7th December 2016
Financial services providers must start adapting and expanding compliance procedures to deal with the new UK failure to prevent the facilitation of tax evasion offence that is set to come into force next year, says Ogier's Head of Regulatory Services. Read More
4th November 2016
The Enforcement Directorate (ED) is probing a Rs 300-crore money-laundering racket involving a former chief minister and an NRI builder, who is developing a luxury residential project in central Mumbai. Sources told TOI that the politician is believed to have diverted Rs 300 crore from accounts maintained in tax havens… Read More
3rd November 2016
The Pensions Regulator has begun enforcement action against a number of parties including Sir Philip Green after failing to reach a deal to plug BHS’s £571m pension deficit. In a dramatic development, the regulator, which has been in talks with Sir Philip and his Taveta group of companies over the retailer’s… Read More
1st November 2016
An Isle of Man company has been named in a damning investigation by United States authorities into money laundering. Read More
1st November 2016
The Supreme Court on Tuesday asked both the Pakistan Muslim League and Pakistan Tehreek-i-Insaf to submit their Terms of Reference (ToRs) on the formation of a commission to probe the Panama Papers leaks. The top court made this decision before adjourning the hearing of the Panamagate case that… Read More
31st October 2016
Concerns raised over business relationships and finances of Sudhir Choudhrie and his son Bhanu, from one of India’s most high-profile families. 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
26th October 2016
New Zealand has edged out Singapore to take top spot for ease of doing business in the World Bank’s latest rankings, but money laundering experts warned the honour masked the darker side of the Pacific nation’s vulnerability as a channel for illegal funds. In its annual “Doing Business” report released… Read More
24th October 2016
Three Kent men including accountant Aquil Ahmed have been jailed after a two-and-a-half year payroll fraud that saw them steal £6.9m of UK taxes Ahmed, 60, conspired with construction services director Victor Shearer, 43, and payroll administrator Christopher Azzopardi, 37, to take VAT, Income Tax, National Insurance Contributions and Construction… Read More
20th October 2016
A court in the United States ruled on Monday to disqualify lawyers representing a firm connected to the Magnitsky fraud case, after they had switched sides to defend a company accused of money laundering. The ruling by the US Court of Appeals for the Second Circuit instructed a court in… Read More