MONEYVAL – the wait is over for Guernsey!!! The report on the 4th assessment visit of Guernsey by MoneyVal was published on Friday 15th January. Full 322 page Report here – http://bit.ly/1QhsPDl executive summary here – http://bit.ly/1OuGSkj Guernsey was found to be compliant or largely compliant with all but one of the 40 FATF recommendations and the […]

The report on the 4th assessment visit of Guernsey by Moneyval was published today (executive summary here). Generally the report is excellent news for Guernsey (and justifiably so). Guernsey was found to be compliant or largely compliant with all but one of the 40 FATF recommendations and the nine special recommendations; the exception being in […]

More than $3 billion has been laundered in Trinidad and Tobago over the past three years, according to the country’s Financial Intelligence Unit director, Susan Francois. Speaking at the University of the Southern Caribbean (USC) in Maracas at the launch of the Money Laundering and Financial Crimes Institute in Trinidad and Tobago (MLFC), a joint effort by […]

Regulation is needed in the global art market because it is vulnerable to money laundering, tax evasion, trading on inside information and price manipulation – as reported by the Financial Times blog (Jan 2015) after an FT Weekend lunch in Davos. It is indeed not much of an exaggeration to state that the art world […]

An international art dealer has gone on trial in Paris on charges of tax fraud and money laundering. Two relatives of Guy Wildenstein allegedly informed authorities of the family’s financial dealings, prompting them to demand around $602 million in back taxes. Wildenstein, 70, the Franco-American heir of a New York art-dealing empire, is accused of […]

Britain’s “woefully inadequate” anti-money laundering system has left the country wide open to corrupt money and terrorism funds and needs radical overhaul, a leading anti-corruption group said on Monday. Each year billions of pounds of dirty money flow through Britain, but the system for identifying it is too fragmented and unaccountable to be effective, according […]

Germany, Luxembourg, and Spain are egregious offenders in “supporting an unjust global tax system,” according to a new report from the European Network on Debt and Development (Eurodad), a network of NGOs. The report authors write that Germany and Luxembourg in particular “offer a diverse menu of options for concealing ownership and laundering money.” “There […]

Summary: The Respondent Olayemi Omobolanle Daniel was sentences to four years’ imprisonment in June 2013 after convictions for money laundering and mortgage fraud. The Respondent had acted for an individual who had purchased a number of properties from a development company and sold them onto buyers. It became apparent that fraud had taken place in […]