11th October 2017
By Nate Raymond, REUTERS A Brazilian whose arrest led U.S. authorities to discover $17 million (£12.89 million) hidden under a mattress is expected to plead guilty on Wednesday after being charged with try to launder funds tied to one of the largest pyramid schemes ever. Cleber Rene… Read More
9th October 2017
9 October 2017 KYC360 News Britain is to establish a new court for economic fraud and cybercrime cases in London’s City district, which is home to leading technology, financial and professional service corporations. The proposed new combined court, which will also hear other criminal and civil cases, would see a… Read More
9th October 2017
9 October 2017 KYC360 News The United States has lifted key sanctions on Sudan, ending more than two decades of economic restrictions with the North African state. The revocation, which will be effective as of 12 October, is expected to boost aspects of Sudan’s economy, such as aviation, agriculture and… Read More
9th October 2017
9 Ocotber 2017 By Cindy Silviana, Hidayat Setiaji, REUTERS Indonesia is investigating reports that $1.4 billion (1.07 billion pounds) held by Standard Chartered Plc (STAN.L) in Guernsey, mainly on behalf of Indonesian clients, was transferred to Singapore just before the island moved to new tax transparency rules, officials said. A… Read More
6th October 2017
KYC360 News The European Union has developed an interactive tool aimed at providing easy access to updated information on the raft of blacklists and asset freezes it publishes. Restrictive measures meted out by leading economies are constantly watched globally by governments, regulators and banks, some of which have been… Read More
6th October 2017
KYC360 News The mastermind of a six-strong gang has been jailed for laundering cash and setting up a bogus catering firm to fraudulently claim VAT. Michael Akindele, a director of Mitcham-based TGL Logistics, which handles exports mainly to Nigeria, set up the fake caterer to claim VAT payments totalling… Read More
6th October 2017
– By Akhilesh Sharma, NDTV Among the top offenders of companies whose bank accounts were blocked last month by the government for illegal transactions and tax evasion was one that had more than 2,000 bank accounts, making it tough for tax officials to track transactions. Last month, the Finance Ministry… Read More
5th October 2017
By Sarah Butler, THE GUARDIAN Tesco staff were under pressure and at least one executive feared jail over actions they were alleged to be taking to meet 2014 financial targets that looked “insurmountable”, a whistleblower has told a court in London. Carl Rogberg, former finance director of Tesco UK, together… Read More
3rd October 2017
3 OCTOBER, 2017 – REUTERS Indian businessman Vijay Mallya, who India wants to extradite from Britain on fraud charges, faces further accusations of money laundering with some funds allegedly going to his Force India Formula One motor racing team, a London court heard on Tuesday. The flamboyant Indian liquor and… Read More
3rd October 2017
By Indian Express, PTI The infotech arm of engineering conglomerate, Larsen & Toubro Ltd-owned L&T Infotech Ltd, will track social media accounts of taxpayers to see if their spending patterns are in accordance with their tax declarations in order to nab the tax evaders, according to a company official. Read More