Letters: Offshore havens of company secrecy

Friday 04 October 1996 23:02 BST

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Sir: Whilst I accept Senator Horsfall's contention that the rules governing banking confidentiality are little different in Jersey from those applicable in the UK (Letters, 16 September), banking secrecy is not the principal source of the difficulties presented by offshore centres.

A much bigger problem is the atmosphere of corporate secrecy that pervades most offshore centres. It is almost impossible to obtain either reliable accounts from companies registered in offshore centres or any information about who controls such companies. In all responsible jurisdictions around the world, it is obligatory for companies to make information of this kind available.

NIGEL WILKINS

London SW7

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