Conning the Cali cartel

Article Abstract:

The US Drug Enforcement Administration (DEA) began work in late 1992 on a plan to break the extremely powerful Cali drug cartel in Colombia. A bogus offshore bank was established to launder the cartel's money, with the bank overtly seeking business from the cartel. This was a very sensitive step, as the DEA coul have been accused of using taxpayers' money to fund drugs operations. However, it was approved by the US government, and was eventually successful in establishing the extent of the cartel's activities. Some 88 people were arrested, and large quantities of drugs were secured.

Economic aspects, Investigations, Money laundering, Drug traffic

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A trillion dollars in dirty money keeps island tax havens afloat

Article Abstract:

It is possible that more than $1 trillion is laundered through offshore centres such as Jersey and the Cayman Islands using secrecy laws, according to David Bickford, former top law official at MI5. Almost all the top destinations for laundered funds are British run or controlled. The main offshore centres which are used to conceal the profits of drug barons, racketeers and financial fraudsters are the Isle of Man and the Channel Islands.

Analysis, Tax havens

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