April 26th, 2016
Episode 512 of 836 episodes
How banks fail in their duty to know their customers, and the workers and legitimate businesses that have been unfairly penalised as a result. Presenter Ed Butler hears from investigative journalist David Cay Johnston about the big banks profited from turning a blind eye to crooks and tax evaders moving their money around, as revealed in the Panama Papers. Scott Paul of Oxfam explains how remittance firms in poor countries such as Somalia find themselves locked out of the financial system, as the banks find it too costly to carry out due diligence. Meanwhile in Iran, despite the partial lifting of sanctions, a Western businessman active in the country explains doing legitimate business continues to be something of a nightmare. (Picture: Suitcase full of dollars cash; Credit: Photology1971/Thinkstock)
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