France
5th March 2021
Just over two years ago, UBS Group AG got a nasty shock when a Paris judge handed it a record $5.4 billion penalty for helping French clients avoid taxes. As the Swiss bank returns to the French capital on Monday for a three-week long appeal, its team of lawyers… Read More
4th March 2021
ING Group’s unit in France will pay €3 million to address anti-money laundering (AML) and counterterrorism financing compliance shortcomings identified by the country’s prudential regulator. The banking group, which acknowledged the fine in a statement Tuesday, said the enforcement action stemmed from a 2018 inspection by the Autorité de Contrôle… Read More
3rd March 2021
AP — A Paris court found French former President Nicolas Sarkozy guilty of corruption and influence peddling on Monday and sentenced him to a year in prison. He can ask to serve that time at home and also plans to appeal. The 66-year-old, who was president… Read More
26th February 2021
Luxembourg has dismissed accusations of rampant tax avoidance and insisted that the country respects “all the applicable European and international rules and standards in terms of tax transparency , the fight against tax abuses and the fight against money laundering and the financing of terrorism”. The duchy is reeling from relevations made public in an exercise dubbed as Openlux, a collaboration… Read More
23rd February 2021
With its plenary beginning on Monday (today), Pakistan may remain in the grey list of the Financial Action Task Force (FATF) though the authorities assert that the country qualifies to be moved out on merit. Background discussions with key officials and foreign diplomats suggest that the jury is divided —… Read More
17th February 2021
BNP Paribas will have to defend itself against a U.S. lawsuit claiming the bank facilitated human rights abuses in the Sudan, after a New York federal judge rejected parts of its request to dismiss the case. The suit claims BNP’s decision to continue serving as Sudan’s banker in the… Read More
11th February 2021
By Olesya Shmagun, OCCRP, 10 February 2021 OCCRP — A 33-year-old Russian man who runs no known profitable businesses secretly owns European real estate and other assets worth at least 50 million euros, corporate records from Luxembourg show. Sergey Toni’s properties, which he holds through seven… Read More
5th February 2021
U.S. prosecutors and Internal Revenue Service agents spent four years piercing the veil of secrecy that billionaire money manager Robert F. Smith wove to hide more than $200 million in income. Last year, according to people familiar with the matter, a team led by the Justice Department’s top tax prosecutor… Read More
4th February 2021
Europol has warned EU authorities to be on the watch for organised crime gangs selling fake Covid-negative test certificates at airports, sometimes for as much as 300 euros each. Monday’s warning issued by the EU law enforcement agency comes after police arrested several suspects selling forged certificates declaring people had… Read More
7th January 2021
France’s highest court has ordered a retrial of members of the art-dealing Wildenstein family who were acquitted of tax fraud in 2018. Guy Wildenstein, a close friend of former president Nicolas Sarkozy, and other family members, known in France as “les W”, were cleared of hiding an estimated €550m… Read More