All posts tagged "Tax evasion"
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252ChinaChina Relaxes Restrictions on Cross-Border RMB Business
Domestic banks can open personal RMB accounts for Hong Kong and Macau residents, which can be used to receive up CNY 80,000 daily from same name accounts.
January 6, 2021 -
182AML / KYCAustralia Throws Out Bill to Criminalise Cash Payments Over A$10,000
The bill would have imposed a fine of up to A$25,500 and two years’ jail for cash payments exceeding A$10,000. The bill is now "officially dead", according to one senator.
December 6, 2020 -
1.4KAML / KYCAUSTRAC Wants Lawyers, Accountants Under its AML Remit
AUSTRAC chief Nicole Rose expressed concerns that professional facilitators are being used to evade money laundering detection.
October 23, 2020 -
3.7KAML / KYCGlobal Tax Evasion Probe Targets Euro Capital Bank, Puerto Rico
Euro Pacific Bank, founded in 2017 by Peter Schiff and Mark Anderson, is said to be used by up to 400 Australian nationals, about 100 of which are considered “high-risk”.
October 18, 2020 -
1.6KAML / KYCFATF Details Virtual Asset Red Flags for Detecting Criminal Activity
This report will help VASPs, FIs, DNFBPs, and other reporting entities detect and report suspicious transactions, and national authorities detect criminal activity.
September 15, 2020 -
2.2KAML / KYCAPAC Regulators Issue Nearly $4bn in AML Fines in H1 2020
Fraudulent activity brought on by Covid-19 related initiatives may result in enforcement actions later in the year and into 2021, says Fenergo's Rachel Woolley.
August 20, 2020 -
664AML / KYCNew Zealand FIU Boasts ‘Excellent Outcomes’ in June
June saw the restraint of NZ$140mn from alleged money launderer Alexander Vinnik and the seizure of over 30 high-end cars from outlaw motorcycle gangs.
August 12, 2020 -
1.1KAML / KYCAustralian Police Bust Tax Fraud Syndicate in ‘Coordinated Strike’
The syndicate's ringleader is alleged to have enlisted financial industry experts and former bankers to operate and facilitate the A$17mn tax fraud.
July 24, 2020 -
1.2KAML / KYCS. Korea Uses AI, Big Data Analytics to Detect Tax Evasion
A new AI-based big data analytics system will be used by the National Tax Service to detect cases of tax evasion using borrowed-name accounts.
July 7, 2020 -
590AML / 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
