21st August 2019
A former chief executive of HSBC’s Swiss unit has pleaded guilty to helping wealthy clients hide at least €1.6 million. AFP recently reported that Peter Braunwalder was fined $560,000 and received a one-year suspended sentence in France for his role in helping HSBC’s clients stash their cash. The Swiss Leaks… Read More
21st August 2019
France and Panama have signed a bilateral agreement in Panama City to create a group designed to curb tax fraud, announced Gérald Darmanin, French minister of public accounts. The move comes years after Panama was blacklisted amid the Panama Papers tax evasion scandal. “With Panama’s Minister of Economy and Finance, Hector Alexander, we… Read More
14th August 2019
Europe is gradually tightening the rules for the crypto space. A wave of new regulations are introducing stricter requirements for companies operating in the industry and cryptocurrency users are going to feel the difference in the coming months. The measures stem from the obligation of member states to transpose EU’s… Read More
8th August 2019
Italy’s tax authorities have made a request to their Swiss counterparts for information about possible tax evasion by UBS (UBSG.S) clients, Swiss newspaper Tages-Anzeiger reported on Wednesday. The Italian authorities are seeking help on Italian residents who held UBS accounts in Switzerland between 2015 and 2016 and who… Read More
8th August 2019
The former chief executive officer of HSBC Holdings Plc’s Swiss private bank pleaded guilty to helping wealthy clients hide assets worth at least 1.6 billion euros ($1.8 billion) as French prosecutors flex their muscles to tackle white-collar crime. Peter Braunwalder was fined 500,000 euros and given a one-year suspended… Read More
6th August 2019
Chinese officials are threatening to stop all police cooperation with France after it gave political asylum to the wife of the former Interpol chief, a Chinese national now languishing in prison on charges of bribery, a French source close to the matter said Monday. “There hasn’t been any official request… Read More
31st July 2019
Swiss bank UBS (UBSG.S) has reached a provisional deal with Italian prosecutors to pay 3 million euros ($3.3 million) to settle a money-laundering investigation, two sources said, in a move to end one of its biggest legal headaches in Europe. The bank has been grappling with two separate… Read More
29th July 2019
Switzerland’s highest court has ruled that historical data about 40,000 UBS (UBSG.S) clients must be handed to French tax authorities in a landmark case that could set a precedent for foreign governments seeking information from Swiss banks. Three of the five judges presiding at the Swiss Supreme Court… Read More
26th July 2019
At 9:15 Friday morning high on a hill overlooking Lake Geneva, five Swiss Supreme Court judges will debate whether UBS Group AG must hand over data on its French clients to Paris tax authorities as part of a crackdown on suspected tax evasion. The case, dating back… Read More
19th July 2019
AP — Finance chiefs from the Group of Seven rich democracies issued a stark warning on Thursday that cryptocurrencies like the Libra digital money recently unveiled by Facebook should not be allowed before “serious regulatory and systemic concerns” are addressed. France, which this year chairs the G-7 gatherings on topics… Read More