January 2017

ISLAMABAD – The Supreme Court of Pakistan adjourned hearing a slew of petitions seeking a probe into Panama papers till Tuesday. The five-member larger bench discussed the alleged money laundering by Sharif family and Ishaq Dar in the purview of latter’s confessional statement. National Accountability Bureau (NAB) submitted details regarding the confessional statements of Ishaq Dar […]

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<!– Deutsche Bank has agreed to pay a $625 million fine stemming from a scheme that U.S. and British regulators said helped Russian clients illegally transfer $10 billion out of the country from 2011 to 2015. The bank agreed with the authorities’ assessment that it facilitated capital flight for its Russian customers, helping them evade […]

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Greens MEP and member on the Pana Committee Sven Giegold (above) has questioned why anyone would open a company in Panama for legitimate reasons. He was asked by The Malta Independent, in Brussels, whether the Pana committee plans to consider possible enforcement against intermediaries or recommending further EU legislation for intermediaries with relation to financial services […]

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Pakistani Prime Minister Nawaz Sharif (File Photo) Since January 4, a five-member Bench headed by the second seniormost judge of the Supreme Court of Pakistan has been hearing for three hours every day petitions alleging corruption by Prime Minister Nawaz Sharif, filed by the chairman of the Pakistan Tehreek-e-Insaaf (PTI) Imran Khan, and the head […]

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By William Shaw Law360, London (January 30, 2017, 8:30 PM GMT) — A major European Parliament committee will next month investigate the role played by lawyers, accountants and bankers in the tax evasion networks revealed in last year’s Panama Papers leaks, the European Union legislative body said Monday. The Committee of Inquiry into Money Laundering, […]

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By Murray Griffin A meeting of 30 tax administrators to share information on the Panama Papers tax evasion scandal shows taxpayers can no longer expect to keep their tax planning secret, according to a former delegate to the alliance of tax agencies. Commenting Jan. 24 on a Paris meeting of the Joint International Taskforce on […]

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By William Shaw Law360, London (January 30, 2017, 8:30 PM GMT) — A major European Parliament committee will next month investigate the role played by lawyers, accountants and bankers in the tax evasion networks revealed in last year’s Panama Papers leaks, the European Union legislative body said Monday. The Committee of Inquiry into Money Laundering, […]

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The Isle of Man is a well-known tax haven (otherwise known as an “international financial center”), with its financial services sector (banking, insurance, other finance and business services, legal and accounting services, and corporate services) accounting for 37.8 percent of its gross domestic product. However, the latest report from the Council of Europe’s expert committee on money laundering and the financing of terrorism (MONEYVAL) […]

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ISLAMABAD – The Supreme Court of Pakistan adjourned hearing a slew of petitions seeking a probe into Panama papers till Tuesday. The five-member larger bench discussed the alleged money laundering by Sharif family and Ishaq Dar in the purview of latter’s confessional statement. National Accountability Bureau (NAB) submitted details regarding the confessional statements of Ishaq Dar […]

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The State’s anti-money laundering agency, which conducted an investigation related to the Panama Papers, is still without a head after the departure of Manfred Galdes nearly eight months ago. While Finance Minister Edward Scicluna has stated that the new director of the Financial Intelligence Analysis Unit (FIAU) has been selected, his or her identity is […]

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ISLAMABAD – The Supreme Court of Pakistan resumed hearing a slew of petitions seeking a probe into Panama papers here on Monday. The five-member larger bench is expected to discuss the alleged money laundering by Sharif family and Ishaq Dar in the purview of latter’s confessional statement. National Accountability Bureau (NAB) submitted details regarding the confessional statements […]

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Finance Minister Edward Scicluna snubbed an invitation to appear before a Panama Papers inquiry committee meeting held in Brussels yesterday. Speaking during the committee meeting, Greens MEP Sven Giegold lamented that the European Council had effectively made an agreement not to cooperate with the committee. Mr Giegold, a fierce critic of Malta’s tax regime, theorised […]

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Armenia’s Special Investigative Service (SIS) said Wednesday it stopped investigating the offshore accounts of former Major General of Justice Mihran Poghosyan after Swiss and Panamanian authorities refused to help the probe into Panama Papers revelations.   Mihran Poghosyan was Armenia’s Chief Compulsory Enforcement Officer until he resigned following the release of the Panama Papers (Photo: […]

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