Commercial banks support Tax Havens

Major "trusted" commercial Banks help clients hide Trillions in Offshore Tax Havens

'Trusted' private banks like Barclays, UBS, Credit Suisse, JP Morgan and Goldman Sachs are the first ones to uphold the existence of the Treasure Islands. In fact, many (most, if not all) have their own subsidaries for so-called Off Shore Banking. The only function of these subsidaries is to avoid or evade taxes in the home-country of the wealthy and powerful, be it an individual or an industry (as opposed to normal citizens and small business). In a moral or ethical sense tax avoidance and tax evation are identical. The difference is only determined by the fact whether this "not-paying-fairly-due-taxes" is accomplished in a fully illegal way or in a vaguely legal way, dextrously benefitting niches in international law.

"...its a big business for US banks, as well as for UK banks and Swiss banks..."

While the so called "crisis" is still choking families to suicide, small businesses to bancruptcy and whole countries to revolution "Top US banks Goldman Sachs and JP Morgan have reported sharp rises in profits (2012) on the back of strong performance in investment banking." (GM - JPM)


Some of the banks mentioned in the following video are USB, Credit Suise, JPMorgan and Goldman Sachs. The clients are not mentioned in the video but companies like Microsoft, Apple and Google frequently appear in Main Stream Media ("Companies such as Microsoft and Apple quietly dodge billions of dollars in taxes each year with potentially illegal schemes to move their profits offshore") but it is a well known practice of nearly all known corporations that are on the stock exchange, that appear in Fortune 500 and of which we may purchase as much as 90% of all that we consume.

This website will be on the watch to compile lists of both banks and corporations that engange, not just in Tax Evasion, but any use of Treasure Islands to hide money from the rest of the world, with referrence to the source, or at least offer links to already existing lists when found.

For the moment just the list of the 50 biggest "official" BANKS in the world according to Global Finance Magazine. Remember that an estimated 25 to 30% of the money is hidden on Treasure Islands.

World's 50 Biggest Banks 2012
Rank Bank Country Total Assets ($m) Statement Date
1 Deutsche Bank Germany 2,799,977 12/31/11
2 HSBC United Kingdom 2,555,579 12/31/11
3 BNP Paribas France 2,542,738 12/31/11
4 Industrial and Commercial Bank of China China 2,456,287 12/31/11
5 Mitsubishi UFJ Financial Group Japan 2,447,950 3/31/11
6 Crédit Agricole France 2,431,796 12/31/11
7 Barclays Group United Kingdom 2,417,327 12/31/11
8 Royal Bank of Scotland United Kingdom 2,329,726 12/31/11
9 JPMorgan Chase United States 2,265,792 12/31/11
10 Bank of America United States 2,129,046 12/31/11
11 China Construction Bank (CCB) China 1,949,213 12/31/11
12 Mizuho Financial Group, Inc. Japan 1,890,219 3/31/11
13 Bank of China China 1,877,514 12/31/11
14 Citigroup United States 1,873,878 12/31/11
15 Agricultural Bank of China China 1,853,313 12/31/11
16 ING Group Netherlands 1,655,101 12/31/11
17 Banco Santander Spain 1,619,259 12/31/11
18 Sumitomo Mitsui Financial Group Japan 1,598,424 3/31/11
19 Société Générale France 1,528,492 12/31/11
20 UBS Switzerland 1,508,302 12/31/11
21 Lloyds Banking Group United Kingdom 1,500,535 12/31/11
22 Groupe BPCE France 1,472,887 12/31/11
23 Wells Fargo United States 1,313,867 12/31/11
24 UniCredit Italy 1,199,079 12/31/11
25 Credit Suisse Switzerland 1,115,065 12/31/11
26 China Development Bank China 992,158 12/31/11
27 Rabobank Netherlands 946,649 12/31/11
28 Goldman Sachs United States 942,140 12/31/11
29 Nordea Sweden 926,645 12/31/11
30 Norinchukin Bank* Japan 908,793 9/30/11
31 Commerzbank AG Germany 856,208 12/31/11
32 Intesa Sanpaolo Italy 827,042 12/31/11
33 Royal Bank of Canada (RBC) Canada 797,262 10/31/11
34 Banco Bilbao Vizcaya Argentaria (BBVA) Spain 773,305 12/31/11
35 National Australia Bank Australia 737,243 9/30/11
36 TD Bank Group Canada 735,947 10/31/11
37 Bank of Communications China 731,826 12/31/11
38 Commonwealth Bank of Australia Australia 717,245 6/30/11
39 Westpac Australia 655,544 9/30/11
40 KfW Germany 640,209 12/31/11
41 Standard Chartered Plc United Kingdom 599,070 12/31/11
42 Scotiabank (Bank of Nova Scotia) Canada 596,990 10/31/11
43 Danske Bank Denmark 596,004 12/31/11
44 ANZ Group Australia 581,463 9/30/11
45 Dexia Belgium 534,039 12/31/11
46 DZ Bank Germany 525,198 12/31/11
47 Banco do Brasil S.A. Brazil 523,295 12/31/11
48 Bank of Montreal (BMO) Canada 502,737 10/31/11
49 Banque Fédérative du Crédit Mutuel France 494,501 12/31/11
50 Landesbank Baden-Württemberg Germany 482,674 12/31/11

SOURCE: Fitch Solutions, except *Moody’s Investor Service


Read more: World's 50 biggest banks 2012 (Global Finance)

Under Creative Commons License: Attribution Share Alike


You are welcome to contribute to creating the list that links Treasure Islands, "trusted" Banks and Corporations along history (since the "invention" of Bank Secrecy in 1934) so we have at least a kind of bird view over what is actually happening with the money in this world.

Best would be to dispose of references from "official" Main Stream Media, since that is the official news "they" want or allow us to know, so the only ones trustworthy by the ruling elite standards, which is what makes it "legal" (to them) and not "some" conspiracy theory they can wave away.


Related links and references