After an increase in the exchange of banking information throughout 2019, nearly 100 cooperating countries have found US$11.3 trillion kept by their residents in 84 million offshore accounts, the Organization for Economic Cooperation and Development (OECD) said on Tuesday.
The U.S. Chamber of Commerce wrote a letter of support on Monday for the ILLICIT Cash Act– a key piece of legislation that experts and lawmakers say would help reform the country’s opaque financial system that remains vulnerable to illicit activity such as money laundering, tax evasion, and fraud.
A report released on Monday by the U.S. Treasury Inspector General for Tax Administration shows that hundreds of thousands of the country’s highest earners have not been paying taxes.
Because of his failure to pay taxes, the Damascus Securities Exchange ordered on Wednesday the seizure of shares owned by Rami Makhlouf, the cousin of Syria’s president and one of the country’s richest tycoons, in 12 foreign banks with local branches.
A Syrian tycoon accused of enriching himself at the expense of Syrian people appealed on Sunday to his maternal cousin, President Bashar al-Assad, to stop authorities from insisting that he pay millions of dollars in taxes and arresting managers at his companies in “an inhuman” way.
Israel’s largest bank agreed to pay nearly a billion dollars after pleading guilty on Thursday for conspiring with US taxpayers to hide their money offshore, and for participating in FIFA’s international bribery conspiracy.
Poland's anti-graft agency dismantled an organized crime group suspected of money laundering, tax evasion and tax fraud, the country’sCentral Anti-Corruption Bureau (CBA) said on Wednesday.
The Internal Revenue Service (IRS) said that whistleblowers leaking information on tax evaders yielded over US$616 million in lost revenue to the US Treasury office this past fiscal year.
Deutsche Bank has flagged suspicious financial transactions in accounts belonging to Jeffrey Epstein, the multi-millionaire who was arrested for sex trafficking in New York earlier this month, the New York Times reports.
The United Kingdom generated an additional US$42 billion over the past fiscal year by cracking down on corruption and tax evasion, the country’s tax authority announced last week.
Only in 2014 Canadian companies avoided paying up to C$11.4 billion (US$8.53 billion) in taxes, the Canadian Revenue Agency (CRA) revealed in its latest audit report that was published on Tuesday.
The UK’s National Crime Agency seized property related to the home of an alleged senior member of a Northern Irish paramilitary group, the agency said Friday.
Israeli police on Tuesday recommended charges be brought against the interior minister, who has been under investigation since 2016 over suspicions of bribery, fraud and breach of trust, tax offences, and money laundering.
Tax authorities in Armenia have launched criminal proceedings against the country’s national gas distribution company, which is owned by Russia’s Gazprom, accusing the Armenian operator of evading millions of dollars in taxes, Radio Free Europe/Radio Liberty reported last week.
A French judge has put Russian businessman and lawmaker Suleiman Kerimov under formal investigation after police arrested him this week at Nice airport for alleged tax evasion, media reported Thursday.
Slovenian investigative journalism site podcrto.si published on Thursday police reports detailing charges against the longstanding mayor of the country’s capital for alleged crimes including tax evasion, trading sex for influence, and money laundering.
Nearly four years after she was put under house arrest, Uzbekistan authorities explained on Friday for the first time what the daughter of late President Islam Karimov has been convicted of and announced additional charges.
A suspended UN diplomat has testified in a US court that a Chinese billionaire paid him up to US$ 50,000 monthly in return for help securing a contract to build a UN conference center, media reported Friday.
Three members of Nepal’s Tax Settlement Commission were charged with embezzlement Sunday in the largest corruption case filed to date by the country’s anti-graft agency.
A Kazakh tycoon who was sentenced to 21 years in prison for attempting a coup faced the judge again on Wednesday, this time for tax evasion, accounting fraud, and bribery, Tengrinews reported.
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