6th July 2016
Measures to identify real ownership of companies and a law clamping down on offshore avoidance in the pipeline Read More
5th July 2016
UBS said on Tuesday that it had been ordered by the Swiss Federal Tax Administration to share account information regarding current and former clients with the tax authorities in France. It is the latest development in a continuing effort by the tax… Read More
4th July 2016
Private investigators have reported that two of the “Cayman Gang of Four”, Derek Buntain and Sharon Lexa Lamb, the fired president, and senior vice president respectively of closed Dundee Merchant Bank, used their shell company, Winterborne Management Ltd (WML) to steal and move tens of millions of dollars into a… Read More
29th June 2016
Jersey’s financial services regulator, the Jersey Financial Services Commission, has warned the public to be wary of unregulated investment opportunities. The Commission said: “In the current prolonged low-interest rate environment, consumers with money to invest can be tempted by products which appear to offer a high rate of return …… Read More
28th June 2016
French finance prosecutors have asked for Swiss bank UBS to face trial for allegedly orchestrating a vast system of tax fraud in France, a legal source said on Monday. The prosecution requested that UBS face trial for “aggravated laundering of tax fraud proceeds” while its French branch be judged… Read More
28th June 2016
The Government won't speed up anti-money laundering laws – because of the cost to lawyers and real estate agents. Read More
27th June 2016
Australian market regulator Australian Securities & Investments Commission (ASIC) said it has commenced proceedings against Macquarie Investment Management Ltd (MIML) as the responsible entity of the van Eyk Blueprint International Shares Fund (VBI Fund). The proceedings involve investments of $30m made by the VBI Fund in 2012 into a Cayman… Read More
27th June 2016
New Zealand's foreign trust rules are inadequate and must change, a Government-ordered inquiry has found. Read More
23rd June 2016
Swiss bank BSI is appealing a decision by Swiss financial watchdog FINMA that BSI breached money laundering rules through its business relationships and transactions linked to a scandal-hit Malaysian government fund. FINMA last month ordered BSI to hand over profits amounting to 95 million Swiss francs ($99.4 million) and to… Read More
22nd June 2016
The Credit Suisse Group AG wealth manager at the heart of a trading scandal told prosecutors in interviews that he took clients’ money and moved it into personal accounts in Monaco and Dubai, according to four people with knowledge of the investigation. The banker, who can only be identified as… Read More