Banking
6th September 2021
By Henry Pope, OCCRP, 4 September 2021 OCCRP — After having been criticized for being a tax haven, Luxembourg’s Ministry of Justice will put forward a draft bill aimed at allowing authorities to sanction those who use the country’s financial system for money laundering and tax evasion. The… Read More
6th September 2021
The United States has sanctioned four Iranian intelligence operatives behind a failed plot to kidnap a U.S. journalist and human rights activist, the U.S. Treasury Department said on Friday. The sanctions come after U.S. prosecutors in July charged the four with plotting to kidnap the New York-based journalist who was… Read More
6th September 2021
An Iranian tanker carrying fuel bound for Lebanon was at anchor in the Red Sea on Friday ahead of the final leg of a voyage to Syria, which is set to pose the biggest test yet to US sanctions imposed on two arch regional foes. The tanker is expected… Read More
6th September 2021
Police are warning people of a terrifying new form of highway robbery in which people are mugged in the street and forced to transfer money from their digital banking apps. Violent thieves send the money to “mule accounts”, often purchased from cash-strapped students, and then quickly exchange the proceeds into… Read More
6th September 2021
Central banks in Australia, Singapore, Malaysia and South Africa will conduct a cross border payments trial using different central bank digital currencies (CBDC) to assess if this allows transactions to be settled more cheaply and easily, the banks said on Thursday. Many governments and central banks around the world are… Read More
5th September 2021
The head of the IRS believes more rigorous disclosures from the nation’s banks could help fix a yawning tax gap and recoup billions in owed revenues. In a letter viewed by CNBC, IRS Commissioner Charles Rettig told Sen. Elizabeth Warren, D-Mass., that relying on banks to report… Read More
4th September 2021
The Biden administration has no plans to release billions in Afghan gold, investments and foreign currency reserves parked in the United States that it froze after the Taliban’s takeover, despite pressure from humanitarian groups and others who say the cost may be the collapse of Afghanistan’s economy. Much of the… Read More
3rd September 2021
JPMorgan Chase & Co. settled a longstanding French criminal investigation over allegations it helped clients commit tax fraud for 25 million euros ($29.6 million). The case relates to allegations of tax fraud seen to benefit former managers at investment firm Wendel, top financial prosecutor Jean-François Bohnert said at a… Read More
3rd September 2021
The United Kingdom has announced new Myanmar sanctions, saying it was targeting a key business associate of the military government for providing arms and financial support following a coup earlier this year. The UK’s foreign ministry said it would impose an asset freeze on conglomerate Htoo Group of Companies and… Read More
3rd September 2021
A British man has been charged in Singapore with involvement in alleged fraud by a company linked to the collapsed German payments firm Wirecard, according to police. James Henry O’Sullivan is accused of colluding with R Shanmugaratnam, a director of accounting firm Citadelle Corporate Services, to send a false document… Read More