Old guard Swiss banks tackle money laundering with blockchain
Many regtech projects are working out ways to automate the Know Your Customer and Anti-Money Laundering regulatory process.
Legal
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Jurisdictions under Increased Monitoring
The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions, but encourages its members to take into account the information presented below in their risk analysis.
OECD calls on countries to crack down on the professionals enabling tax and white collar crimes
White collar crimes like tax evasion, bribery and corruption are often hidden through complex legal structures and financial transactions facilitated by lawyers, notaries, accountants, financial institutions and other professional enablers.
British Property Tycoon Emerges as Investor in Alleged Art Scam
The dealer, Inigo Philbrick, is now facing U.S. fraud charges
MIFID Firms– What is the Central Bank of Ireland's Focus for-2021?
The CBI updated its COVID-19 FAQs to list factors investment firms should consider when looking to pay dividends and variable remuneration, given the impact COVID-19 has had on the markets and the economy in recent months.
Cayman Islands, Morocco Placed on Terror-Financing Watch List
The Financial Action Task Force has added four jurisdictions to its list of countries subject to increased monitoring
'What the Right Hand Gives, the Left Takes Away': SDLT Surcharge for Foreign Buyers of UK Property Set to Come into Force
The surcharge applies to the purchase of properties in England and Northern Ireland only (Scotland and Wales having their own equivalent SDLT charges)
Sanlam becomes latest MPS to scrap VAT
However, it notes that there are expected operational challenges in implementing the change across multiple platforms.
The taxation of cryptoassets
An individual will be subject to income tax on the profits made when disposing of cryptoassets, if they are classed as ‘trading’.
UBS: Through Thick and Thin With Ralph Hamers?
For UBS, the issue is not of Hamers himself, but whether UBS can withstand the distractions surrounding his leadership.
Guernsey’s fast track pre-authorisations expected to help boost captive formations in 2021
A captive can go ahead with changes to retentions, changes to reinsurance, to fronting arrangements, they can add new lines of business and they can do that without needing to provide any notification or await any approval from the Commission.
Heads of state launch historic UN plan to stamp out global tax abuse
The tax reform proposals were harshly criticised by leading economists