Transparency and openness in finance is the real issue.
If PNG was asked to close its bank accounts, it suggests there is a corruption issue.
Multinational banks are the conduit for corruption and dirty money and should be regularly audited by an international banking regulatory commission.
There should be far more transparency in banking with perhaps publication of all international transactions over a certain amount to a regulatory authority so that those that monitor such transactions can see who is corrupt and what movements of money are suspicious.
Perhaps, in the future the rules of the money payment game should be changed permanently towards greater transparency so that everyone can see exactly who is getting paid how much for what! The hypocrisy of governments acting on behalf of their people should be eliminated by greater scrutiny of money flows that represent power exchanges.
