All posts tagged "Tax evasion"
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549Big PicturePrivacy Concerns, Bank Mistrust Lead to Higher Cash Use: Study
The findings suggest that government policy to promote electronic payments may have to address fundamental concerns about privacy and confidence in financial institutions.
April 29, 2020 -
519AML / KYCTrade Misinvoicing a ‘Persistent Problem’ in Developing Countries
Think tank Global Financial Integrity found $8.7tr in misinvoiced trade in the ten years from 2008 to 2017. Trade misinvoicing is one of the largest components of global illicit financial flows.
March 5, 2020 -
647AML / KYCAustralia: Senate Committee Backs A$10,000 Cash Ban
A Senate committee tasked with reviewing a bill to criminalise cash transactions over A$10,000 has reportedly thrown its support behind the proposed legislation.
March 2, 2020 -
438AML / KYCJapan Identifies 1.9m Undeclared Offshore Accounts Through CRS
Of the 1.89 million offshore accounts identified through information exchanges under the Common Reporting Standard, 80% were located in Asia and Oceania.
December 18, 2019 -
276AML / KYCHSBC Switzerland to Pay $192mn to Settle US Tax Evasion Probe
HSBC Switzerland has admitted to conspiring with US taxpayers to evade taxes and helping them to hide more than $1bn in assets from tax authorities.
December 12, 2019 -
637AML / KYCOECD 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 -
351AML / KYCMizuho Ordered to Pay Caymans-related Back Taxes and Penalty
The bank is disputing the penalty, saying its Caymans subsidiaries were created for as a special vehicle for fundraising, and not to conceal profits or evade taxes.
November 28, 2019 -
658AML / KYCAUSTRAC: Mutual Banks Face High Money Laundering Risk
Mutual banks are vulnerable to money laundering due to their high exposure to cash transactions, non-face-to-face service delivery, and outsourcing of AML compliance processes.
October 31, 2019 -
620AML / 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 -
657AML / KYCMalaysia Passes Bill to Form New Anti-Financial Crime Body
Expected to launch in January, the National Anti-Financial Crime Centre (NAFCC) will coordinate the efforts of 12 enforcement agencies to tackle financial crime.
October 13, 2019
