11th December 2020
King Juan Carlos, Spain’s former monarch, has paid about $820,000 in back taxes, his lawyer said on Wednesday, amid an investigation by prosecutors into whether he and other members of the royal family used bank accounts in other people’s names to hide assets from the tax authorities The king’s… Read More
10th December 2020
Not all American taxpayers with undeclared accounts in Switzerland have been uncovered by the International Revenue Service (IRS). While the small fry were caught in shallow waters, several large fish continue to lurk in the depths of the banking sector. Some have even managed to escape to more lenient jurisdictions. Read More
7th December 2020
Spain’s scandal-hit former king Juan Carlos I has submitted a declaration to the Spanish tax office seeking to put his financial situation in order, El Pais newspaper reported on Sunday. The voluntary declaration was presented by his lawyer with sources telling the paper the move was in connection with an… Read More
3rd December 2020
A plan to ban cash payments of $10,000 or more that threatened to split the Liberal Party has been dumped, with the move now “dead, dead and dead”. In a motion moved by One Nation, the Senate on Thursday officially dumped debate on the proposal that emerged from the government’s… Read More
2nd December 2020
With only a day to go before the deadline for EU member-states to transpose the bloc’s Sixth Anti-Money Laundering Directive (6AMLD), significant questions remain unanswered about how it will be enforced on a national-level. In an apparent response to recent banking scandals, the directive will make the “aiding and… Read More
2nd December 2020
The Bahamas’ inclusion on the European Union’s (EU) black list and Financial Action Task Force’s (FATF) gray list, has caused some local financial institutions to be refused service by correspondent banks, Attorney General Senator Carl Bethel said on Friday, adding that those lists have left The Bahamas at a competitive… Read More
25th November 2020
Corporate services provider Credence, which featured in an extensive European Investigation Collaborations exposé on tax avoidance in Malta, has been fined €261,000 by the Financial Investigation Analysis Unit for breaches of various money laundering obligations. Credence Corporate Advisory Services is a Maltese law firm which featured in stories on the… Read More
11th November 2020
MAS (Monetary Authority of Singapore) has issued a consultation paper on the types of information required for non-face-to-face verification of an individual’s identity. The proposed requirements come against the backdrop of rising impersonation scam cases, and seek to address the risks arising from theft and misuse of an individual’s personal… Read More
30th October 2020
Former South Korean President Lee Myung-bak faces spending much of his remaining years in prison, after the Supreme Court upheld a lower court’s corruption conviction against the conservative ex-leader. Lee, 78, planned to surrender to prosecutors by Monday, his lawyer said Thursday, after South Korea’s highest court denied his final… Read More
29th October 2020
Attorney General Avichai Mandelblit informed Likud MK Haim Katz Tuesday that he intends to indict him for alleged tax offenses, pending a hearing. Mandelblit’s intention to do so was first reported Monday night by Channel 12. Katz, who already faces another indictment on fraud and breach of trust charges, is… Read More