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Millions of depositors were hurt in that process
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The Spider's Web: Britain's Second Empire

Millions of depositorswere hurt in that process

Millions of depositors
were hurt in that process

Full Transcript

00:00:01.000 --> 00:00:05.532
Millions of depositors were hurt in that process.
Duration
7 seconds
Views
17
Timestamp in Movie
00:14:46
Uploaded
Oct 30, 2025
Genres
documentary
Production
N/A

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Movie Summary

How Britain transformed from an imperial power to a financial power.
- [Narrator] Numerous whistleblowers from BCCI - The Spider's Web: Britain's Second Empire 00:06
- [Narrator] Numerous whistleblowers from BCCI
Yet the Bank of England did nothing. - The Spider's Web: Britain's Second Empire 00:05
Yet the Bank of England did nothing.
- The Bank of England had plenty of time - The Spider's Web: Britain's Second Empire 00:24
- The Bank of England had plenty of time
- [Narrator] Robin Leigh-Pemberton, the governor - The Spider's Web: Britain's Second Empire 00:12
- [Narrator] Robin Leigh-Pemberton, the governor
"If we closed down a bank every time we found an incidence - The Spider's Web: Britain's Second Empire 00:23
"If we closed down a bank every time we found an incide...
This is one of the reasons why today there are more banks - The Spider's Web: Britain's Second Empire 00:09
This is one of the reasons why today there are more banks
And that is part of the offshore business model of the UK, - The Spider's Web: Britain's Second Empire 00:07
And that is part of the offshore business model of the UK,
- [Narrator] Light-touch regulation was one way - The Spider's Web: Britain's Second Empire 00:06
- [Narrator] Light-touch regulation was one way
From the 1960s onwards, City of London institutions began - The Spider's Web: Britain's Second Empire 00:10
From the 1960s onwards, City of London institutions began
Their aim was to create offshore centers - The Spider's Web: Britain's Second Empire 00:11
Their aim was to create offshore centers
- Swiss banking secrecy is the most famous, - The Spider's Web: Britain's Second Empire 00:05
- Swiss banking secrecy is the most famous,
You put your money in a Swiss bank, - The Spider's Web: Britain's Second Empire 00:06
You put your money in a Swiss bank,
That's one kind of secrecy, but another kind of secrecy, - The Spider's Web: Britain's Second Empire 00:08
That's one kind of secrecy, but another kind of secrecy...
And the trust is a very slippery, complicated - The Spider's Web: Britain's Second Empire 00:08
And the trust is a very slippery, complicated
Trusts emerged, the legend has it, from the time - The Spider's Web: Britain's Second Empire 00:13
Trusts emerged, the legend has it, from the time
What trusts do, ultimately, is they play - The Spider's Web: Britain's Second Empire 00:06
What trusts do, ultimately, is they play
So the settlor, the knight in this case, - The Spider's Web: Britain's Second Empire 00:12
So the settlor, the knight in this case,
Nobody's gonna find anything - The Spider's Web: Britain's Second Empire 00:06
Nobody's gonna find anything
- [Narrator] In Britain's offshore jurisdictions, - The Spider's Web: Britain's Second Empire 00:08
- [Narrator] In Britain's offshore jurisdictions,
Anyone can set up a trust and act as a trustee. - The Spider's Web: Britain's Second Empire 00:06
Anyone can set up a trust and act as a trustee.