Leading global accountancy firms such as PricewaterhouseCoopers and KPMG are under pressure to reveal details of clients linked to tax havens around the world as part of the US and the UK attempts to crackdown on the hunt for Osama bin Laden's finances. Some investigators have complained that their enquiries have been obstructed by the firms in some jurisdictions.
'We think global accounting companies are an alternative gateway to the kind of information we may need about suspect offshore entities,' a senior US Treasury official told UK newspaper The Observer. 'Between them they run thousands of trusts offshore, and audit thousands of offshore companies. And they have their head offices here in the States... We would not rule out punitive action against their US businesses if they refused co-operation.'
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