14th November 2017
By Simon Jack, BBC In the US, the Senate intelligence committee has said it is confident that Russia intervened in the US election. In the UK, Damian Collins, the chair of the digital, culture, media and sport committee has written to Facebook chief executive Mark Zuckerberg, asking him to provide… Read More
13th November 2017
Jersey Evening Post An ‘offshore magic circle’ of law firms – including Jersey companies – are ‘terrified’ of the risk to their businesses following the Paradise Papers data leak, according to a Financial Times report. But according to sources quoted by the FT, they are also poised to steal the… Read More
13th November 2017
KYC360 News Members of a criminal gang comprising a banker, lawyer and other professionals, have been jailed for a $107.9 million tax fraud scheme. The six men, who were given sentences totalling 45 years, devised a fake eco-investment plot as a tax break for rich investors. “The scheme enticed high… Read More
13th November 2017
By Scilla Alecci, ICIJ From film stars to famous manga artists, journalists working on the Paradise Papers investigation have followed the money to cities where the streets do have names – and where local authorities, in at least one case, were asking questions. Files from the Maltese corporate registry revealed… Read More
13th November 2017
10 November 2017 By Tom Sims, Hans Seidenstuecker, REUTERS Germany’s Commerzbank has become the target of a tax evasion probe in which several current and former managers are suspected of evading 40 million euros (35.59 million pounds) in taxes via so-called dividend stripping. Prosecutors said on Friday they had searched… Read More
13th November 2017
By Rob Davies, Guardian HSBC has revealed that it closed accounts linked to South Africa’s Gupta family corruption investigation, admitting for the first time concerns about its potential ties to the snowballing scandal. The bank said it had also flagged up its worries to the financial crime expert who has… Read More
10th November 2017
The developments around audit firm KPMG following its implication in state capture has stressed the need to introduce reforms in the auditing and accounting professions, said Deputy Reserve Bank Governor Francois Groepe. Groepe delivered an address at the Financial Stability Forum at the South African Reserve Bank (SARB) on Thursday… Read More
10th November 2017
10 November 2017 Standard Chartered said it faces a further extension of its U.S. deferred prosecution agreements (DPAs) until July next year, in a sign it has yet to improve its sanctions compliance to the satisfaction of U.S. authorities. StanChart first entered into the agreements with the U.S. Department of… Read More
10th November 2017
After demonetisation of high-value banknotes, the Enforcement Directorate (ED) conducted 620 searches between November 2016 and September 2017 on suspicion of violation of foreign exchange rules, and money laundering, the agency said in a report on Thursday. ED said it had issued 597 showcause notices involving violations of the Foreign… Read More
9th November 2017
Secretary of State Rex Tillerson said Thursday that the US and China are seeing “certain signs” that international sanctions imposed against North Korea are beginning to impact the country’s economy. “It is creating some stress within North Korea’s economy,” Tillerson said, pointing to US and Chinese intelligence. Japanese strangers… Read More