19th February 2018
Jersey’s Royal Court has registered two new laws aimed at enabling the free movement of data between Jersey and the European Union. The Data Protection (Jersey) Law 2018 and Data Protection (Authority) Jersey Law 2018 come into effect in May 2018. The rules will also enable law enforcement agencies… Read More
13th February 2018
A quarter of property in England and Wales owned by overseas firms is held by entities registered in the British Virgin Islands, BBC analysis has found. The Caribbean archipelago is the official home of companies that own 23,000 properties – more than any other country. They are owned by 11,700… Read More
24th January 2018
When Ukrainian company Profit signed a $48.5 million deal with a British firm in 2014, it became part of what prosecutors in Ukraine say was a potentially criminal scheme that moved $1.7 billion from the country’s biggest lender to offshore accounts. With a loan it had raised from PrivatBank in… Read More
22nd January 2018
Four out of every five dollars of wealth generated in 2017 ended up in the pockets of the richest one percent, while the poorest half of humanity got nothing, a report published by Oxfam found on Monday. As global political and business leaders gather for this week’s World Economic Forum… Read More
18th January 2018
Theresa May will set out a timetable to break the secrecy surrounding the foreign ownership of British property worth billions after facing a House of Lords defeat at the hands of two Conservative peers. Lord Faulks, a former Tory justice minister, and Lord Hodgson have been calling on the… Read More
10th January 2018
An accountant, his wife and their financial adviser are due to stand trial for their alleged roles in laundering nearly $2.5m (£1.84m) from the Government of Bermuda. Jeffrey Bevan, 50, from Cwmbran, his wife Samantha Bevan, their friend, Joel Ismail, and financial adviser Paul Charity deny all the charges against… Read More
5th January 2018
More than £3 million in funds were frozen on the Island by law enforcement agencies between 2016-17, after suspicions of money-laundering. The figure has been revealed in the Financial Intelligence Unit’s annual report for that year, which will go before Tynwald this month. It comes after the body’s first… Read More
5th January 2018
It’s feared thousands of bitcoin and other cryptocurrency users have been left stranded after payment network firm Visa decided to terminate its relationship with cryptocurrency card issuer WaveCrest. Crypto firms on Friday were notifying customers that their cards were no longer valid with immediate effect. WaveCrest client Bitwala said… Read More
28th December 2017
More than $500 million has been recouped by tax authorities worldwide after the Panama Papers revelations, first published in April 2016. Spain alone collected $122 million after an investigation into the affairs of tax residents who had stockpiled money offshore. Among the countries represented in the Panama Papers data,… Read More
22nd December 2017
An offshore firm connected to the Paradise Papers has been ordered to pay almost €53m after a court ruled it had “manufactured” correspondence in a deliberate attempt to help a mother hide money from her estranged daughter. Appleby Mauritius, an offshore services firm owned by the law firm Appleby until… Read More