Showing posts with label Authorities. Show all posts
Showing posts with label Authorities. Show all posts

Tuesday, April 16, 2013

British authorities review security for London marathon


The Boston bombings have raised fears about the world’s biggest marathon, which takes place in London next Sunday.


“It makes you do a double-take on the whole thing. And I just pray that everybody will be safe,” says Hannah Carter, one of the 36,000 runners scheduled to take part.


The British government insists that the runners and the half a million spectators expected to line the route will all be totally safe — thanks to the U.K.’s expertise in security. Those skills were honed fighting IRA terrorism for more than 30 years in Northern Ireland. They were further refined  by the experience of staging the Olympics in London last year. The U.K. spent a billion dollars on security at the Games, which has also left it well equipped technically.


“The technology, things like CCTV cameras and the software that can automatically recognize odd behavior in crowds, is still state of the art,” says Jennifer Cole, a terrorism expert at the Royal United Services Institute.


London has an estimated 400,000 closed circuit television cameras, more than any other major city.


London is already bristling with security personnel; thousands of soldiers and police officers will be officiating tomorrow at Margaret Thatcher’s ceremonial $ 13 million funeral. Their security operation could be extended — at no great extra cost — to cover the marathon.


“There are personnel around and processes in place that are going to be very easy to just carry on over into the weekend,” says Cole.


Another analyst, Dr. Peter Lehr — a terrorism studies lecturer at St. Andrews University in Scotland — says there is a much safer and cheaper way to stage the London Marathon. You have the competitors running round and round inside Wembley stadium, behind locked doors, and without any spectators.


But, he says, the only winner would be terrorism.


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British authorities review security for London marathon

Authorities charge Swiss banker, attorney in tax probe





NEW YORK | Tue Apr 16, 2013 9:26pm EDT



NEW YORK (Reuters) – Authorities on Tuesday charged a Swiss banker and a Swiss attorney with helping American clients hide millions of dollars in offshore accounts to evade paying taxes.


The case is the latest in a string of prosecutions from the Justice Department aimed at curtailing offshore tax evasion services sold by Swiss and Swiss-style banks.


Stefan Buck and Edgar Paltzer were each charged with one count of conspiracy, an indictment filed in Manhattan federal court showed. It did not name the defendants’ employers.


Buck is the head of private banking and a member of the executive board at “Swiss Bank No. 1,” while Paltzer is a partner at a “Swiss Law Firm” and was admitted to the New York bar in 1988, according to the indictment.


Zurich-based Bank Frey lists Stefan Buck as its head of private banking and a member of its executive board on its website.


The Swiss law firm Niederer Kraft & Frey lists Edgar Paltzer as a partner on its website, and New York state records show he was admitted to the New York bar in 1988.


Attempts to reach Bank Frey and Niederer Kraft & Frey for comment were unsuccessful outside of regular Swiss business hours.


In March 2009, Swiss bank UBS AG (UBSN.VX) agreed to pay $ 780 million to settle charges brought by the Justice Department. The oldest Swiss bank, Wegelin & Co, pleaded guilty in January to helping wealthy Americans evade taxes and was sentenced to pay nearly $ 58 million in penalties.


According to the Manhattan U.S. Attorney’s office, which brought the charges, Buck’s bank saw an increase of 300 percent in U.S. taxpayers as clients between the time of UBS’s settlement and Wegelin’s indictment in February 2012.


Around $ 938 million, or 44 percent, of the bank’s $ 2.1 billion in managed assets as of September 2012 was held by U.S. taxpayers, prosecutors said.


Buck and Paltzer opened and managed undeclared accounts for U.S. clients who had been informed by other Swiss banks that they had to close their accounts there.


Both men reside in Switzerland, and neither has been arrested, prosecutors said.


Paltzer, a dual U.S.-Swiss citizen, is admitted to practice law in New York, authorities said.


The defendants each face fines and a maximum prison sentence of five years.


The case is U.S.A. v Paltzer and Buck, U.S. District Court for the Southern District of New York, No. 13-282.


(Reporting by Joseph Ax; Editing by Ryan Woo)





Reuters: Business News




Authorities charge Swiss banker, attorney in tax probe

Thursday, February 21, 2013

Greek Official Sends 2000 Cases of Fraud and Embezzlement of Public Money to Authorities, Zero Results

Reader “Lefteris” from Greece writes …

Hi Mish,

The General Inspector of Public Administration in Greece, Mr. Rakitzis, stated that he has send more than 2000 cases of proven corruption to justice, and none of them has brought any results.

This person, by the way, is considered a highly ethical and effective inspector by all political parties in Greece.

One of the problems is that Greek law considers embezzlement of money in the public sector as a misdemeanor for amounts less than 72,000 euros. Corrupt officials are taken to justice (upon review by a board of their peers) and then they are released and work again normally in the public sector.

Batting Zero for Two Thousand

From Google Translate Rakitzis: “I Sent 2000 Cases to Court and Not One Verdict”

Mr. Rakitzis said that in 8 years in his position he sent to Justice 2000 cases of which not one decision has been rendered.

He attributed much of the blame for delays, obstruction, and problems of public administration in the poor performance of local government in action and trade union circles.

Mr. Michael, the president of the Central Union of Chambers of Commerce and Industry of Athens said the fight against corruption is a matter of survival. “The misery of wage workers in the public sector is one factor that exacerbates the problem” commented Mr. Michael.

Reforms are needed to tackle the roots of the problem: legislative complexity and ambiguity in the laws, excessive state intervention in the economy, bureaucracy, poor utilization of new technologies, and the culture of impunity.

Culture of Impunity

Politicians on the take have no interest in strengthening the law that defines embezzlement of money in the public sector under 72,000 euros, a misdemeanor. Extortion, graft, and fraud is seen as a benefit of public “service”.

Mike “Mish” Shedlock
http://globaleconomicanalysis.blogspot.com

Mish’s Global Economic Trend Analysis


Greek Official Sends 2000 Cases of Fraud and Embezzlement of Public Money to Authorities, Zero Results