The recent revelations arising out of the publication of the Paradise Papers have been gleefully seized upon by anti-corruption and tax justice campaigners.
Last year 27 companies paid nearly $2.5 billion to resolve FCPA-related offenses. So far this year, 9 companies have paid more than $1.2 billion for FCPA-related settlements. Yet despite these staggering outcomes, existing tools deployed today by corporations are not capable of effectively mitigating FCPA risk.… Continue Reading
The Treasury Department’s Financial Crimes Enforcement Network added Honolulu Tuesday to a reporting program for real estate deals involving cash transactions.
FinCEN also extended reporting requirements for six other metropolitan areas under a data collection program that started in March 2016.… Continue Reading
This month is the one year anniversary of the Panama Papers, a leak of 11 million documents from the Mossack Fonseca law firm that showed how easy it is for corrupt public officials, money launderers, drug traffickers and other criminals to hide behind anonymous companies and access the global financial system.… Continue Reading
The United States champions itself as a nation policing the rest of the world, preventing money laundering, tax evasion and foreign corrupt practices. Yet there is hypocrisy afoot.
The Treasury Department’s Financial Crimes Enforcement Network renewed rules Thursday that force U.S. title insurance companies to identify the natural persons behind companies used to pay all cash for high-end residential real estate in some parts of the country.… Continue Reading
As a Canadian practicing law and operating out of the British Virgin Islands (BVI), any mention of Mossack Fonseca and Canada in the same breath is guaranteed to capture my attention.… Continue Reading
The report is drawn from Canada-specific case studies and original research into the luxury property sector in Vancouver.… Continue Reading
You arrive in a new city on a rainy day and check into your top floor hotel room, only to find the roof is leaking.
When the receptionist comes to check, he looks up and says, “I don’t see what the problem is, madam.… Continue Reading
A lack of information about the people who ultimately own or benefit from legal entities is one of the most pervasive challenges in increasing transparency and fighting against corruption. The U.S.… Continue Reading
The FCPA Blog will be in New York City on October 26 and I hope you’ll be there too.
Most of our senior and contributing editors will be speaking about topics I know you care about.… Continue Reading
A Gabonese national who was allegedly paid $3.5 million for facilitation services in Africa by hedge fund Och-Ziff was arrested this week as part of an FCPA investigation.