Trump oversees all-time low in white collar crime enforcement
12th August 2020
Trump oversees all-time low in white collar crime enforcement
Donald Trump calls himself the “law and order” president, but when it comes to white collar crime, he has overseen a significant decline in enforcement. The prosecution of securities fraud, antitrust violations and other such crimes has hit a record low as the pandemic slows the courts, according to one… Read More
Tax affairs of 246 footballers being investigated by HMRC in 2019-20
11th August 2020
Tax affairs of 246 footballers being investigated by HMRC in 2019-20
The number of footballers investigated by HMRC rose dramatically in the tax year 2019-20, going up from 87 to 246 individuals, according to research by the accountancy firm UHY Hacker Young. The figures show footballers and their image rights are coming under increasing scrutiny as the UK tax authorities look… Read More
Company ownership registers: ‘Don’t dismiss the racial bias claims in Bermuda’
7th August 2020
Company ownership registers: ‘Don’t dismiss the racial bias claims in Bermuda’
Deputy Kirsten Morel, who chairs the Economic Affairs Scrutiny Panel, recently addressed comments made in Bermuda newspaper The Royal Gazette in an article discussing the territory’s move to introduce legislation for full transparency on company ownership by January 2023. In 2018, the UK parliament passed laws requiring the Overseas Territories… Read More
Tax haven residents hold $5.7 billion of cash in Australia
4th August 2020
Tax haven residents hold $5.7 billion of cash in Australia
Residents of known tax havens held more than $5.7 billion of cash in Australian bank accounts, according to figures released for the first time, suggesting the local financial system remains vulnerable to money laundering and tax avoidance. The data from the Australian Taxation Office has been made public as part… Read More
Warning over Monzo financial crime review
4th August 2020
Warning over Monzo financial crime review
Monzo is reviewing the quality of its financial crime controls and warned that the outcome could have a significant impact on its finances. The troubled digital bank, which issued a warning on Thursday over its ability to remain in business, began an investigation of its “financial crime control framework”… Read More
London Laundromat: Police seize £2 million profits of Italian mafia gang held in British banks
24th July 2020
London Laundromat: Police seize £2 million profits of Italian mafia gang held in British banks
More than £2 million of profits made by an Italian mafia gang and held in British bank accounts has been seized by City of London police. Westminster magistrates’ court ordered the forfeiture of the cash after detectives submitted evidence that it was being channelled through London in… Read More
Argentina confronts its multi-billion dollar offshore wealth problem
24th July 2020
Argentina confronts its multi-billion dollar offshore wealth problem
By Eli Moskowitz, OCCRP, 23 July 2020 OCCRP – As Argentina has been renegotiating its US$65 billion debt with foreign creditors, it is also grappling with the fact that up to six times that amount is believed to be held by its citizens and companies offshore. Repatriating a portion… Read More
U.K.’s Russia report demands major rethink of ‘Golden Visas’
23rd July 2020
U.K.’s Russia report demands major rethink of ‘Golden Visas’
A costly visa favored by Russian oligarchs and other wealthy investors should be completely revised because it was widely exploited and applicants weren’t adequately vetted, according to a report that laid out the scale of the country’s infiltration in U.K. society and politics. “The U.K. welcomed Russian money, and… Read More
Police raid Swiss arm of ’NDrangheta mafia clan
23rd July 2020
Police raid Swiss arm of ’NDrangheta mafia clan
Italian and Swiss police have rounded up 74 suspected members of the ’NDrangheta mafia, lifting the lid on the international reach of the secretive criminal organisation. More than 700 officers took part in raids in Calabria, the crime syndicate’s home in the toe of Italy, and in Switzerland, seizing assets… Read More
Wife of drug kingpin Michael Ibrahim arrested with bankrupt George Alex
22nd July 2020
Wife of drug kingpin Michael Ibrahim arrested with bankrupt George Alex
Construction industry identity George Alex, his son Arthur and the wife of jailed drug kingpin Michael Ibrahim are allegedly among members of a major crime syndicate who have been arrested over their involvement in tax fraud and money laundering. In raids across Sydney and the Gold Coast on Tuesday morning,… Read More
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