Sunday, June 19, 2011

will Swiss banks fight corruption?

a long Foreign Affairs article about dictators hiding their assets in Swiss banks...there is now a new law that might help get the money back to the people.

Swiss banks became known as a top choice for corrupt dictators by holding the multi-million dollar accounts of, among others, former Nigerian ruler Sani Abacha, former Filipino President Ferdinand Marcos, and former Haitian strongman Jean-Claude Duvalier. Thus, it may come as a surprise that last October, Switzerland adopted what is arguably the world’s toughest law for repatriating the ill-gotten gains of corrupt politicians to the people of those countries, allowing the country to return potentially corrupt assets more easily.

the bad news?

Mugabe probably has his money in Malaysia.

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