Cassar
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