Long before the Paradise Papers, or the Panama Papers, the Enron scandal, Savings and Loan crisis, WorldCom, and the Global Financial Crisis, governments in the US, UK and Australia were colluding with the world’s biggest banks and their clients using aggressions dynamics not to defeat but to suborn the controls of the supposedly independent professionals: The accountants.

The great swathes of coverage being given to the Paradise Papers largely focuses attention on its beneficiaries and the specialised offshore marketers of the schemes, but scant attention has been directed towards The Big Four global accounting firms like Pricewaterhouse Coopers (PWC), Ernst & Young (EY), Deloitte and KPMG, that enabled tax dodging by aggressively marketing schemes in Luxembourg, Panama, Jersey, the Cayman Islands and the British Virgin Islands to their clients using firms like Appleby as conduits.

Long before the Paradise Papers, or the Panama Papers, the Enron scandal, Savings and Loan crisis, WorldCom, and the Global Financial Crisis (GFC) governments in the United States, the UK and Australia were colluding with the world’s biggest banks and their clients using aggressions dynamics not to defeat but to suborn the controls of the supposedly independent professionals: The accountants.

They aren’t just designing new tax avoidance schemes the likes of which feature in the Paradise and Panama Papers. The Big Four accountancy firms are lobbying for and directly drafting the very regulations and loopholes that enable them.

How to run a control fraud

The best way to run a control fraud is to turn the independent professionals that provide internal and external controls – auditors, appraisers, and credit ratings agencies – into allies, and use their reputation, alleged professionalism and independence to assist you in convincing the victims of your fraud, to trust you.

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