Global Witness urges banks not to do business with dictators & corrupt govts.

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11 March 2009

Campaigners urge banks to shun dictators

Author: David Leigh, The Guardian [UK]

Banks are facilitating international corruption by doing business with the world's dictators, according to a report today by an anti-corruption campaign group. Global Witness calls for banks to work harder to turn away business from individuals who pose a corruption risk… Banks named in the report include Barclays… Barclays declined to comment because of client confidentiality. Other banks "hid behind bank secrecy laws" to frustrate US inquiries, the report says… Gavin Hayman, campaigns director of Global Witness, said…"Government must take responsibility to stop banks doing business with corrupt dictators and their families."

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Author: Global Witness

...un...rapport publié par l’ONG...Global Witness montre comment quelques-unes des plus grandes banques mondiales entretiennent des relations d’affaires avec certains des régimes les plus corrompus de la planète...facilit[a]nt la corruption et le pillage des revenus...et empêchent certaines des populations les plus démunies au monde de se sortir de la pauvreté...Le rapport...intitulé "Sans vigilance: Les banques et leurs relations d’affaires avec des régimes corrompus" présente des éléments de preuves indiquant que Barclays...Citibank...HSBC et Banco Santander...Deutsche Bank...[et] Des dizaines de banques britanniques, européennes et chinoises...[sont] impliquée[s] dans la conclusion d’affaires de ce type, dont les coûts réels sont supportés par les habitants de certains des pays les plus pauvres au monde...

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Article
11 March 2009

Turkmenistan: German bank complicit in Niyazov’s reign of terror- report

Author: Eurasianet

A new report slams a leading German bank for allowing Turkmenistan’s former president, Saparmurat Niyazov, to stash billions of dollars in state earnings in a personally controlled account. The report, titled Undue Diligence, was released… by the watchdog organization Global Witness. It asserted that Deutsche Bank…was complicit in propping up Niyazov’s brutal dictatorship..."Deutsche Bank assisted the late president Niyazov…a notorious human rights abuser, to keep billions of dollars of state gas revenues under his personal control and off the national budget," the report said …"Global Witness has asked Deutsche Bank what happened to the accounts following the death of Niyazov…Deutsche Bank declined to answer."

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Article
1 March 2009

[PDF] Full report: Undue diligence: How banks do business with corrupt regimes

Author: Global Witness

[F]ailures by banks and the governments that regulate them have caused untold damage to the economies of some of the poorest countries in the world. By doing business with dubious customers in corrupt, natural resource-rich states, banks are facilitating corruption and state looting, which deny these countries the chance to lift themselves out of poverty… [T]he dictator who has control of natural resource revenues…needs a bank willing to take the money… The result is that the international banking system is complicit in helping to perpetuate poverty, corruption, conflict, human suffering and misery… Global Witness is making…recommendations, which need to be adopted globally. [refers to Absa, Agricultural Bank of China, Banco BPI, Banco Espirito Santo, Banco Santander, Bank of Central African states , Bank of China, Bank of East Asia, Barclays, Bayerische Hypo-und-Vereinsbank, Bayern LB, Belgolaise, BNP Paribas, Calyon [part of Credit Agricole], CCF Banque Privée Internationale, China Construction Bank, China Development Bank, China Exim, Citibank [part of Citigroup], Commerzbank, Credit Agricole, Credit Commercial de France, Crédit Lyonnais [part of Credit Agricole], Credit Suisse, Danske Bank, Deutsche Bank, DZ Bank, Ecobank, Fortis, HSBC, HSH Nordbank, ICS group, ING, JP Morgan Chase, KBC, LBDI, LGT, Lloyds, Lloyds TSB, Millennium bcp, Natixis, National Australia Bank, Nedbank, Orient Investments, Pacific Investments, Rabobank, Riggs [now part of PNC Financial Services], Royal Bank of Scotland, SG CIB, SMBC, Societé Générale, Standard Bank, Standard Chartered, Sumitomo Trust & Banking Company, UBS, UFJ, West LB]

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