eprivateclient took a brief look at what’s been going on in the North America region…

US prosecutors are seeking multi-million dollar penalty for a foreign bank account reports (FBAR) violation. Daniela Dadurian is facing a $2.7 million liability for failing to file FBARs for accounts owned by herself, her mother, and several foreign entities.

Ms Dadurian argued that she relied on tax attorneys to handle her affairs, but the US Department of Justice does not consider a 'reasonable cause' plea to be a defence against penalties for wilful non-disclosure.

Five fraudsters have be...