Banks' offshore tax evasion exposed

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Rebecca Benneyworth
Rebecca Benneyworth Training Consultants
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The consultation on the banking code of practice is almost at an end, and the Panorama programme on BBC 1 last night couldn’t have come at a worse time for those in the banking sector.

The broadcast started with an interview with a small business owner who struggled to keep her business afloat and eventually saw the business put into administration, losing her house and car into the bargain. Although it is difficult to comment on a single business failure, the owner clearly felt that if her bank had been more supportive her business would have survived.

The killer blow was the section of the programme which looked at the behaviour of the banks in relation to tax and offshore investments. A mystery shopper visited Northern Rock in Guernsey for advice about how to invest funds i...

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24th Sep 2009 14:51

What news?

As the Lloyds chap didn’t do anything that we didn’t know or suspect was happening, exactly what is the “news”. Do Lloyds expect everyone to believe that he was acting alone,somehow so clever that he managed to circumvent his colleagues/superiors around the world together with the bank’s tight controls that are ok and therfore don't need tightening?  

As far as I could see, the only revelation was that someone preferred a Cayenne to a Lotus.  

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