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

Author: Global Witness, Published on: 1 March 2009

[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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Related companies: Absa Agricultural Bank of China Banco BPI Banco Espírito Santo Bank of China Barclays BNP Paribas Calyon (part of Crédit Agricole) China Construction Bank China Development Bank China Exim Citibank (part of Citigroup) Commerzbank Crédit Agricole Crédit Lyonnais (part of Crédit Agricole) Credit Suisse Danske Bank Deutsche Bank Ecobank Fortis Groupe Banque Populaire HSBC ING JPMorgan Chase KBC Lloyds Natixis Rabobank Riggs Bank (now part of PNC Financial Services) Royal Bank of Scotland Santander Société Générale Standard Bank Standard Chartered UBS West LB