All posts tagged "AEOI"
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602AML / KYCUS Lawmakers Call for ‘War-like Footing’ Against Corruption
In a letter to Janet Yellen, two lawmakers have called for AML obligations to be expanded to hedge funds, private equity, and other professional enablers.
May 6, 2021 -
545AML / KYCUS Imposes Sanctions on 27 Iranian Entities, Individuals
Any foreign FI that knowingly facilitates a significant transaction for the designated individuals or entities could be subject to US sanctions.
September 22, 2020 -
701AML / KYCAutomatic Exchange Uncovers €10tr in Offshore Accounts in 2019
The automatic exchange of information by tax authorities in nearly 100 countries uncovered data on 84 million accounts held offshore in 2019.
July 2, 2020 -
908AML / KYC
OECD Hails Global Anti-Tax Evasion Efforts as ‘Unprecedented Success’
Last year saw nearly 90 jurisdictions automatically exchange information on 47 million financial accounts, covering total assets of $4.9tn.
December 2, 2019 -
858AML / KYCPhilippines Makes Push to End Bank Secrecy
BSP governor Benjamin Diokno has said the central bank wants to help convince lawmakers of the importance of lifting bank secrecy as part of a bill to grant amnesty to errant taxpayers.
October 15, 2019 -
1.2KAML / KYC
Automatic Exchange of Information is Working, Says OECD
New data from the OECD indicates that Hong Kong and Singapore are adhering to tighter global standards on tax transparency.
June 13, 2019 -
756AML / KYCHong Kong FIs Share Foreign Tax Resident Data with IRD – Report
Over 1,700 financial institutions have shared customer account balances and income details with the tax authority, as required by AEOI.
September 12, 2018 -
951AML / KYCTax Law Forces New Zealand Banks to Freeze Accounts
Banks required to find out whether customers are foreign tax residents and report to Inland Revenue; unresponsive customers are having their accounts put on hold.
July 4, 2018 -
556AML / KYC
Foreign Tax Status Disclosures Required by New Zealand Banks
Banks required to report customers' foreign tax status by 30 June; customers that do not respond may have their accounts frozen or closed.
June 7, 2018 -
659AML / KYCMAS Fines StanChart Units $4.9mn for AML/CTF Breaches
The bank’s Singapore branch and trust unit failed to adequately assess and mitigate risks that clients were trying to avoid CRS reporting obligations.
March 20, 2018
