The publication in August of the report Towards a Level Playing Field, prepared by the international law firm Stikeman Elliott, provides a timely opportunity to analyse more objectively some assumptions underpinning the initiatives of the Organisation for Economic Co-operation and Development (OECD) and the Financial Action Task Force (FATF).
The report gives substance to a view widely held in the offshore financial centres: that the OECD and FATF, both of which are agencies of the G7 countries, are simply applying double standards.
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