Article: Ban offshore banks with account secrecy from US correspondent accounts: Nobel laureate Joseph Stiglitz

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Ban offshore banks with account secrecy from US correspondent accounts: Nobel laureate Joseph Stiglitz

Lucy Komisar

The Komisar Scoop, 3 June 2016

Joseph Stiglitz, Nobel prize-winning former chief economist of the World Bank, says that the way to solve corruption and money-laundering facilitated by offshore banks that run secret accounts is to “shut them down.” And the way to do that is to ban non-transparent banks from US correspondent accounts. He spoke at a Council on Foreign Relations meeting today.

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