Featured BVI

Malta: Attorney General blocks publication of Keith Schembri inquiry

Malta’s new attorney general has refused to release a copy of an inquiry into whether the former prime minister’s chief of staff, Keith Schembri, took a €100,000 kickback on passport sales. The inquiry was based on a leaked FIAU report that raised suspicions about two €50,000 transactions that passed between… Read More

BVI: Gambling law guts rules in original bill

Gambling is now officially legal in the Virgin Islands, but it may not be as tightly controlled as legislators previously claimed. When Premier Andrew Fahie introduced the controversial gambling bill in February, he promised that it would include extensive measures that would ensure the industry is well regulated. But… Read More

Tax Rules for the Super-Rich Make the Isle of Man a Haven for Private Jets

OCCRP – Oleg Tinkov is a self-made Russian billionaire with a penchant for private jets and luxury homes around the globe that bear his name, just like the online bank he founded. For years, Tinkov flaunted this lavish lifestyle on social media. In February, his family flew a $58-million… Read More
7th August 2020
Deputy Kirsten Morel, who chairs the Economic Affairs Scrutiny Panel, recently addressed comments made in Bermuda newspaper The Royal Gazette in an article discussing the territory’s move to introduce legislation for full transparency on company ownership by January 2023. In 2018, the UK parliament passed laws requiring the Overseas Territories… Read More
3rd August 2020
The phrase “shell company” conjures images of offshore havens such as Panama or the British Virgin Islands, but one of the world’s leading enablers of financial secrecy is actually the United States. In every state, more personal details and proof of identity are required to get a library card… Read More
31st July 2020
Labour has stepped up pressure on the government to launch a tougher crackdown on money laundering after the Russia report warned that the City of London was being used as a “laundromat” for illicit funds. Issuing a warning to Boris Johnson’s government that it could not shrug off the… Read More
29th July 2020
The government of the U.S. Virgin Islands is upping the ante in its quest to pierce the veil of secrecy that cloaked the life and wealth of financier Jeffrey Epstein, the deceased sex-offender who accrued a fortune of more than $650 million under mysterious circumstances. At least ten financial institutions… Read More
24th July 2020
By Eli Moskowitz, OCCRP, 23 July 2020 OCCRP – As Argentina has been renegotiating its US$65 billion debt with foreign creditors, it is also grappling with the fact that up to six times that amount is believed to be held by its citizens and companies offshore. Repatriating a portion… Read More
16th July 2020
UK officials praised progress by eight British overseas territories to open their company registers to the public by 2023, in a statement Wednesday. The commitments, long-sought by transparency advocates, will permit private citizens to access data on the beneficial owners of companies registered in Anguilla, Bermuda, Cayman Islands, the Falkland Islands,… Read More
13th July 2020
A Russian-Syrian business network has been accused of using Moscow front companies, tax havens in British overseas territories and European countries to transfer millions of dollars around the world for the Assad regime. The network, run by a Russian-Syrian businessman called Mudalal Khouri and his brothers, is said to have… Read More
7th July 2020
‘Money laundering is modern-day alchemy. You take cash earned from criminal activity, put it through a system designed to obliterate any trail of its origins, and then bring it out the other end as legitimate income,” said Jeffrey Robinson, author of The Laundrymen, a seminal book on the subject. Money… Read More
1st July 2020
Senior Wirecard employees were linked to an opaque network of British companies associated with alleged money laundering. Staff from the scandal-hit German payment processor were shareholders in a company creation operation in the northeast of England that was shut down after a government investigation. The revelations will increase scrutiny of… Read More
24th June 2020
Foreign companies own £4.4 billion worth of Scottish property, The Ferret can reveal, leading to calls for greater transparency to stop Scotland losing out on tax revenue. Concerns have also been raised about the need for urgent action to stop criminals using opaque foreign companies to invest in Scottish property… Read More