Category: Suspicious Activity Reports
The FinCEN Files: What the leak means for bankers
Light upon the recent leak "The FinCEN Files". ... - Continue reading
United States: GAO Recaps “Priority Open Recommendations” For The FRB
This article throws light upon the recommendations of the Government Accountability Office(GAO) about its banking system. ... - Continue reading
United States: FinCEN Director Addresses Gaming Industry
On August 13, Financial Crimes Enforcement Network ("FinCEN") Director Kenneth Blanco addressed the 12thAnnual Las Vegas Anti-Money Laundering Conference and provided insights on his agency's expectations for the ever-evolving gaming industry. ... - Continue reading
Panama Papers: Notices sent to 400 people under Black Money Act
Two years after the Panama Papers brought to fore alleged hidden offshore accounts of the world’s wealthy, the income-tax department has issued notices to many in India for not disclosing all their foreign assets as well as interest and income earned through such assets. Notices were issued following an investigation… – Continue reading
NBI probe in Turku targets real estate firm, nabs third suspect
A large-scale police operation into money laundering appears to have targeted the Airiston Helmi real estate firm, led by a Russian man with Maltese citizenship. An exceptionally large police operation took place in southwest Finland this weekend, in what the National Bureau of Investigation (NBI) said was an extensive search… – Continue reading
Expose the true beneficiaries
THE Panama Papers, the world’s biggest leak, highlighted the complex ways used by companies and individuals to conceal who the actual beneficiaries of a company are. Some of them put their money into offshore accounts such as in Labuan, which is also an off-shore financial centre and tax haven. One… – Continue reading
Three critical ways an offshore bank can protect you
Let’s take a moment to compare the world today to before the Global Financial Crisis struck roughly eight years ago. In this short period of time, US federal government debt has DOUBLED. The Federal Reserve now holds $2.4 trillion of that debt, up from $479 billion. Interest rates, which were… – Continue reading
