Anonymous

Speakers Corner: Why can’t we all be allowed to launder money?

ANONYMOUS

By the time the banking crisis happened in our country back in 2012, we saw some huge improvements in operational procedures in the way that banks receive funds from clients, along with increasing the oversight on who can and cannot have an account.

It was not unheard of pre 2012 to hear of representatives of account holders from far off lands, going into the dimly lit back rooms in the belly of the bank with very large sums of money in cash, and their larger personal security staff helping them carry the bags. With KYC being carried out with the shake of a hand, and a nice commission made by the account manager we could see first hand how taking money from some dubious sources was not frowned upon in this country.

It was not as bad as the scenes in the famous film Scarface, where the main protagonists walk daily into the bank with millions of dollars. However, from what I understand when the crash occurred, the ‘businessmen’ that had their funds exposed to the hair cut, had interesting ways of making sure that the government policy did not apply to them by using persuasion tactics on the bank manager perhaps only beaten in Guantanamo bay.

Having watched bankers go crazy and pretty much destroy a nation’s economy, with little or no recourse from the state or judiciary on those who carried it out. It was not incredibly surprising to read about the $2 Trillion USD that has been washed through several of Tier one banks over the past two decades from the usual alumni of drug dealers and terrorists, and no legal redress being carried out on a global scale for the accused.

Reading the recent FinCen reports in the media, which will no doubt disappear from our news feeds soon, it led me to a moment of contemplation on the subject. I Have long believed that where money and humans are in a relationship you will always have corruption. As the banking system runs on these two actors to make it work, why not just let all the money flow regardless where it comes from.

Now this may seem absolutely mental, however there is method in my madness. In Cyprus we were labelled as a major money laundering location. However, according to many journalists and academics

who monitor international financial crime, London offers a far more sophisticated operation, which can accommodate those with many billions to have access to clean funds.

I think our problem locally was we were not laundering enough or for the right people, therefore we would get huge pressure from the EU to clean up our act. We aimed for the small to medium sized oligarchs that needed funds cleaned, and not the super rich who are looking to have amounts similar to the GDP of a small African nation, moved into the banking system.

Every large crime needs what is known as a patsy who takes the blame for the crime acting as the fall guy. This role has been taken on by Cyprus, viewed as the home for all the ills of the global banking system.

Cyprus is often seen as the catalyst for this, something which it has been unable to shake off, more in part to its weak PR game. How many times have you said to a client that their funds are being held in a Cyprus bank account, to be greeted with that 3 second silence where they still deep down believe that it is 2012, conjuring the image of impending bread riots and economic collapse. Why is this? incredibly weak PR to speak up for our country, which although not entirely blameless, we do appear to many to be worse than what we actually are.

Cyprus does appear to get a good kick in from the media based upon the ‘Golden Passport’ program, of which the UK sells more of these at a higher price, with ever more sophisticated accounting practices to get the money in the system, and donated to the correct political party to get their voice heard in a dying political system.

I have always been a keen advocate for regulation and using it as a tool for good.However this latest $2 TN USD debacle leads me to think that we should just go crazy and let people really have a free market when it comes to banking. We already pretty much have a system where a fine is viewed as a cost for business, and is priced into the transactions for such clients, so let’s just open the floodgates and see where it takes us.

Look at the upsides, no more decline by World Check, or the standard 8000 supporting documents needlessly required to supply because you are unfortunately called John Bin Laden.It appears to me that the regulators are incredibly effective in making life hard for anyone who is not involved in selling tanks or biblical amounts of crack cocaine. As a result of this, should we just end the charade and abandon all regulation. The good people will always do good, and the bad will always do bad.

The best way to sum it up is in the words of George Orwell in Animal Farm, ‘we are all equal, but some of us are more equal than others.’

Game Changers Magazine Lifestyle

GC:LUXURY

PANAYIOTIS MELLEKKIS MELEKKIS JEWELLERY

ELEMENTS

FOR SALE: 112,000,000 EUR GUESTS: 24 CABINS: 12 CREW: 29 HELIPAD. MEDICAL SUITE. 140 SQM BEACH CLUB.

Elements is one the world’s few purpose-built SOLAS yachts and is a superyacht of refined splendor. Elements was delivered in 2019 and this 80m motor yacht is offered for sale in brand new condition and low engine hours.

Elements has been custom-built to Lloyd’s classification, with unrestricted SOLAS navigation, and is also compliant with commercial operation. The yacht has two pairs of stabilizers for comfort, is able to take a helicopter and has a 7,000nm range at a cruising speed of 13.5 knots.

This incredibly capable ocean-going vessel has a voluminous interior, designed by Cristiano Gatto. Mixing contemporary exterior styling with a more classic interior, Elements’ decor features precious marbles, rich fabrics, hand-tufted carpets and intricately adorned ceilings, with many further details accentuating the elegance of each room including gold, silver and mother of pearl inlays.

Unique design features are found on every deck, including elegant Grecian-style pillars in the main saloon and the master suite, etched mirrored glass detailing and chandeliers in fine-cut crystal.

On the main deck, the saloon is the heart of the yacht and is the natural place for guests to gather. Entering from the aft deck, one is immediately struck by the backlit onyx wall panels and the intricate marble flooring. Rather than one single lounging area, the saloon offers a variety of sitting areas conducive to smaller groups pursuing different activities at once.

Moving forward through the main lobby, there’s a glass lift and one enters the main guest area which houses nine of Elements’ 12 suites. One level above, the owner’s deck is laid out as a private apartment with two large VIP suites each with luxury bathrooms, an office, and a cinema room, and an astonishingly luxurious owner’s stateroom. The owner’s suite opens onto a panoramic foredeck with a Jacuzzi pool and the helipad is on the bow, where a private helicopter can land in utmost privacy.

In total, Elements has accommodation for 24 guests, comprising the master suite, two VIP staterooms, four double staterooms, four twin cabins, and one smaller twin cabin.

Boarding Elements via the transom or large side platform, guests are welcomed into a 140sq.m beach club with chaise-lounges and a white and gold mosaic-finish bar. Also located on this deck is the wellness Centre with a gym, hammam spa with traditional goebetkas and a massage room.

From the beach club guests have direct access to the tender garages (housing a 8.4m limousine tender and two SOLAS approved rescue tenders) and the saloon on the main deck.

For sales enquiries contact Camper & Nicolsons.

Photo Credits: Camper & Nicolsons

GC:FEMME

Looking elegant in a formal setting does not mean that you have to dress like you’re attending a funeral. Autumn gives us a chance to blend many different looks to maintain a high quality feminine look, with a high end fashion house finish.

The GC’s fashion queens chose their look, so you can be the CEO of sass!

Brand: Alexandre Vauthier Name: Patch pocket blazer Cost: 1.665 GBP www.alexandrevauthier.com Picture credit: Alexandre Vauthier

Brand: Alexandre Vauthier Name: High waisted tailored trouser Medium Shopper. Cost: 700 GBP

www.alexandrevauthier.com

Picture credit: Alexandre Vauthier

Brand: Alexander McQueen Name: Skull detail clutch Cost: 1.450 GBP

www.alexandermcqueen.com

Picture credit: Alexander McQueen Brand: Alexandre Vauthier Name: Patch pocket blazer Cost: 1.665 GBP

www.alexandrevauthier.com

Picture credit: Alexandre Vauthier

Brand: Alexandre Vauthier Name: High waisted tailored trouser Medium Shopper. Cost: 700 GBP

www.alexandrevauthier.com

Picture credit: Alexandre Vauthier

Brand: Adam Lippes Cost: 5.565 GBP

www. adamlippes.com

Picture credit: Adam Lippes

Brand: Jimmy Choo Name: Sacora 100 sandals Cost: 1.395 GBP www. jimmychoo.com

Name: Tailored single breasted coat

Picture credit: Jimmy Choo

Brand: Melekkis Jewellery Ring Platinum with 0.36ct diamonds VS/VVS/G and 4.97ct Opal Cost: €895

Brand: Melekkis Jewellery Necklace 18K white gold with 0.31ct diamonds VS/VVS/G Cost: €950

Brand: Melekkis Jewellery Earrings 18kt white gold with 1.05ct diamonds VS/VVS/G Cost: €3.355

Melekkis Jewellery Brand: Daniel Wellington watch Cost: €249

Brand: Melekkis Jewellery Bracelet 18K White Gold with 14ct Diamonds VS/G Cost: €33.033

GC:HOMME

With the end of summer in Europe, we make a welcome transition out of the lighter materials and fabrics, and switch to our GC’s favorite time of year, autumn.

Although some may feel it is appropriate to dress like you are an overgrown man baby in the modern tech firm. The man who knows how to get deals done, dresses with timeless elegance and tailoring to show your clients that you are dealing with a professional.

Here are GC’s favorite looks for the season.

BRAND: Brioni NAME: Textured finish tie COST: 304 GBP

www.brioni.com

PICTURE CREDIT: Brioni

Brand: Brioni Name: White single cuff shirt Cost: 660 GBP www.brioni.com Photo Credit: Brioni

BRAND: Prada NAME: Brushed derby shoe COST: 645 GBP

www.prada.com

PICTURE CREDIT: Prada

BRAND: Isaia NAME: Single breasted check suit COST: 6269 GBP

www.isaia.it

PICTURE CREDIT: Isaia

BRAND: Bottega Veneta NAME: Woven leather briefcase COST: 4986 GBP

www.bottegaveneta.com

PICTURE CREDIT: Bottega Veneta

BRAND: Vivienne Westwood NAME: Holborn 39mm watch COST: 225 GBP

www.viviennewestwood.com

BRAND: Brunello Cucinelli NAME: Reversible double faced coat COST: 6700 GBP

PICTURE CREDIT: Brunello Cucinelli

www.brunellocucinelli.com

PICTURE CREDIT: Vivienne Westwood

BRAND: Jil Sander NAME: Double breasted coat COST: 2700 GBP www.jilsander.com PICTURE CREDIT: Jil Sander