As we approach the anniversary of the Financial Conduct Authority’s first published set of aggregated results, it’s a good time to review what that means for risk managers across the UK and Europe.… Continue Reading
U.S. prosecutors charged four men with tax evasion and fraud in schemes first revealed by the Panama Papers leaked from law firm Mossack Fonseca.
An indictment unsealed this week in the Southern District of New York charged the four with conspiracy to commit tax evasion, wire fraud, and money-laundering conspiracy.… Continue Reading
During the first calendar quarter of 2018, there was a dramatic increase in enforcement actions globally involving allegations of bribery against heads of state. What’s behind the increase?
A report from TRACE International last month showed that 30 countries conducted 266 bribery investigations of foreign officials, while 82 countries conducted 218 bribery investigations of domestic officials.… Continue Reading
In mid-December EU lawmakers adopted amendments to the region’s 4th AML Directive that will bring more transparency and enforcement to the corporate world.
The intention is noble: to crack down on money-laundering, tax evasion, and other corporate corruption, as put on display by release of the Panama Papers in 2016.… Continue Reading
I have decided to don my tin hat and stick my head above the parapets again. Why? Because for once common sense has prevailed and the anti-1% brigade have lost their argument for an open Public Register of Ultimate Beneficial Owners (UBOs) in the British Virgin Islands (BVI) and her sister islands in the Caribbean.… Continue Reading
An investigative journalist whose stories tied top politicians in Malta to allegations of corruption uncovered by the Panama Papers died in a car bomb Monday afternoon.
Daphne Caruana Galizia, 53, was killed when her car exploded while she was driving near her home in Bidnija.… 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.
It comes as no surprise that the authorities appear to have caught up with Mossack Fonseca’s founders, Jürgen Mossack and Ramon Fonseca, in Panama City and the firm’s offices raided.… 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