MONACO
OK - keeping our theme of the moment of microstates that have had "issues" with money laundering, let's look at the second smallest country in the world. You can literally walk across it in less than an hour. Monaco has about 30,000 citizens who mainly live there because it is a tax-free zone. It's banking system, along with it's racing and casino, are its main attractions. Like the old Swiss bank accounts, it used to be a tax haven and an investment haven, with no questions being asked and no answers given.
However, once again, Monaco has had to get in line with the 21st century following the tragedy of 911 and the realization that Islamic (and other) terror groups use money laundering operations as a way to fund their activities.
Monaco still has a way to go. A small county with no natural resources except to offer wealthy people a tax haven will always have an issue with transparency. But, as with Liechtenstein, it is an example of how effective a government can be in ordering transparency.
As always, have a great and fraud-free day.
http://www.tauskvega.com
------------->>>>>>>>>>>>>>>gene tausk
OK - keeping our theme of the moment of microstates that have had "issues" with money laundering, let's look at the second smallest country in the world. You can literally walk across it in less than an hour. Monaco has about 30,000 citizens who mainly live there because it is a tax-free zone. It's banking system, along with it's racing and casino, are its main attractions. Like the old Swiss bank accounts, it used to be a tax haven and an investment haven, with no questions being asked and no answers given.
However, once again, Monaco has had to get in line with the 21st century following the tragedy of 911 and the realization that Islamic (and other) terror groups use money laundering operations as a way to fund their activities.
Monaco still has a way to go. A small county with no natural resources except to offer wealthy people a tax haven will always have an issue with transparency. But, as with Liechtenstein, it is an example of how effective a government can be in ordering transparency.
As always, have a great and fraud-free day.
http://www.tauskvega.com
------------->>>>>>>>>>>>>>>gene tausk
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