One of the biggest issuers of offshore credit cards, Leadenhall Bank & Trust in the Bahamas, has had its card issuing license terminated by MasterCard.Effective July 29, 2003, all MasterCards issued by Leadenhall Bank were cancelled – a victim of the U. S. clampdown on the use of offshore cards to access the proceeds of crime, including tax evasion.
MasterCard terminates Leadenhall Bank’s credit card-issuing license
21 years ago
Topics
Bahamas Banks & Trusts Fraud Tax USAKeywords
Axxess International Leadenhall Bank & Trust MasterCard Offshore Voluntary Compliance Initiative