22nd May 2017
The government is considering the possibility of imposing further sanctions on North Korea, which has been repeatedly conducting acts of provocation, Foreign Minister Fumio Kishida suggested Sunday. “We need to consider what is the most effective action against North Korea, while keeping a close watch on moves by the reclusive… Read More
22nd May 2017
In North Korea, a land of mysteries, puzzles, and riddles, let me add a question: How fast is the economy growing? A New York Times article from the end of last month hints that growth is fast. “The economy in North Korea is showing surprising signs of life,” the paper… Read More
22nd May 2017
A North Korean passenger ferry has docked in Russia’s far-eastern port of Vladivostok for the first time. The vessel, called the Mangyongbong, will sail once a week to the port city and will also carry cargo. North Korea is under wide-ranging UN sanctions. The ferry service comes amid heightened tension… Read More
22nd May 2017
Money laundering crimes could be “slipping through the net” because of cuts to the budget at the City of London Police, an accountancy firm has claimed. Over the last five years just 104 investigations have been opened, according to the City of London Police annual report. At the same time,… Read More
22nd May 2017
The government’s new regulation granting federal tax authorities greater access to individual financial account information will not disrupt status quo banking activities, an economist said on Wednesday (17/05). “The implementation of this regulation in lieu of law isn’t expected to disrupt the banking sector, as most banks in OECD [Organisation… Read More
22nd May 2017
The arrest of Adam Cranston over an alleged $165 million tax fraud could have serious consequences for the Australian Taxation Office and even the investigation into the Panama Papers, Senator Nick Xenophon says. Adam Cranston is the son of deputy tax commissioner, Michael Cranston, who is now facing a charge… Read More
19th May 2017
Iran struck back against new Trump administration sanctions against its ballistic missile program, calling them illegal and announcing sanctions of its own. In a tit-for-tat move, Iran sanctioned seven entities and two individuals on Thursday, including Horacio Rozanski, chief executive officer of Booz Allen Hamilton Holding Corp., alleging human rights violations… Read More
19th May 2017
Treasury Secretary Steven Mnuchin sat in front of the Senate Banking Committee on Thursday and attempted to explain the Trump administration’s position on various economic policies, including the regulation of large banks. Mnuchin continually said that the administration supports a “21st Century Glass-Steagall,” referring to the Depression-era bill that required… Read More
19th May 2017
The European Commission will be forced to draw up a new blacklist of countries that facilitate money laundering after the European Parliament overwhelmingly rejected the latest effort that failed to consider countries that enable tax evasion. EU lawmakers voted 392-80, with 207 abstentions, to reject the list that includes 11… Read More
19th May 2017
Russia is warning Canada the adoption of a Magnitsky-style law would result in a significant blow to bilateral relations, while a prominent Russian dissident commends Ottawa’s decision to support sanctions against human-rights abusers worldwide. In a statement published Thursday, the Russian Foreign Ministry condemned an announcement by Canadian Foreign Affairs… Read More