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[Narrator] Accountants and lawyers from London arrived
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The Spider's Web: Britain's Second Empire

Accountants andlawyers from London arrived in the Cayman Islands andother British...

[Narrator] Accountants and
lawyers from London arrived in the Cayman Islands and
other British dependencies and began to draft a set of financial secrecy laws and regulations

Full Transcript

00:00:01.000 --> 00:00:03.019
- [Narrator] Accountants and lawyers from London arrived
00:00:03.019 --> 00:00:06.355
in the Cayman Islands and other British dependencies
00:00:06.355 --> 00:00:07.837
and began to draft a set
00:00:07.837 --> 00:00:12.001
of financial secrecy laws and regulations.
Duration
13 seconds
Views
26
Timestamp in Movie
00:07:19
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.
Because these jurisdictions' main selling point was secrecy, - The Spider's Web: Britain's Second Empire 00:09
Because these jurisdictions' main selling point was sec...
- What the Cayman Islands was doing - The Spider's Web: Britain's Second Empire 00:06
- What the Cayman Islands was doing
Drug money was coming in, in huge quantities, tax evasion. - The Spider's Web: Britain's Second Empire 00:06
Drug money was coming in, in huge quantities, tax evasion.
Whatever you wanted, you could have it. - The Spider's Web: Britain's Second Empire 00:05
Whatever you wanted, you could have it.
- [Narrator] The Bank of England was observing - The Spider's Web: Britain's Second Empire 00:25
- [Narrator] The Bank of England was observing
"There is of course no objection - The Spider's Web: Britain's Second Empire 00:16
"There is of course no objection
- These small territories, - The Spider's Web: Britain's Second Empire 00:10
- These small territories,
Seven of them are bonafide a tax haven, - The Spider's Web: Britain's Second Empire 00:09
Seven of them are bonafide a tax haven,
Some of the biggest tax havens - The Spider's Web: Britain's Second Empire 00:06
Some of the biggest tax havens
- [Narrator] With access to large amounts of offshore money, - The Spider's Web: Britain's Second Empire 00:08
- [Narrator] With access to large amounts of offshore money,
By 1980, it had reached $500 billion. - The Spider's Web: Britain's Second Empire 00:05
By 1980, it had reached $500 billion.
And by 1997, nearly 90% of all international loans were made - The Spider's Web: Britain's Second Empire 00:09
And by 1997, nearly 90% of all international loans were made
The British Empire had sunk, leaving hardly a trace behind. - The Spider's Web: Britain's Second Empire 00:07
The British Empire had sunk, leaving hardly a trace behind.
But the City of London adapted and survived. - The Spider's Web: Britain's Second Empire 00:06
But the City of London adapted and survived.
The City of London, London's financial district, - The Spider's Web: Britain's Second Empire 00:07
The City of London, London's financial district,
It has been called a city within a city, - The Spider's Web: Britain's Second Empire 00:07
It has been called a city within a city,
It is run by an organization - The Spider's Web: Britain's Second Empire 00:14
It is run by an organization
- Those of you who aren't from the UK, - The Spider's Web: Britain's Second Empire 00:13
- Those of you who aren't from the UK,
The City of London is a separate entity to the wider London, - The Spider's Web: Britain's Second Empire 00:11
The City of London is a separate entity to the wider London,
- [Narrator] Every November, - The Spider's Web: Britain's Second Empire 00:09
- [Narrator] Every November,