The May 12th "Asset Search News Roundup" talks about both whistleblower awards and hiding assets in informal banking systems:
- Ten days ago I had the pleasure of meeting a noted colleague, attorney Jack Blum. Among Mr. Blum’s high-profile clients are whistleblowers Rudolf Elmer and Heinrich Kieber, who are respectively described at "Julius Baer whistleblower cites Swiss tax edge" & "Americans Seeking Reward Money Inform IRS on Others". Mr. Blum especially emphasized in one of our conversations, that whistleblower awards can be a most effective countermeasure against tax fraud and other financial frauds.
- Informal banking systems, (a.k.a. alternative remittance systems), may be used by terrorists and anyone else hiding assets. As shown below by the money laundering typology from the Egmont Group of Financial Intelligence Units, hawala is one of these informal banking systems.
Typology / Case# 06060: Courtesy of The Egmont Group
Copyright 2010 Fred L. Abrams