14th March 2019
The European Union has published its updated list of non-cooperative jurisdictions for tax purposes, dubbed the tax haven blacklist, adding ten jurisdictions to the existing five states. The new additions include Bermuda and the UAE. “Those jurisdictions did not implement the commitments they had made to the EU by… Read More
14th March 2019
After suddenly withdrawing an announcement in December that it would suspend ‘golden’ visas, the United Kingdom has now announced a change to the application process for the immigration rules which have been strongly criticised for being a gateway for money launderers to settle in the country. Under the changes announced… Read More
14th March 2019
In recent years the European Union has looked to flex its legislative muscle and come up with an array of laws aimed at cracking down on money laundering and terrorism financing. Key to its package are its various directives, which impact national laws, banking operations and other industries across the… Read More
13th March 2019
European lawmakers and member states have agreed on a new set of rules which will guarantee whistleblowers protection against demotion and dismissal when they report money laundering, tax fraud and other financial crimes. Under the provisional regulations setting EU-wide standards of protection, whistleblowers will be protected in judicial proceedings. Read More
13th March 2019
Britain’s Serious Fraud Office (SFO) failed to take “reasonable and appropriate” steps to get key documents from Qatar’s U.S. lawyers before a fraud trial of four former Barclays executives, a London criminal court heard on Thursday. The jury was told that Judge Robert Jay had ruled in January on the… Read More
13th March 2019
A Philippine bank has filed a lawsuit accusing Bangladesh’s central bank of defamation, hitting back at what it says are baseless claims of its complicity in the world’s biggest cyber heist. In February 2016, criminals used fraudulent orders on the SWIFT payments system to steal $81 million from the Bangladesh… Read More
13th March 2019
AP — With just 17 days to go, Britain’s departure from the European Union was thrown into chaos and doubt Tuesday as Parliament delivered a crushing double blow to Prime Minister Theresa May’s Brexit divorce deal and to her authority as leader. Lawmakers rejected the deal… Read More
13th March 2019
AP — Tesla CEO Elon Musk should not be found in contempt of court because he has complied with the terms of a securities fraud settlement, his attorneys wrote in documents filed Monday night with the U.S. District Court in Manhattan. Musk’s lawyers wrote that a Feb. 19 tweet merely… Read More
13th March 2019
The European Central Bank will take over the supervision of Latvia’s PNB Banka, a small lender that has accused the country’s central bank governor and financial regulator of running a racket after being itself fined over money laundering. The decision followed a request by the Latvian financial watchdog, which said… Read More
13th March 2019
A London-based compliance officer looks back at some of the requests he came across and tells KYC360 how he reacted on the occasions he smelt trouble. He did not wish to disclose his name and details. Being a compliance officer has some highs and lows, and some colourful moments too. Read More