THE City of London has become a “paradise for money launderers” because Britain’s legal system allows people depositing money to hide their identities behind a trust system, the president of the Swiss Bankers’ Association said yesterday.

Two prison guards taken captive after a failed escape attempt were freed today, nearly 24 hours after being taken hostage.

Tense negotiations were continuing today with armed prisoners holding two guards hostage at a high security Paris prison - nearly 20 hours after a failed escape attempt via helicopter.