20 April 2016

How Utterly Proper

George Osborne, the UK's Chancellor of the Exchequer, has decided to exempt people that he sees as significant from money laundering regulations:

George Osborne this afternoon accepted an amendment to the Financial Services Bill which will see some Politically Exposed Persons and their families exempted from these anti-money laundering rules. Ministers will now “exclude specified categories of persons” from the list of so-called PEPs, as Osborne says it is “disproportionate” for banks to include MPs and relatives on the watch list. Mossack Fonseca will be able to whisk MPs and their families through the account opening process…
(emphasis original)

And once again, I have to note that this is not The Onion, it is reality ……… reality completely indistinguishable from the the pages of a parody magazine.

I am beginning to wish that Guy Fawkes had succeeded in the Gunpowder Plot.

H/t Naked Capitalism


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