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SYDNEY (Reuters) – Australia on Tuesday proposed a new law requiring technology firms such as Alphabet Inc’s Google, Facebook and Apple to give police access to private encrypted data linked to suspected illegal activities. The measure, which targets platforms the Australian government says could be used for criminal activities or to plan a terror attack, […]

  On 6 July the UK government confirmed its intention to make two key changes to the taxation of UK property. Glenn Cassidy, senior tax consultant at Equiom, outlines these changes and their potential impact on local residents Last year was a pivotal year for property tax, with a series of big announcements leading to […]

UPDATING the Island’s cyber-crime laws is one of the key priorities for the Home Affairs Minister, who said fresh legislation could be debated by the States in October. Home Affairs Minister Len Norman – who has been in the role for about two months – said that cyber-crime was one of the biggest threats to […]

FRANKFURT (Reuters) – Deutsche Bank has uncovered shortcomings in its ability to fully identify clients and the source of their wealth, internal documents seen by Reuters show, more than a year after it was fined nearly $700 million for allowing money laundering. In two confidential reviews, dated June 5 and July 9, Germany’s biggest lender […]

Reddit was victim of a serious hack that has compromised the security of some of its users’ data, the social network announced Wednesday. In a statement published to the site, Reddit informed its users that it learned on June 19 that an attacker had gained access to the data through the company’s cloud after compromising […]

Introduction 1. Jersey, Guernsey and the Isle of Man have been working together to address the concerns of the EU Code of Conduct Group (Business Taxation) (“the COCG”) regarding economic substance. 2. As part of a review of over 90 jurisdictions, the EU Code Group concluded that a. Jersey and the other Crown Dependencies were […]

Financial crime in developing countries, particularly Africa, is on the rise, undermining gains in economic growth and negatively affecting development. 1. This is particularly worrying on a continent whose countries are among the most resource-rich worldwide, but whose people are among the poorest. 2. Quantifying the cost of financial crime in Africa is difficult, and […]

INTRODUCTION 1. The Sanctions and Anti-Money Laundering Act 2018 received Royal Assent on 23 May 2018. a. http://www.legislation.gov.uk/ukpga/2018/13/pdfs/ukpga_20180013_en.pdf 2. Prior to this Act the UK’s domestic sanctions regimes were confined to terrorism legislation. 3. The Sanctions and Money Laundering Act is therefore a significant piece of legislation and represents a key aspect of the “Brexit […]