All posts tagged "Tax evasion"
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1.2KAML / 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 -
1.9KAML / 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 -
427AML / 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 -
991AML / 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 -
1.1KAML / 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 -
528AML / 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 -
297AML / KYCPBOC to Regulate Large Cash Transactions in 2yr Pilot Programme
Hebei, Zhejiang and Shenzhen will participate in a two-year pilot programme where large cash transactions beyond a fixed threshold will have to be registered.
June 15, 2020 -
648Big 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 -
573AML / 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 -
728AML / 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
