Credit Suisse's Settlement Under Scrutiny
Credit Suisse settled tax fraud allegations with the U.S. Justice Department (DoJ) for $2.6 billion.
Legal
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Guernsey linked to thousands of UK property ownerships
THE legal ownership of thousands of properties in the UK has been linked to Guernsey by new research.
EU Move Marks Threat for Swiss Banks
This cross-border crackdown is central to streamlining global banks within the EU, and hands more heft to regulators.
Standard Chartered facing court case
Standard was hit by a further £900million fine in April 2019 for breaching the sanctions after a US investigation found it had been dealing with Iranian, Cuban and Sudanese individuals and entities.
EU formally adopts public CbC reporting
Subsidiaries or branches below the revenue threshold also will be required to publish their tax information if they are deemed to exist only to help the group avoid the new reporting requirements.
HKMA takes disciplinary actions against four banks
In addition, all four banks contravened the requirement of establishing and maintaining effective procedures for carrying out their duties in relation to ongoing CDD under the AMLO,
Global Forum members continue multilateral efforts to advance transparency agenda and fight tax evasion
Celebrating 10 years of Global Forum capacity-building activities, members will also reflect on ensuring transparency and exchange of information benefit developing jurisdictions and help them in their fight against tax evasion and other illicit financial
Finma sanctions two private banks for 'seriously violating supervisory law'
FINMA opened enforcement proceedings against Banca Zarattini in August 2019 to investigate information it had received regarding possible violations of money-laundering rules.
Linlaters – Launching new resources on financial crime risks in the art market
Regulators in Europe have already taken notice
A Guide to Anti-Money Laundering for Digital Banks
Increased time spent living and working at home during the pandemic spurred many late adopters to embrace digital banking practically overnight.
Pandora Papers reveal Emirati royal families’ role in secret money flows
From skyscrapers rising in the desert to free-trade zones hawking gold and diamonds, the UAE is open for business. Sometimes that business involves shadowy companies and international crimes.
Bermuda to provide a new framework to obtain permanent residency
The changes come into force effective 1 December 2021 and the Department of Immigration will begin to accept applications for Permanent Resident Certificates (PRC) pursuant to the new provisions as of 1 January 2022.