20th July 2020
A co-founder of Boohoo has been running a fast-fashion brand with two associates who were investigated over accusations of links to organised crime and money laundering. Jalal Kamani, 60, now runs the I Saw it First women’s wear website and has been connected to a factory in Leicester at… Read More
17th July 2020
UBS will no longer be informed or be able to contest customer data the Swiss tax authorities hand over to counterparties in France investigating alleged tax avoidance, a Swiss court said on Wednesday. Switzerland’s Federal Administrative Court upheld a decision to revoke UBS’s position as a party to the arrangements over… Read More
17th July 2020
Tax authorities have investigated 237 cases in connection with the 2016 Panama Papers leak and a further 96 over Swiss Leaks and have so far recouped more than €27.6 million, Finance Minister Edward Scicluna said on Wednesday. Scicluna said €14.2 million was recovered from 163 concluded cases following the Panama… Read More
16th July 2020
Damaging allegations over the financial arrangements of Spain’s former king Juan Carlos have placed the royal family under unprecedented scrutiny but are unlikely to result in current or futures monarchs losing their constitutional immunity, according to legal experts. Juan Carlos abdicated in favour of his son, Felipe, six years ago,… Read More
13th July 2020
By Adam Bychawski, openDemocracy, 10 July 2020 openDemocracy — MPs and anti-corruption campaigners have warned that the British government’s proposed ‘Magnitsky-style’ sanctions regime is not enough to tackle money laundering amid fears that Britain has become a ‘global hub for financial crime’. On Monday, the UK imposed sanctions against 49… Read More
13th July 2020
President Donald Trump’s refusal to release his tax returns has long fed a belief among his critics that they must contain politically damaging financial information or even evidence of criminal conduct. The U.S. Supreme Court on Thursday cleared the way for Manhattan District Attorney Cyrus Vance to get his hands… Read More
10th July 2020
The Kremlin has said it will impose retaliatory sanctions on the UK after Dominic Raab announced Magnitsky Act-style measures against individuals in Russia, Saudi Arabia, Myanmar and North Korea. Britain’s post-Brexit sanctions, which are designed to stop the laundering of “blood money”, targeted 20 Saudis and 25… Read More
10th July 2020
The Ministry of Home Affairs on Wednesday announced it has set up an inter-ministerial committee to probe into alleged violation of various legal provisions by Rajiv Gandhi Foundation, Rajiv Gandhi Charitable Trust and Indira Gandhi Memorial Trust. A Special Director of the Enforcement Directorate (ED) will head the committee. “MHA… Read More
7th July 2020
Zambia has torn up its tax treaty with Mauritius, the latest African nation to cancel an agreement with one of the world’s leading offshore havens. President Edgar Chagwa Lungu’s cabinet terminated the 2012 treaty and will soon start to negotiate a new deal, according to a statement obtained by… Read More
7th July 2020
The Enforcement Directorate has initiated the process of registering another money-laundering case against middleman Sanjay Bhandari and others. It is related to an alleged illegal consultancy agreement with Samsung Engineering Co. Limited (SECL) to help the company get a project worth ₹6,744.32 crore in Gujarat. Last month, in the same… Read More