Featured Isle Of Man

British Tax Havens to Share Data With Russian Authorities

British offshore tax havens will send information about Russian assets registered in their jurisdictions to the Russian tax authorities, despite London and Moscow having cancelled an international agreement which facilitates the sharing of such financial information. Jersey, Guernsey and the Isle of Man are set to share details on bank… Read More

Getting the Economic Crime Plan Done: Why Economic Crime Matters for Johnson’s ‘Global Britain’

The UK’s first ever cross-government, public-private Economic Crime Plan, a collection of policy, legislative and operational commitments, was published just days before the passing of the baton from Theresa May to Boris Johnson. In this respect, the plan could be viewed as a cuckoo in Prime Minister Johnson’s policy… Read More

Tax authorities investigate new leaks incriminating Belgians

The Belgian tax authorities are investigating two new sets of banking leaks from London and the Isle of Man, documents which contain 11,000 links to Belgian taxpayers. The news comes in reports in Le Soir, De Tijd and Knack, whose reporters are members of an international consortium of investigative… Read More
19th November 2019
Cayman National Bank has announced that its subsidiaries in the Isle of Man were hacked by a well known hacking group on Sunday. Although the bank has not named that group, it appears from European media that it was Phineas Fisher, an infamous, anti-capitalist vigilante hacker group that targets… Read More
16th October 2019
It has created 470,000 jobs. It contributes over $11 billion to the economy. It has even sparked a diplomatic clash with China. The strange thing is, nobody is sure who fully owns it. It’s not as though the Philippine offshore gaming operators who are transforming Manila, known collectively as POGOs,… Read More
11th October 2019
The Cayman Islands said on Wednesday it would make public information on the beneficial ownership of companies, prompting anti-corruption campaigners to call on other offshore jurisdictions to follow suit as part of a global crackdown on money-laundering. The Cayman Islands government said it expected public registers of beneficial ownership –… Read More
30th July 2019
John Christensen called Jersey home. A native of the scenic isle off England’s southern coast, he was a government economist with a hillside villa that had views of France. “I was set,” Christensen said last month in an interview at a London cafe. “We had a pretty good lifestyle and… Read More
21st June 2019
Guernsey, Jersey and the Isle of Man committed on Wednesday to naming the individuals who own or otherwise control corporations operating in their jurisdictions as part of an effort to meet EU anti-money laundering standards. Beginning in 2021, the islands will interconnect corporate beneficial ownership registers with similar databases in… Read More
14th December 2018
The Royal Court in Jersey has ruled that a trust for a convicted fraudster should be allowed to open a bank account on the Isle, despite being denied banking services in other jurisdictions. The case put before the Jersey court is linked to another infamous scam, unrelated to the trust… Read More
12th November 2018
The European Commission has launched proceedings against the Isle of Man after its probe into the Paradise Papers uncovered widespread VAT evasion in the yacht and aviation industries in the bloc. The EU investigation was launched following the Paradise Papers exposé which showed – amongst other issues – that wealthy… Read More
27th August 2018
The UK’s parliamentary research department has published a paper on registers of beneficial ownership. The study outlines the beneficial ownership structure in the UK, and also looks at issues around its Overseas Territories. It explains that the UK has registers of beneficial ownership for three different types of assets: companies,… Read More
17th May 2018
The United Kingdom’s Crown dependencies (CDs) are facing increasing calls to adopt public registers of beneficial ownership, after British lawmakers voted to compel the overseas territories (OTs) to implement the measures. British parliamentarians from both the Tory and Labour parties recently voted to make it compulsory for the OTs to… Read More
2nd May 2018
Britain’s government agreed on Tuesday to order its overseas territories to make secretive company ownership information public to try to tackle corruption and tax avoidance. Overseas territories and crown dependencies have come under increasing pressure to reveal who is behind anonymously owned companies, with campaign groups saying such secrecy aids… Read More