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 Crypto firms on Friday were notifying customers that their cards were no longer valid with immediate effect.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
20th December 2017
Isle of Man Today The government is planning to pass a law to bolster the fight against money laundering. Feedback is now being sought on the Anti-Money Laundering and Other Financial Crime (Miscellaneous Amendments) Bill 2017, which the government says is aimed to strengthen the Isle of Man’s reputation as… Read More
19th December 2017
BBC Law firm Appleby is taking legal action against the BBC and the Guardian over their reporting of leaked documents detailing offshore tax-avoidance schemes, known as the Paradise Papers. It is suing for breach of confidence and wants the documents disclosed. Appleby said confidential information had been taken in a… Read More
18th December 2017
Dawn Justice Faisal Arab, who was a member of the three-judge Supreme Court bench that exonerated the PTI chairman on Friday, observed in his additional note that Imran Khan did not incorporate offshore company Niazi Services Limited (NSL) to park assets acquired through embezzlement, bribery or tax evasion to keep… Read More
15th December 2017
Gibraltar’s financial services watchdog will introduce the world’s first bespoke licence for “fintech” firms using blockchain distributed ledger technology from next month in a bid to attract start-ups to the British overseas territory as it prepares for Brexit. The move is the first of its kind and would formally recognise… Read More