11th April 2021
ICAP Plc’s rules for running trades that enabled what German lawmakers have called one of the costliest tax dodges in history were clear: don’t ask, don’t tell. “Do not enquire after the tax analysis of the German counterparty,” notes a 2008 memo signed off by a… Read More
8th April 2021
Take a couple of Ukrainian oligarchs sanctioned for alleged money laundering. Add a mix of Florida-based businessmen who employed the husband of a prominent Democratic politician. Throw in some political connections tracing back to Rudy Giuliani, former Ukrainian presidents and even the Kremlin. What you get is a tangled story… Read More
7th April 2021
Political opposition has been quashed. Free speech has been stifled. The independent court system may be next. But while Hong Kong’s top leaders take a tougher line on the city of more than seven million people, they are… Read More
7th April 2021
By Lara Dihmis and Tom Stocks, OCCRP, 7 April 2021 OCCRP —  British MP and anti-corruption advocate Margaret Hodge reported Lebanon’s central bank governor Riad Salame and his associates to the U.K. National Crime Agency (NCA) for money laundering and corrupt practices. Hodge’s cabinet confirmed to… Read More
7th April 2021
Latvian lender Rietumu Banka won a 75% reduction in what was once France’s highest criminal fine for a company. Rietumu, which had allegedly helped clients of a company-registration and advisory firm dodge taxes, will still have to pay 20 million euros ($23.6 million), down from the… Read More
7th April 2021
Two former Societe Generale SA bankers are challenging Swiss fines issued for failing to report suspicious deposits worth more than $700 million made by a one-time ally of Russian President Vladimir Putin. The former head of SocGen’s Swiss private bank and the ex-head of compliance, who… Read More
6th April 2021
Japan’s largest bank will rebuild its 40-year-old headquarters in Tokyo’s financial district as the lender prepares for a post-Covid world that will also see some compliance roles shift to India. The new building will “significantly reduce” facility expenses for the financial group by bringing together about 19,000 workers who are… Read More
6th April 2021
The Central Bank of UAE released new regulations for small to medium-sized enterprises (SMEs) aimed at promoting “best practices among licenced financial institutions when engaging with SMEs”. The purpose of the regulation was to improve SMEs’ access to financial products and services, following the launch of its new regulatory framework… Read More
6th April 2021
An Indian court on Tuesday dealt a blow to China’s ByteDance by dismissing its plea to unblock its bank accounts which have been frozen by federal authorities investigating alleged tax evasion. An Indian tax intelligence agency in mid-March ordered HSBC and Citibank in Mumbai to freeze accounts of ByteDance India… Read More
5th April 2021
In an interview with CNBC Squawk Box posted Thursday, Clayton said bitcoin had the status as a non-security at the SEC but this does not mean it should not be regulated. “Where digital assets land at the end of the day will… Read More