Er ...
Tue, 16 Apr at 15:54
'Jesus Christ!'
Shut up. The date don't matter.
Hi Michael
All right. How you doing?
'Who's that?'
Laura.
As the UK government this afternoon announced £2 million in funding to tackle illicit company ownership Ted Datta, Senior Director, Financial Crime Industry Practice at Moody's shares his thoughts on what this pledge could mean for governments, businesses and the landscape of financial crime.
Hang on a minute!
Hang on a minute!
'Ha!'
Since when has the UK government cared about fighting financial crime?!
'They're responsible for most of it, aren't they, boss?'
Oh, I wouldn't like to say, Voice.
Uh.
Okay, Ted. Do your thing.
'Make it good!'
Ted Datta, Senior Director, Financial Crime Industry Practice at Moody's says, "The UK's £2 million contribution to World Bank and IMF trust funds, aimed at supporting low-income countries in implementing registers of company ownership, is a step towards tackling financial crime as a global community. Africa, for example, loses an estimated $90 billion annually to corrupt individuals moving money through shell companies, this initiative has the potential to make a significant impact."
Oh, blame the Africans, sure.
"Moody's research found 21 million "red flags" for shell companies around the world, which could indicate the presence of malpractice. While shell companies can serve legitimate purposes, they are often exploited as vehicles for financial crimes such as fraud, money laundering, and tax evasion."
Yeah, yeah.
"Governments and businesses face the complex task of gaining transparency into these typically opaque entities. By working with other countries and international organisations as a community to standardise ownership information and make it more accessible, this latest initiative can become part of the overall effort to stem illicit financial flows that cost the international financial system so dearly."
Well, okay ... I take my hat off to the UK government.
'You don't have a hat.'
That's right.
ENDS
ENDS
ENDS
Best,
Laura
Oh, sorry, Laura! Yeah, best, whatever.
'Nice one!'
ENDS
ENDS
ENDS
...
Anything else, kooks?
No, no, no.
I want a word with Voice, if you don't mind.
'What?'
Well, what are you going to be doing ... after next week, like?
'I'm coming with you.'
It might be rough.
'I was made for rough times.'
What about tough times?
'Those as well.'
Well, okay.
Yeah, kooks ... it's nice to have it written down, or typed down, or up, you know?
Actually, there have been so many conversations lost over the years because I've been out on a walk or something.
'They don't need to know everything.'
Of course not.
Laters.
