14th September 2017
With Hurricane Irma wreaking havoc across the Caribbean, some businesses in battered offshore financial centres have resorted to “extraordinary” steps to secure client data which may be targeted by fraudsters and transparency campaigners targeting sensitive information, law firms and private investigators told KYC360. In just days, Irma has caused devastation… Read More
25th July 2017
We know there are tax havens. We just can’t agree on where they are. Although many countries recognise that major corporations divert tax revenue—there’s a reason, after all, why US multinationals hold more than $2 trillion overseas—collective action is tough. Read More
21st December 2016
Cross-party group backs amendment to criminal finances bill making overseas territories introduce public registers. Read More
17th November 2016
The British Virgin Islands independent regulator, the Financial Services Commission (FSC), has fined the local arm of the Panama Papers law firm, Mossack Fonseca, $440,000 for its contravention of numerous sections of the Anti-Money Laundering and Terrorist Financing Code of Practice and BVI Regulatory Code. Read More
26th October 2016
A party that favours direct democracy, complete government transparency, decriminalising drugs and offering asylum to Edward Snowden could form the next government in Iceland after the country goes to the polls on Saturday. Riding a wave of public anger at perceived political corruption in the wake of the 2008 financial… Read More
19th October 2016
The great expectations of bringing back wealthy Indonesians’ funds from overseas under the tax amnesty have hit a snag, with many declaring their assets in the program, but with little repatriation. As of Tuesday evening, Rp 143 trillion (US$11.01 billion) have been repatriated under the amnesty, a fraction of the… Read More
19th October 2016
The Government must use “the full weight of its influence” in order to stamp out corruption, money laundering and tax evasion which is having a disproportionate impact on the world’s poorest countries, MPs have concluded. In a report, by the International Development committee (IDC), it is also claimed that there… Read More
3rd October 2016
The Dandong-based Chinese trading firm sanctioned by the U.S. last month for laundering money for a North Korean bank linked to the regime’s weapons of mass destruction program used at least 22 front companies for U.S. dollar transactions, according to U.S. court papers. Dandong Hongxiang Industrial Development Co. (DHID) established… Read More
28th September 2016
The Senate on Tuesday resolved to investigate allegations of $13.92 billion illicit financial flow involving telecommunications company, MTN, four banks and the Minister for Trade and Investment, Okechukwu Enelamah. The resolution followed a motion by Dino Melaye (APC-Kogi West) who said MTN connived with “some influential and unpatriotic Nigerians” to… Read More
11th September 2016
SINGAPORE — The State Court has sentenced a married couple to prison in a $3.6 million international money laundering case linked to Chinese telecom giant ZTE and the former prime minister of Papua New Guinea. Singaporean national Lim Ai Wah was given a five-year prison sentence Thursday,… Read More