Advisers who “facilitate or encourage” tax evasion by companies or individuals should be prosecuted, a senior UK Treasury official has said. In an interview on the BBC’s Andrew Marr show, chief secretary to the Treasury Danny Alexander proposed a new criminal offence of “corporate failure to prevent economic crime”, aimed particularly at banks and accountancy […]

Prosecutors in Geneva have raided the offices of HSBC’s scandal-hit private bank as pressure increases on Britain’s biggest lender over allegations of money laundering and tax evasion. The raid forms part of a criminal inquiry amid accusations that the bank helped customers, including arms dealers and blood diamond traders, move money around the world. It […]

At least 1 000 individuals and companies have attracted Indian markets regulator Sebi’s attention for allegedly using stock markets to evade taxes and launder money through companies mostly existing on paper, notes a report in The Economic Times. It says Sebi is focusing on securities market related violations by these individuals and companies, who have […]

MUMBAI: At least 1,000 individuals and companies have come under markets regulator Sebi’s scanner for allegedly using stock markets to evade taxes and launder money through companies mostly existing on paper. Sebi is focusing on securities market related violations by these individuals and companies, who have used trading in at least 25 listed companies to […]

Israel-based Bank Leumi last week agreed to pay a total of $400 million to resolve charges that it conducted an illegal cross-border scheme to assist U.S. clients in evading federal and state taxes by hiding income and assets in offshore bank accounts in several countries around the world. Bank Leumi Group will pay a total […]

MUMBAI: In its biggest ever crackdown for suspected tax evasion and laundering of black money through stock trading platforms, Sebi today barred 260 entities, including individuals and companies, from the securities markets. While Sebi would further probe these cases, it has also decided to refer the matter to the Income Tax Department, Enforcement Directorate, Financial […]

Argentina’s tax agency charged HSBC bank Thursday Nov. 27, 2014, with helping more than 4,000 Argentines evade taxes by placing their money in secret Swiss accounts. The head of country’s AFIP tax agency, Ricardo Echegaray, said Argentine citizens have evaded about $3 billion in taxes that were handled by intermediaries through a network of offshore […]

Another high level Swiss banker has been charged with conspiring to evade U.S. taxes. The latest indictment is of Martin Dunki, formerly Senior VP at Swiss private bank Rahn & Bodmer. He lives in Switzerland and has not been arrested, but has been charged with one count of conspiracy to defraud the IRS. It carries […]