Complex and opaque corporate structures are at the front and centre of major financial crimes. There’s overwhelming evidence that the corrupt and criminals benefit from corporate secrecy, and that legal structures such as anonymous shell companies enable them to hide, move or launder ill-gotten assets. This means that often the hardest part for the investigators is to track down the so-called beneficial owners – those who really own, control and profit from suspicious companies.
Transparency International
Capitalism is a machine made to squeeze every last cent out of this planet until there is nothing left. We can either fool ourselves about that until it kills us, or we can change it.
Hamilton Nolan – New York-based writer
Pakistan Prime Minister Imran Khan’s official residence as well as his main private residence have been put up for rent to fund welfare schemes for the country’s citizens. Earlier this year, the Government auctioned 61 luxury cars to raise revenue for the State. Governors would also no longer reside in government houses in order to not only break with colonial history but also cut public expenditure. One recalls the world-renowned cricketer of yesteryear founding a cancer hospital in honour of his mother who died of cancer in 1985. These selfless actions by the Prime Minister are a source of admiration, considering how several rulers, past and present, have enriched themselves, their families, their friends and their business associates at the expense of the poor, and disadvantaged and vulnerable groups. The latest example is the Vice-president of Equatorial Guinea who amassed enormous amounts of wealth, while more than 76 percent of the citizens live in poverty.