London haven for bin Laden money

Chris Burford cburford at gn.apc.org
Wed Oct 10 15:54:49 PDT 2001


City 'A Haven For Bin Laden Money Laundering'

Those mean French, trying to attack British business credibility on such an important issue as this! Probably they are not really even socialists. They just want to get some competitive advantage for French business!

http://www.guardian.co.uk/uklatest/story/0,1271,-1230411,00.html

Osama bin Laden's extensive financial web in Britain has been detailed in a report published by the French parliament,.

The report also criticises the City of London for being lax on money laundering.

The 70-page dossier says up to 40 British banks, companies and individuals were suspected of having links with the terrorist.

The authors are to remain anonymous for security reasons but have been "authenticated" by a French politician,

Bin Laden's financial network is similar to the system used for fraudulent operations by the collapsed BCCI bank in the 1980s, says the report.

Several British individuals identified as having connections with bin Laden were also senior figures in the BCCI scandal, it alleges.

It also identifies organisations in London, Oxford, Cheltenham, Cambridge and Leeds which have links with the head of the al Qaida network, and scores more in Sudan, Riyadh and the Bahamas.

The report is being published as an annexe to a year-long investigation claiming the City of London is a haven for money launderers. In the main 400-page investigation, headed by Socialist MP Arnaud Montebourg, French MPs call on Britain to crack down on the Square Mile and dismantle offshore tax havens such as Gibraltar and Jersey.

But Downing Street says Mr Montebourg's assessment is "inaccurate".

The Prime Minister's official spokesman said: "We think it ignores both what we have done already to ensure transparency in this country and also the series of measures that we have taken since September 11 in consultation with our partners around the world to tighten up even further. It was an inaccurate report painting the picture before September 11 and it is even more inaccurate now."



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