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US expert addresses local audience

A financial-crime fighter from the United States is advising the Isle of Man and other offshore jurisdictions to defend themselves against international attacks, and to do it together.

Bill Baity, the Deputy Director of the US Financial Crimes Enforcement network, FinCen, addressed an audience at the Mount Murray hotel last night.

His comments came after the Treasury Minister Allan Bell told the Chamber of Commerce that offshore financial centres would face renewed pressures if Barack Obama became president.

During his campaign Mr Obama has called for so called tax havens to be shut down.

Mr Baity (pictured) told his audience perceptions of what 'offshores' are comes with the name:

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