15th September 2020
Federal regulators are preparing to reprimand Citigroup Inc. for failing to improve its risk-management systems—an expansive set of technology and procedures designed to detect problematic transactions, risky trades and anything else that could harm the bank. The expected rebuke from the Office of the Comptroller of the Currency and… Read More
15th September 2020
The Philippines is in danger of being included anew in the gray list of Paris-based dirty money watchdog Financial Action Task Force (FATF) if the country fails to pass the necessary amendments to the anti-money laundering law, according to the Anti-Money Laundering Council (AMLC). AMLC Secretariat executive director Mel Georgie… Read More
11th September 2020
Michael Jordan, Sandra Bullock and Paris Hilton holiday there. Justin Timberlake and Janet Jackson wrote lyrics about it. But, last week, the Caribbean island of Anguilla drew attention for other reasons. The paradisiacal tax haven slipped further down a key global transparency index, according to a new report by… Read More
11th September 2020
Former Volkswagen (VOWG_p.DE) Chief Executive Martin Winterkorn will face charges of conspiracy to commit organized commercial fraud with a high likelihood of conviction, a court probing the carmaker’s diesel emissions scandal said on Wednesday. A court in Braunschweig, Germany, near where Volkswagen is headquartered, expanded the list of charges… Read More
10th September 2020
One of the UK’s most prestigious law firms is being investigated by regulators who have spent at least two years examining it, sending investigators into its central London offices. The Guardian has established that the Solicitors Regulation Authority (SRA) is conducting a complex investigation into Mishcon de Reya, involving… Read More
9th September 2020
The Federal Government on Tuesday re-arraigned an oil magnate, Aliyu Abubakar, and seven others on a 67-count criminal charge over their alleged involvement in the disputed Oil Processing License (OPL) 245 otherwise known as Malabu Oil. Abubakar was in July arraigned on a 48-count criminal charge bordering on money laundering,… Read More
9th September 2020
Thirty people were arrested Monday as police revealed they had cracked an allegedly massive graft plot involving hundreds of millions of shekels in tax evasion and money laundering. The scam involved the fraudulent takeover of hundreds of companies in the fuel sector that were then used to issue fake financial… Read More
8th September 2020
Malta’s lucrative financial services industry and its international ranking has suffered another blow as the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has downgraded the island’s standing to “partially compliant”. This downgrade ranks Malta as one of the countries with the lowest standards in the… Read More
2nd September 2020
This morning, the Attorney General’s Office announced it had arrested Gerardo Sosa Castelán over money laundering charges. Sosa Castelán is a politician from the Institutional Revolutionary Party (PRI) and the head of the board of trustees at Hidalgo’s Autonomous University (UAEH). The board of trustees at Hidalgo’s Autonomous University was… Read More
1st September 2020
The taxman has boosted payments to those tipping it off about tax dodgers. They include disgruntled employees and spouses who “know where the bodies are buried”, says the law firm RPC. HM Revenue & Customs (HMRC) paid £473,000 to informants in the 12 months to April 2020 — up from… Read More