Cyprus-Forum.com

[Malapapa]

The ninth commandment:

Though shalt not bear false witness.

Stephen Green's pronouncement (25 June 2009):

"There was a culture, there was a climate that developed where it’s as if you would say to yourself, ‘If there’s a contract, if it’s legal, if there’s a market, then I’ll do the deal, I don’t have to ask any questions, I don’t have to ask whether it’s right or suitable’. And I do think that we need to get back to that sense of what’s right and suitable and not merely, here’s something that’s a profitable transaction."

You're going to hell Stephen Green, HSBC chairman; though hopefully, if there's a God, prison first.

[kellharries]

Offshore banking is simply having a bank account in a location outside of your country of residence, usually in a low tax jurisdiction. Whether you're moving abroad or just seeking the potential tax benefits of investing offshore, we'll help you review your individual situation and make bespoke recommendations.

[Malapapa]

Offshore banking is simply having a bank account in a location outside of your country of residence, usually in a low tax jurisdiction. Whether you're moving abroad or just seeking the potential tax benefits of investing offshore, we'll help you review your individual situation and make bespoke recommendations.

That's it... You've convinced me. I'm moving all my investments to kellharries bank Plc. Where do I sign?

[Malapapa]

http://www.telegraph.co.uk/finance/news ... attle.html

HSBC facing North Cyprus legal battle
Britain’s largest bank, HSBC, is facing legal proceedings in the US over the sale of property in Northern Cyprus.

Court papers filed by a group of UK investors allege that HSBC took part in a “fraudulent property scheme of biblical proportions”. The documents claim the bank supported an “illegal commercial enterprise” in the disputed region.
Northern Cyprus – or the Turkish Republic of Northern Cyprus (TRNC) – is only recognised by Turkey, while Greek Cypriots see the area as illegally occupied territory.
The battle for land rights on the divided island has been the subject of intense legal battles for many years. More than 60pc of property in the territory is understood to have been Greek Cypriot-owned before a Turkish invasion in 1974.
“The Plaintiffs invested life savings into what they believed were vacation or retirement dwellings with valid legal title issued by the TRNC,” papers seen by The Daily Telegraph claim.
“HSBC is involved in illegally transferring monies for the sale of these properties knowing that title to the underlying properties are illegal and/or defective because the “TRNC” lacks the sovereign power to issue or obtain title.”
Last week, HSBC was forced to apologise before the US Senate over facilitating a multi-billion-dollar money-laundering operation for drug gangs, terrorists and rogue nations worldwide. The Senate heard how the company was “pervasively polluted for a long time” as it allowed funds to be shifted to and from its branches in the United States as far afield as Mexico, Syria, the Cayman Islands, Iran and Saudi Arabia. HSBC is now braced for a “substantial” fine which analysts said could be up to $1bn.
Although the cases bear few similarities, experts say lenders are likely to face increased scrutiny over the coming months.
Another high profile case last month saw ING agree to pay $619m (£396m) to settle allegations that it broke American sanctions against Cuba and Iran. US authorities said ING moved $1.6bn illegally through banks in the United States from the early 1990s through 2007 by concealing the nature of the transactions.
Simon Bevan, head of fraud and financial crime at accountants BDO, said: “Speaking generally, regulators have begun to pay a lot of attention to rogue states and the type of activities linked to them. In reality, about 90pc of staff in banks will stick to the spirit of the rules but 10pc will bend themselves into a pretzel to justify taking deposits they should refuse or report.
“In an environment where the regulator is king, we can expect to see more action taken, particularly when it concerns areas of rogue states such as North Korea and Iran”
“One of the ways this has been done is by swift stripping. Which is changing the coding on electronic fund transfers to disguise the country of origin.”
ING was the fourth major bank to settle with US authorities over “stripping” wire transfer information to hide the illegal movement of money through banks in New York on behalf of clients subject to US sanctions.
Credit Suisse agreed to pay $536m in 2009 to settle charges of illegal transactions involving Iran, Cuba and Libya, among other countries. Others implicated in the past include Lloyds TSB and Barclays.
Neill Blundell, partner and head of fraud at Eversheds, said: “Financial crime teams at individual regulators will be placing a greater emphasis on systems and controls over the next few years and months. Huge global banks are likely to be in the spotlight.”

[bill cobbett]

Comment left by yours truly...

I believe that these ex-pat Brits taking part in this action are those referred to as CarpetBaggers. These I believe are a group of would-be profiteers who tried to take advantage of the misery of others in joining in a criminal conspiracy with the HSBC and with the Illegal Regime known by some as "trcntn" (or some such) in the counterfeiting of title deeds in an attempt to steal property belonging to others.
I think that the scam that these CarpetBuggerers took part in has blown up in their faces and they are now trying to put on a miserable show that they are the innocent victims... they are far from innocent as they were a knowing party in this fraud.

[Hermes]

Comment left by yours truly...

I believe that these ex-pat Brits taking part in this action are those referred to as CarpetBaggers. These I believe are a group of would-be profiteers who tried to take advantage of the misery of others in joining in a criminal conspiracy with the HSBC and with the Illegal Regime known by some as "trcntn" (or some such) in the counterfeiting of title deeds in an attempt to steal property belonging to others.
I think that the scam that these CarpetBuggerers took part in has blown up in their faces and they are now trying to put on a miserable show that they are the innocent victims... they are far from innocent as they were a knowing party in this fraud.

It's a dirty business, bill. The thieves suing the fraudsters who work for the looters. May they all get what's coming to them.

[bill cobbett]

Comment left by yours truly...

I believe that these ex-pat Brits taking part in this action are those referred to as CarpetBaggers. These I believe are a group of would-be profiteers who tried to take advantage of the misery of others in joining in a criminal conspiracy with the HSBC and with the Illegal Regime known by some as "trcntn" (or some such) in the counterfeiting of title deeds in an attempt to steal property belonging to others.
I think that the scam that these CarpetBuggerers took part in has blown up in their faces and they are now trying to put on a miserable show that they are the innocent victims... they are far from innocent as they were a knowing party in this fraud.

It's a dirty business, bill. The thieves suing the fraudsters who work for the looters. May they all get what's coming to them.

"...The thieves suing the fraudsters who work for the looters....". Likey, likey ... think will use it elsewhere.

[B25]

Billy, first we deal with HSBC, then we move to he other brands. Once domino falls the rest will follow.
Capish

[bill cobbett]

Billy, first we deal with HSBC, then we move to he other brands. Once domino falls the rest will follow.
Capish

A plague on all three of their houses reh B25 ... cappuccino ?

[Get Real!]

"...The thieves suing the fraudsters who work for the looters....". Likey, likey ... think will use it elsewhere.

Isn't this the Chimpides case in the US we've covered elsewhere?