News

26th February 2016

Belgium charges UBS with money laundering, tax fraud

A Belgian judge has charged Swiss bank UBS with money laundering and serious and organised tax fraud, Brussels prosecutors said in a statement on Friday. Read More

26th February 2016

Nigeria: FG determined to enforce FOI law

Abuja—The Federal Government said yesterday that it will muster the needed political will to enforce the Freedom of Information Act and other instruments to help in the fight against corruption in the country. Read More

26th February 2016

Russian central bank removes licences from 3 small banks

Russia's central bank on Friday removed the licences of three small banks, part of a long-running campaign to clean up the country's financial sector. Read More

26th February 2016

Switzerland: Coutts hit with £75m tax evasion penalties

Coutts has forked out £75 million to settle two separate tax evasion probes relating to its former Swiss private banking business. Read More

26th February 2016

Rwanda: Revenue Body Warns Consultants Against Encouraging Tax Evasion

The Rwanda Revenue Authority (RRA) has warned tax consultants who mislead or encourage clients to evade taxes, saying they will be apprehended and punished according to the law. Read More

26th February 2016

KenolKobil of Kenya to Clear Debt After Exiting Two Countries

KenolKobil Ltd., Kenya’s biggest fuel retailer by market value, will use proceeds from the sale of its Tanzanian and Congolese operations to reduce financing costs after exiting regions its managing director said were rife with tax evasion. Read More

25th February 2016

Police raid Brazil steelmaker Gerdau, issue CEO arrest warrant

Federal police said they raided the offices of Brazilian steelmaker Gerdau SA on Thursday and issued an arrest warrant for its chief executive on suspicion the company evaded hundreds of millions of dollars in taxes. Read More

25th February 2016

South Africa: Court to hear R76 million cash smuggling case

The two Mozambicans who allegedly tried to smuggle more than R76 million in cash into South Africa are expected to appear in the Barberton Magistrate’s Court in Mpumalanga on Thursday. Read More

25th February 2016

Australian bank exit from remittances sends money transfers underground

SYDNEY - The decision by Australia's major banks to quit the country's $35 billion a year remittance business is driving fund-transfers underground, a trend exposing the country as a weak link in the global fight against money laundering and financial crime. Read More

25th February 2016

Pakistan: NAB files reference against Dr Asim

KARACHI: National Accountability Bureau (NAB) has filed a corruption reference against former state minister for petroleum Dr Asim Hussain in the Accountability Court of Karachi. Read More