03/15/2021
Reliable Regulatory Compliance: AML and CTF
Investment in compliance, and particularly in AML/CTF programs, will be a significant competitive differentiator for VASPs.
Legal,Regulation,Tax & Compliance
03/15/2021
Whistle-Blower Says Credit Suisse Helped Clients Skip Taxes After Promising to Stop
A former bank employee contends that the Swiss bank continued to help American clients avoid taxes long after its 2014 plea deal with the U.S. government
03/15/2021
Millionaire beggar arrested; she owns luxury car, flat: Morocco Police
The woman would park her luxury car out of sight before begging for money.
03/15/2021
Hong Kong Cross-Border Wealth Scheme Delayed by Pandemic
Hong Kong Banks Ready for Greater Bay Area Dive
03/15/2021
FCA imposes ban on DFM after section 166 probe
The regulator has come down hard on Dolfin following a two-year probe into its financial crime controls.
03/12/2021
Zurich’s Oldest Private Bank Admits To Helping U.S. Taxpayers Hide Offshore Accounts From IRS
Rahn+Bodmer Enters into Deferred Prosecution Agreement for Criminal Misconduct; Agrees to Pay $22 Million
03/12/2021
FinCEN Warns Art and Antiquities Traders of New AML Measures
The new rules come just months after a congressional bill gave the Treasury Department a year to come up with regulations to help mitigate the threat of money laundering, crime and terror financing in the antiquities trade.
03/11/2021
Tax haven ranking shows countries setting global tax rules do most to help firms bend them
The 2021 edition of the Tax Justice Network’s biennial Corporate Tax Haven Index sees OECD countries or their dependencies take up the top six spots on the ranking of the world’s greatest enablers of corporate tax abuse.
03/11/2021
Travel Restrictions Holding Up Wealth Management Connect
The Wealth Management Connect will allow residents of Hong Kong, Macao and major Guangdong cities to invest across borders, subject to an individual quota of CNY 1 million.
03/11/2021
Swiss Parliament agrees modest tightening of anti-money laundering law
Swiss lawmakers have agreed to revise the money laundering law but have rejected new rules for lawyers, notaries and other consultants.
03/11/2021
Taking control: How to get on top of non-financial risks
From the growing focus on ESG to the heightened operational risks and cyber vulnerabilities for people working from home, 2020 has also highlighted the knock-on impact of one NFR to another.
03/11/2021
Credit Suisse tax whistle-blowers urge US to punish bank
A spokesperson for the bank declined to comment. The Justice Department and IRS didn't immediately respond to a request for comment.
03/10/2021
UK Art Dealers Are Exploiting a Loophole to Avoid New Money-Laundering Regulations. Compliance Experts Say It Will Backfire
Art businesses should not be fooled into thinking they can use "reliance" as a loophole, experts say.
03/10/2021
Growing reach: Eversheds Sutherland Switzerland opens an office in Zug
We believe in the potential of many innovative companies in the Crypto Valley and are excited to link them to other jurisdictions within our global network.
03/10/2021
The world's largest law firm announces combination with elite Ecuadorian law firm
Dentons' combination with Paz Horowitz Abogados in Ecuador would further strengthen Dentons’ position as the only pan-Latin American law firm, with locations across 26 countries.
03/10/2021
London's wealthy are bolstering the stamp duty bill
Such properties, according to these estate agents, are therefore in high demand and currently tend to come with a much higher price tag of £1m and above.
03/09/2021
‘I’m Innocent,’ UBS Bankers Say as $5 Billion Appeal Starts
‘I’m Innocent,’ UBS Bankers Say as $5 Billion Appeal Starts
03/09/2021
New York Senate proposes new tax on auction sale of art
The tax would be imposed on the purchaser and collected by the auctioneer in addition to state and local sales tax.
03/09/2021
UBS French tax evasion appeal: what's at stake
A main pillar of the bank’s defence is that it was complying with the tax regulations of the day – the European Union Savings Directive, which did not compel banks to hand over client data to other countries.
03/09/2021
The Bahamas Removed from the French List of Non-Cooperative States and Territories in Tax Matters.
The French Government has imposed a number of sanctions on blacklisted countries, including applying withholding taxes at a higher rate on financial transactions involving blacklisted countries.