Money Laundering/AML

HM Treasury has issued new guidance about risks posed by jurisdictions with “unsatisfactory money laundering and terrorist financing controls”.

The Bermuda Registrar of Companies has implemented a number of changes to its economic substance laws.

The Russian Federal Tax Service (the FTS) has sets out guidance for tax inspectorates on how to identify tax-avoiding misrepresentations of business operations and the use of sham companies.

NatWest is facing criminal proceedings over an alleged breach of money laundering rules, in relation to more than £264 million in cash deposits to a single customer account.

A new UK-wide training programme has been launched aimed at supporting galleries, artists and other ‘art market participants’ in meeting their obligations under the 5th Anti-Money Laundering Directive (AMLD5)

The UK government has reaffirmed its commitment to keep the UK as the second largest global hub for wealth management, Economic Secretary to the Treasury, John Glen MP, said in his keynote address at Personal Investment Management & Financial Advice Association (PIMFA) Virtual Fest 2

UBS has begun its appeal against a record €4.5 billion penalty.

“You’re never going to see Unexplained Wealth Orders (UWOs) every day,” but this doesn’t mean you should ignore them, Andrew Fremlin-Key, an associate at Withersworldwide, has warned.

Countries should increase efforts to better deter, detect and disrupt the activities of professionals who enable tax evasion and other financial crimes, according to a new OECD report

Rawlinson & Hunter's Stephen Yates looks at tax developments this month...