Tag #Money Laundering

Showing 121 to 132 of 169 results

elmundo.es

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Dec 27, 19:10

€17 Million Luxury Vehicle VAT Fraud Ring Dismantled

A €17 million VAT fraud in the intra-community trade of luxury vehicles from Germany has been uncovered in Spain, leading to 30 arrests and the seizure of €11 million in assets.

€17 Million Luxury Vehicle VAT Fraud Ring Dismantled

A €17 million VAT fraud in the intra-community trade of luxury vehicles from Germany has been uncovered in Spain, leading to 30 arrests and the seizure of €11 million in assets.

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How did the criminal network use shell companies to evade taxes and launder money?

The criminal network operated across Spain and Germany, using shell companies (missing trader) to evade Spanish VAT on luxury vehicles imported from Germany. Two branches managed distribution in Spain, while a third handled the complex financial structuring to facilitate tax fraud and money laundering.

forbes.com

🌐 85% Global Worthiness

Dec 24, 01:07

Fifth Circuit Reinstates Corporate Transparency Act Reporting Requirements

A federal appeals court overturned a lower court's injunction, reinstating the requirement for most businesses to file Beneficial Ownership Reports (BOI) under the Corporate Transparency Act (CTA) by January 1, 2025, creating immediate compliance challenges.

Fifth Circuit Reinstates Corporate Transparency Act Reporting Requirements

A federal appeals court overturned a lower court's injunction, reinstating the requirement for most businesses to file Beneficial Ownership Reports (BOI) under the Corporate Transparency Act (CTA) by January 1, 2025, creating immediate compliance challenges.

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What is the immediate impact of the Fifth Circuit's decision on businesses subject to the Corporate Transparency Act?

The Fifth Circuit Court of Appeals overturned a Texas judge's injunction blocking the Corporate Transparency Act (CTA), requiring businesses to file Beneficial Ownership Reports (BOI) by the January 1, 2025 deadline unless exempt. This decision reverses a previous ruling that granted a nationwide preliminary injunction, leaving businesses with little time to comply.

smh.com.au

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Dec 23, 07:08

Australian Citizen to be Extradited to US for Training Chinese Pilots

Daniel Duggan, a 56-year-old former US Marine and Australian citizen, will be extradited to the US to face charges of arms trafficking and money laundering for allegedly training Chinese fighter pilots from 2009-2012; this follows Australia's enactment of stricter laws against former defense personn...

Australian Citizen to be Extradited to US for Training Chinese Pilots

Daniel Duggan, a 56-year-old former US Marine and Australian citizen, will be extradited to the US to face charges of arms trafficking and money laundering for allegedly training Chinese fighter pilots from 2009-2012; this follows Australia's enactment of stricter laws against former defense personn...

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How did Duggan's case influence changes in Australian law regarding former defense personnel working for foreign governments?

Duggan's extradition highlights concerns about the transfer of sensitive military knowledge to foreign powers, particularly China. His case led to new Australian laws imposing up to 20 years' jail for unauthorized work with foreign governments, excluding Australia's Five Eyes partners. The case underscores the risks posed by former military personnel taking lucrative contracts abroad.

elpais.com

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Dec 20, 16:13

Spanish Judge Orders Investigation into MEP for Illegal Campaign Financing

A Spanish judge is investigating MEP Luis Pérez for allegedly receiving €100,000 in cash from businessman Luis Romillo to fund his European Parliament campaign, a sum not officially declared, potentially violating electoral and campaign finance laws; the case is now with the Supreme Court.

Spanish Judge Orders Investigation into MEP for Illegal Campaign Financing

A Spanish judge is investigating MEP Luis Pérez for allegedly receiving €100,000 in cash from businessman Luis Romillo to fund his European Parliament campaign, a sum not officially declared, potentially violating electoral and campaign finance laws; the case is now with the Supreme Court.

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What are the key charges against MEP Luis Pérez, and what immediate consequences could this investigation have?

A Spanish judge has ordered an investigation into Member of the European Parliament (MEP) Luis Pérez, known as Alvise, for alleged electoral and illegal political party financing. The investigation follows a complaint by businessman Luis Romillo, who claims to have given Alvise €100,000 in cash for his election campaign. This money was allegedly intended to fund Alvise's campaign for the European Parliament elections.

lemonde.fr

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Dec 19, 22:11

Russian Woman Arrested in France for Leading Global Money Laundering Network

Ekaterina Zhdanova, a Russian national described as a successful businesswoman, was arrested in Nice, France on October 1, 2023, for allegedly leading Smart Group, a global money laundering network investigated by British police and the US Treasury; three others have been charged in France, and anot...

Russian Woman Arrested in France for Leading Global Money Laundering Network

Ekaterina Zhdanova, a Russian national described as a successful businesswoman, was arrested in Nice, France on October 1, 2023, for allegedly leading Smart Group, a global money laundering network investigated by British police and the US Treasury; three others have been charged in France, and anot...

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How did French authorities initially become aware of Ekaterina Zhdanova's alleged criminal activity?

Zhdanova's arrest is a significant development in international efforts to combat money laundering. French authorities were alerted to her activities through investigations into encrypted messaging app Sky ECC, which revealed suspicious communications. Her detention highlights the increasing collaboration between law enforcement agencies across nations to target criminal networks.

abcnews.go.com

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Dec 19, 22:11

Former NYC Advisor Surrenders on Bribery Charges

Former NYC Mayor Eric Adams's chief advisor, Ingrid Lewis-Martin, surrendered Thursday with her son and two real estate investors on bribery and money laundering charges, allegedly involving a $100,000 scheme for favors including construction permits and a visa.

Former NYC Advisor Surrenders on Bribery Charges

Former NYC Mayor Eric Adams's chief advisor, Ingrid Lewis-Martin, surrendered Thursday with her son and two real estate investors on bribery and money laundering charges, allegedly involving a $100,000 scheme for favors including construction permits and a visa.

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What broader implications does this case have for public trust in government, and what systemic changes might be necessary to prevent similar incidents?

The investigation into Lewis-Martin's actions may trigger further scrutiny of city government practices and potentially lead to stricter regulations and oversight mechanisms to prevent similar occurrences in the future. This could include enhanced background checks, stricter conflict-of-interest rules, and increased transparency in city dealings.

dw.com

🌐 75% Global Worthiness

Dec 25, 19:07

Russia Creates Platform to Combat Money Laundering via Data Sharing

The Bank of Russia is creating a platform to share data on suspicious individual transactions with all credit institutions to combat money laundering, aiming to make using banks in such schemes economically unviable; banks largely support this initiative, but concerns about potential misidentificati...

Russia Creates Platform to Combat Money Laundering via Data Sharing

The Bank of Russia is creating a platform to share data on suspicious individual transactions with all credit institutions to combat money laundering, aiming to make using banks in such schemes economically unviable; banks largely support this initiative, but concerns about potential misidentificati...

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What are the potential long-term consequences of this new system for both legitimate financial activities and the privacy rights of individuals in Russia?

The system may lead to increased scrutiny of financial transactions, potentially impacting the privacy of individuals. While aiming to combat illicit activities, the possibility of errors and the need for a rehabilitation process for mistakenly flagged clients should be addressed. The effectiveness of the system will hinge on the accuracy of algorithms and the compliance efforts of participating banks.

forbes.com

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Dec 24, 04:06

Fifth Circuit Reinstates Corporate Transparency Act, Extends Filing Deadline

A Fifth Circuit ruling on December 23, 2024, lifted a nationwide injunction against the Corporate Transparency Act (CTA), requiring companies to submit beneficial ownership information by January 13, 2025, after FinCEN extended the deadline; this follows a lower court's injunction and subsequent app...

Fifth Circuit Reinstates Corporate Transparency Act, Extends Filing Deadline

A Fifth Circuit ruling on December 23, 2024, lifted a nationwide injunction against the Corporate Transparency Act (CTA), requiring companies to submit beneficial ownership information by January 13, 2025, after FinCEN extended the deadline; this follows a lower court's injunction and subsequent app...

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What is the immediate impact of the Fifth Circuit's decision on the enforcement of the Corporate Transparency Act?

On December 23, 2024, the Fifth Circuit Court of Appeals overturned a nationwide injunction blocking enforcement of the Corporate Transparency Act (CTA), requiring companies to disclose beneficial ownership information. This decision reinstates the CTA's reporting requirements, impacting thousands of businesses. FinCEN subsequently extended the filing deadline to January 13, 2025, providing additional time for compliance.

aljazeera.com

🌐 85% Global Worthiness

Dec 23, 13:11

1MDB Sues Amicorp for \$1 Billion Over \$7 Billion in Alleged Fraud

1MDB is suing Amicorp Group and its CEO for over \$1 billion for allegedly facilitating over \$7 billion in fraudulent transactions between 2009 and 2014, using shell companies and sham transactions to launder stolen funds through multiple jurisdictions, as part of a global effort to recover misappr...

1MDB Sues Amicorp for \$1 Billion Over \$7 Billion in Alleged Fraud

1MDB is suing Amicorp Group and its CEO for over \$1 billion for allegedly facilitating over \$7 billion in fraudulent transactions between 2009 and 2014, using shell companies and sham transactions to launder stolen funds through multiple jurisdictions, as part of a global effort to recover misappr...

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What is the immediate impact of 1MDB's lawsuit against Amicorp, and what does it reveal about the scale of the financial scandal?

1MDB, the scandal-hit Malaysian fund, is suing Amicorp Group and its CEO for over \$1 billion, alleging they facilitated over \$7 billion in fraudulent transactions between 2009 and 2014. Amicorp allegedly created shell companies and sham transactions to obscure the origin and destination of stolen funds, playing a "vital role" in the fraud, according to 1MDB. This lawsuit is part of a broader global effort to recover stolen assets.

theglobeandmail.com

🌐 75% Global Worthiness

Dec 20, 04:10

Canada's Weak Response to Financial Crime Jeopardizes National Security

Canada's fall economic statement proposes increasing financial penalties for financial crimes fortyfold and creating a new task force, but these measures are insufficient to address systemic issues, jeopardizing its national security and trade relations with the U.S.

Canada's Weak Response to Financial Crime Jeopardizes National Security

Canada's fall economic statement proposes increasing financial penalties for financial crimes fortyfold and creating a new task force, but these measures are insufficient to address systemic issues, jeopardizing its national security and trade relations with the U.S.

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How do the proposed measures in the fall economic statement address the underlying causes of Canada's vulnerability to money laundering and terrorist financing?

The proposed measures, including a fortyfold increase in financial penalties and a new task force, are inadequate to address the systemic issues. The maximum penalty for a bank is capped at 3 percent of annual revenue, a small amount compared to their earnings. The suggested shift to suspicious activity reports, as used in the U.S. and the U.K., is ignored, limiting investigative effectiveness.

nbcnews.com

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Dec 19, 22:11

Top Aide to NYC Mayor Adams Charged in \$100,000 Bribery Scheme

Former NYC Mayor Eric Adams' top aide, Ingrid Lewis-Martin, was charged with bribery, money laundering, and conspiracy alongside three others for a \"quid pro quo\" scheme involving over \$100,000 in benefits allegedly received in exchange for influencing city decisions; all pleaded not guilty.

Top Aide to NYC Mayor Adams Charged in \$100,000 Bribery Scheme

Former NYC Mayor Eric Adams' top aide, Ingrid Lewis-Martin, was charged with bribery, money laundering, and conspiracy alongside three others for a \"quid pro quo\" scheme involving over \$100,000 in benefits allegedly received in exchange for influencing city decisions; all pleaded not guilty.

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How did the alleged use of encrypted communication and a joint bank account facilitate the alleged bribery scheme?

Prosecutors allege a classic \"quid pro quo\" scheme where Lewis-Martin leveraged her position for personal gain, impacting city decisions and potentially costing taxpayers significant sums. Encrypted communication and a joint bank account used for lavish purchases further illustrate the alleged scheme's depth. This is not connected to the mayor's recent federal indictment.

dailymail.co.uk

🌐 85% Global Worthiness

Dec 18, 13:13

Tate Brothers Ordered to Forfeit £2 Million for Tax Evasion

A UK court ordered Andrew and Tristan Tate to forfeit over £2 million for tax evasion on £21 million in online business revenue, citing a 'straightforward cheat of the revenue' and highlighting the use of complex financial structures to avoid taxes.

Tate Brothers Ordered to Forfeit £2 Million for Tax Evasion

A UK court ordered Andrew and Tristan Tate to forfeit over £2 million for tax evasion on £21 million in online business revenue, citing a 'straightforward cheat of the revenue' and highlighting the use of complex financial structures to avoid taxes.

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How did the Tate brothers' use of multiple bank accounts and a third party contribute to their tax evasion scheme?

The Tate brothers' tax evasion involved complex financial maneuvers, including using a third party's accounts to obscure their earnings from businesses like War Room and Hustlers University. Their failure to pay taxes, coupled with the use of multiple accounts to channel funds, strongly suggests deliberate attempts to avoid tax liabilities.

Showing 121 to 132 of 169 results