Featured Tax Evasion

Mexico to auction Lamborghini, other seized assets to help poor

Mexico’s government will auction a Lamborghini, homes and other assets seized from gangsters and at least one former politician, officials said on Tuesday, part of a “Robin Hood” program to use millions of dollars in ill-gotten gains to aid the poor. The first auction, set for Sunday, will seek bids… Read More

Trump loses lawsuit challenging subpoena for financial records

A U.S. judge on Monday ruled in favor of a U.S. House of Representatives committee seeking President Donald Trump’s financial records from his accounting firm, dealing an early setback to the Trump administration in its legal battle with Congress. U.S. District Judge Amit Mehta in Washington also denied a request… Read More

Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control

By Iwa Salami, University of East London The 21st-century revolutionaries who have dominated cryptocurrencies are having to move over. Mainstream financial institutions are adopting these assets and the blockchain technology that enables them, in what is perhaps the most profound development since the birth of cryptocurrencies through… Read More
17th May 2019
Latvia came under renewed pressure to accelerate financial reforms as a senior U.S. official, at a meeting with its prime minister, underscored the urgent need for stricter controls after a money laundering scandal. His remarks come more than a year after the United States acted to shut down ABLV, a… Read More
17th May 2019
Frankfurt public prosecutors said they led a nationwide raid on eight homes and 11 banks on Wednesday as part of an investigation into wealthy individuals suspected of tax evasion. The action was a follow-up on a police raid last November of Deutsche Bank over money laundering allegations linked to the… Read More
15th May 2019
Facing unprecedented pressure to clamp down on criminal groups, UK law enforcement officials are in need of an additional £2.7 billion in funding over the next three years, the head of the National Crime Agency (NCA) said Monday. The agency is seeking a 54-percent increase in its annual budget, which… Read More
15th May 2019
European Union finance ministers are set to remove this week the British overseas territory of Bermuda, the Dutch Caribbean island of Aruba and Barbados from the bloc’s blacklist of tax havens, an EU official said on Monday. The three islands were added to the list in March because the EU… Read More
13th May 2019
Criminals had placed an estimated $7 billion CAD in real estate in the Canadian province of British Columbia (BC) as of last year, according to a report published Thursday. The sum made up nearly five percent of the total property-related transactions in the province and accounted for an approximate 5-percent… Read More
10th May 2019
Brazilian lawmakers dealt a blow to the country’s graft-busting Justice Minister Sergio Moro on Thursday, when a congressional committee voted to transfer a key tool for monitoring financial transactions to the recently-formed Economy Ministry. The lawmakers also voted to reverse President Jair Bolsonaro’s decree giving the Agriculture Ministry power to… Read More
9th May 2019
Danske Bank has hired Morgan Stanley’s Satnam Lehal to lead its financial crime unit amid allegations that the institution played a prominent role in one of the largest money laundering scandals in recent years. Lehal, 41, has served as a managing director and international head of financial crime at Morgan… Read More
8th May 2019
Hundreds of thousands of UK companies have exploited loopholes and lax regulatory enforcement to circumvent rules on reporting their beneficial owners, a British watchdog group said Monday. A study by London-based Global Witness found that the number of corporations that have reported to the UK Companies House… Read More
7th May 2019
AP — Michael Cohen took a last swipe at President Donald Trump while reporting to federal prison Monday to start a three-year sentence for crimes including tax evasion and campaign finance violations related to hush-money payments made to protect his former boss. Cohen, who turned on Trump last summer after… Read More
3rd May 2019
UBS Group shareholders refused on Thursday to endorse the performance of the Swiss bank’s leadership last year in a rare rebuke sparked by a French conviction for helping wealthy clients evade taxes. Formal discharge of liability for board directors and senior management, typically a formality, won only 41.7 percent support… Read More