How The West's Financial System Assists Corrupt African Despots

Omar Bongo, the president of Gabon until his death last year, was said to have brought $1m to the US in shrink-wrapped $100 notes. His daughter then put the cash in her safe deposit box. AFP/GETTY IMAGES

Africa's Illicit Money Sent To Western Banks -- The Independent

Some of the continent's leaders used the US financial system to protect millions of dollars.

Several African leaders, their relatives and associates used Western banks, including British ones, to move hundreds of millions of dollars out of their countries and into accounts and companies they controlled, according to a US Senate report released late last week.

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My Comment: This is probably just the tip of the iceberg.

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