SOUTH PACIFIC MONEY LAUNDERING
May 1st, 2003
BY MATTHEW BRACETHE CLUTCH of much-maligned offshore financial centres (OFCs) on remote Pacific islands have been swamped by so many accusations of impropriety, they are now struggling to stay afloat.Labelled as palm-fringed, sun-drenched laundries for the world's dirty money, these tiny island states and dependent territories are trying to fend off attempts by international organisations to excommunicate them from the global financial church.Undoubtedly, scores of billions of dollars have been laundered through the hundreds of OFCs registered in island ...
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