COPENHAGEN, March 14 Danish banks should significantly increase their focus on complying with rules to avoid money laundering and tax evasion, the Danish Financial Services Authority (FSA) said on Tuesday in a report in the wake of the so-called the Panama Papers. This was backed by the country’s business minister. “It’s unsatisfactory that a range […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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

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