admin

robuart The reforms will require companies to put in place systems which guard against money laundering and to carry out due diligence on customers, including identity verification. Justice Minister Amy Adams said the reforms in the bill could disrupt up to $1.7 billion in fraud and drug crime over the next decade and may prevent […]

by

New Delhi: Prosecution action by the Income Tax Department in black money cases has shot up three times with the taxman filing over 570 such charge sheets across the country till January this year. The department, as per an official report accessed by news agency Press Trust of India, has also directed its field offices […]

by

Laura Glynn , Global Regulatory Affairs Manager, Fenergo In May 2016, the Financial Crimes Enforcement Network (FinCEN) issued its long-awaited beneficial ownership rule with respect to customer due diligence requirements. Initially proposed in 2014, it was finally published as part of a wider range of reforms intended to counter money laundering, corruption, terrorism financing and […]

by

There is no doubt that had the Panama Papers scandal surfaced in any other European country, it would have rocked the government and forced it to resign. One needs only watch what is happening in France, where the favourite Conservative candidate for the French Presidential election, François Fillon, is losing his bid because of the […]

by

Photo Credit: twitter.com/realDonaldTrump What Americans know about Donald Trump’s network of Russian/Former Soviet Union (FSU) connections keeps growing. A recent New Yorker report on Trump’s “worst deal,” in Azerbaijan scratches the surface. A late 2016 investigative report in The American Interest by James Henry details an array of Trump’s ties to an “extensive network of unsavory […]

by

Justice Minister Amy Adams says the law has struck a balance between compliance and costs for many professionals. Lawyers, conveyancers, accountants, real estate agents, and sports and racing betting are now subject to money laundering legislation after it was fast-tracked in the fallout from the Panama Papers last year. The second phase of the Anti-Money […]

by

The Board of Directors of the Financial Intelligence Analysis Unit has finally appointed a new Director to replace Manfred Galdes, who had resigned in August 2016. Kenneth Farrugia, a fellow member… read more at: http://www.maltatoday.com.mt/news/national/74397/fiau_gets_new_director__six_months_after_manfred_galdes_resignation

by

KARACHI: The Panama Papers — a huge leak of documents detailing the alleged secret offshore holdings of global elite — were released in April 2016. The leak made headlines all-over the world, but its impact was probably most keenly felt in Iceland. Just two days after the leak appeared, Iceland’s prime minister had to resign […]

by

Socialist MEP Ana Gomes, who is also vice chair on the PANA committee, told The Malta Independent that the Konrad Mizzi situation is not only embarrassing for Malta, but also for Europe, since he chairs the Energy Council. The European Parliament’s Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion, known as PANA, held a […]

by

The Enforcement Directorate (ED) has instituted formal investigations against 41 Indian nationals whose names cropped up in the Panama Papers leak for alleged undisclosed business interests in offshore companies. Notices have also been served on several entities to join the probe. In at least 20 cases, the Reserve Bank of India (RBI) has confirmed prima […]

by