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
Radio Free Europe, Radio Liberty ad Hariri, who resigned as Lebanon’s prime minister last week, says his country faces the risk of sanctions being imposed by Gulf Arab nations because of the Iran-backed Hizballah movement’s activities in Lebanon. Hariri made the comments in a television interview from Saudi Arabia on… 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
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
9th November 2017
9 November 2017 The U.S. Justice Department is exploring ways to prevent multiple law enforcement agencies from slapping companies with corporate penalties over the same underlying misconduct, a senior official said on Wednesday. “Repeated punishment for the same conduct has the potential to undermine the spirit of fair play… Read More
9th November 2017
Anti-corruption organisation Transparency International UK has found more than 760 companies registered in the UK were directly involved in laundering stolen money from at least 13 countries, as part of analysis of 52 cases of global corruption worth £80bn. This new research, Hiding in Plain Sight, claims companies are used… Read More
7th November 2017
7 November 2017 By Maya Nikolaeva Societe Generale said the French financial prosecutor had opened a preliminary investigation into possible violations by the bank of French anti-corruption laws, and had requested documents on its ties with the Libyan Investment Authority. Earlier this year Societe Generale agreed to pay nearly 1… Read More
7th November 2017
RAPSI News Boris Titov, the Kremlin’s business ombudsman, told journalists about the concept of digital currency regulation in Russia that encompasses questions linked to blockchain, cryptocurrency technologies, operation of cryptocurrency trading platforms. According to Titov, it is necessary to draft laws and expand Russian jurisdiction in this dynamically developing… Read More