Search Results for: tax evasion
Greece will not default on bailout debts – PM Tsipras
January 28th, 2015
New Greek PM Alexis Tsipras says his country will not default on its debts. Addressing his first cabinet meeting since being elected on Sunday, the left-wing Syriza party leader said he would negotiate with creditors over the €240bn (£179bn; ...
The second stage in the washing cycle – Layering (Video)
January 26th, 2015
Layering Layering is the process of separating the proceeds of criminal activity from their origin through the use of many different techniques to layer the funds. These include using multiple banks and accounts, having professionals act as intermediaries and ...
The first stage in the washing cycle – Placement (video)
January 19th, 2015
Placement Placement is the first stage of the money laundering process. It is the process of placing, through deposits or other means, unlawful cash proceeds into traditional financial institutions. At this stage cash derived from criminal activity is infused ...
Cyprus Banks Move to Comply With FATCA
January 15th, 2015
Cyprus’ banks are exerting all efforts to comply with the Foreign Account Tax Compliance Act (FATCA) agreement signed between Cyprus and the USA, the Association of Cyprus Banks revealed yesterday. Cyprus and the US signed an agreement for the ...
Introduction to Money Laundering
January 7th, 2015
Definition of money laundering Money Laundering is the process by which criminals attempt to conceal the true origin and ownership of the proceeds of their criminal activities. If undertaken successfully, it allows them to maintain control over those proceeds ...
Decline and Fall of the Demagogues
December 19th, 2014
This article could have been entitled ‘The Bonfire of the Vanities’ (with apologies to the book’s author Tom Wolfe) as it too is all about ruthless ambition, political sleaze and rampant greed. However, as vanity in others is regarded ...
Ultimate owners of companies would have to be listed in central registers in EU countries
December 18th, 2014
The ultimate owners of companies would have to be listed in central registers in EU countries, accessible to people with a “legitimate interest”, such as investigative journalists and other concerned citizens, under a deal struck by Parliament and Council ...
Hong Kong, US Sign FATCA Agreement
November 14th, 2014
On November 13, Hong Kong and the United States signed an inter-governmental agreement (IGA), the substantive terms of which were agreed in May this year, and which will facilitate compliance with the US Foreign Account Tax Compliance Act (FATCA) ...
FATCA Letters Promise Disclosure To IRS, What To Do?
November 12th, 2014
If you have a bank account anywhere outside the U.S., chances are you will receive a letter saying that your bank must hand over the details of any American accounts, including yours. The letters vary with the country and ...
No Longer Business as Usual in China
November 10th, 2014
With heads of state and corporate chieftains in Beijing for a major economic summit meeting this week, China’s increasing economic nationalism is expected to be heavily debated. China is changing the rule book for business, forcing multinational companies to ...
