Featured Tax Evasion

New Singapore Law Allows Global Crypto Firms to Expand Locally

Singapore is introducing new payments legislation that offers global cryptocurrency firms a chance to expand their operations in the country by applying for operating licenses for the first time. The Payment Services Act, which comes into force Tuesday, is the first comprehensive regulation for companies handling activities ranging from… Read More

Taxman unearths £200m in joint operation

HM Revenue & Customs has helped uncover £200m worth of suspected tax evasion and money laundering in the UK. The action — which occurred as part of a series of investigations in Australia, Canada, the Netherlands, the US and the UK — is centred around a Central American financial institution… Read More

Danish authorities struggling with surge in suspicious money flows

Reports of suspicious transactions submitted by banks and betting firms in Denmark have increased tenfold in recent years, straining anti-money laundering authorities which drew heavy criticism on Friday from a state auditor. Banks across the Nordic region are facing increasing scrutiny by regulators after a string of money laundering scandals,… Read More
24th January 2020
They made quite a team. One was an Oxford-educated wunderkind who handled the complicated math behind the transactions. The other was a beefy, 6-foot-2 New Zealander with an apparent fondness for Hawaiian shirts, who brought in clients and money. Martin Shields and Paul Mora met in 2004, at the London… Read More
24th January 2020
A Central American financial institution is suspected of helping clients worldwide evade taxes and launder money, according to tax investigators from the U.S., the Netherlands and three other nations coordinating a crackdown. Clients at the unidentified firm “may be using a sophisticated system to conceal and transfer wealth anonymously,” the… Read More
24th January 2020
The Vatican has been fully re-admitted to the Egmont Group of world financial intelligence units after a suspension two months ago sparked by an investigation into the purchase of luxury London real estate. Carmelo Barbagallo, president of the Vatican’s Financial Information Authority (AIF), said on Thursday the AIF would “resume… Read More
24th January 2020
Although a criminal complaint implicating Austrian banks in money laundering was filed in February 2019, authorities in Vienna never launched an official investigation into the allegations that mainly target Raiffeisen Bank International, the Austrian weekly news magazine profil said on Monday. The complaint was brought forward by investment fund… Read More
23rd January 2020
A total of 237 Maltese taxpayers had featured in the Panama Papers leak, yet the police never carried out a comprehensive probe into all those individuals and companies named. One senior police source said the bulk of the investigations were carried out by the Inland Revenue Department in an administrative… Read More
22nd January 2020
Britain’s tax agency is inviting contractors to provide a tech tool to help Britain’s tax agency combat crypto cybercriminals. What the agency wants The technology, which Her Majesty’s Revenue & Customs (HMRC) posted on Jan. 17 in an open contract call worth 100,000 pounds sterling, should gather intelligence through… Read More
20th January 2020
Pausing at the entrance to a star-studded bash at the Cannes Film Festival, ’90s icon Sharon Stone flashed her one-of-a-kind cuff bracelet. It was a wraparound hippo with rubies for eyes, sapphire nostrils and white diamond teeth. Its body was covered in brown, gray and white diamonds. The dazzling ornament… Read More
15th January 2020
British offshore tax havens will send information about Russian assets registered in their jurisdictions to the Russian tax authorities, despite London and Moscow having cancelled an international agreement which facilitates the sharing of such financial information. Jersey, Guernsey and the Isle of Man are set to share details on bank… Read More
14th January 2020
The UK’s first ever cross-government, public-private Economic Crime Plan, a collection of policy, legislative and operational commitments, was published just days before the passing of the baton from Theresa May to Boris Johnson. In this respect, the plan could be viewed as a cuckoo in Prime Minister Johnson’s policy… Read More
14th January 2020
Five years after the LuxLeaks revelations, the fight against white collar crime is failing to take off, according to the magistrates in command. This is due to a lack of qualified staff and the increasing complexity of financial transactions. The two men in charge of the fight – Patrick Konsbruck, deputy… Read More