Offshore Money Laundering
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"Panama Papers" Trial To Begin 8 Years After Tax Evasion Scandal
Twenty-seven people are set to go on trial on Monday for money laundering in connection with the "Panama Papers" tax evasion scandal, which revealed how many of the world's wealthy stashed assets in offshore companies.
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IT Ministry to Block Binance, Kraken, More Crypto Websites After FIU Issues Show Cause Notice
As part of compliance action against the offshore entities, Financial Intelligence Unit India (FIU IND) has issued show cause notices to nine offshore Virtual Digital Assets Service Providers (VDA SPs) under Section 13 of the Prevention of Money Laundering Act (PMLA).
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Parliament Passes Bill to Levy 28 Percent GST on Online Games; Offshore Gaming Firms to Need Registration
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 percent tax on the full face value of bets in online gaming, casinos and horse race clubs. The CGST amendment bill defines 'online gaming' as a game on the internet or an electronic network.
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Australia’s Crypto-Based Money Laundering, Offshoring to be Tackled by New Law Unit
In Australia, the federal police have formed a new unit whose one-track job would be to sniff out illicit money transfers happening through crypto assets. With increasing scrutiny over the sector, the Australian police force is aiming to delve deeper into understanding the models of organised financial crimes.
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In Case By Imran Khan, Pak's Nawaz Sharif Gets Breather In Supreme Court: 10 Points
Pakistan Prime Minister Nawaz Sharif today dodged disqualification after a split decision by the Supreme Court which ordered a joint investigation in allegations against him in the "Panama Papers" leaks. Mr Sharif, 67, has denied any wrongdoing, but the Supreme Court agreed to investigate his family's offshore wealth late last year after opposition...
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UB Group Denies Kingfisher Airlines Loans Funded Offshore Property
Embattled tycoon Vijay Mallya's UB Group has denied allegations that it used Rs 430 crore ($65 million) of bank loans to now-defunct Kingfisher Airlines to buy property overseas.
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US, India To Cooperate On Checking Tax Evasion, Terror Funding
India and the US have agreed to enhance cooperation on tackling offshore tax evasion through information sharing and joint audits, while intensifying efforts to combat money laundering and terror financing.
-
Offshore Accounts Are For More Than Laundering Money
Offshore accounts conjure images of bad behaviour by the rich and shady, and for good reason: they have been used to dodge taxes, fund organized crime and facilitate corruption. But many people use offshore accounts for more than just hiding bribes and laundering money.
-
Panama Papers Also Offer Info On 'Crime Of The Century' - A Gold Heist
A Panamanian shell company may have helped hide millions of dollars from the Brink's-Mat heist, a British gold bullion robbery that is etched in criminal folklore, leaked tax documents allege.
-
Sebi Widens Black Money Probe, Offshore Arbitrage Under Lens: Report
Widening its probe into suspected tax evasion and laundering of black money through stock markets, the Securities and Exchange Board of India (Sebi) is looking into illicit 'arbitrage' through derivatives trading from offshore locations.
-
Sebi Seeks to Step Up Scrutiny of Offshore Wealth Managers: Report
Seeking to root out undeclared wealth, the Securities and Exchange Board of India (Sebi) has sent letters to some large wealth managers operating out of low-tax centres like Hong Kong and Singapore to try and bring them under its remit, people with knowledge of the matter said.
-
Government Says It Will Be Difficult to Hide Undisclosed Overseas Assets
Armed with an automatic information exchange pact with the US, the government on Thursday asked persons holding undisclosed offshore assets to declare them before September 30 as it would be difficult to hide unaccounted assets in future.
-
India, US Join Hands to Close In on Tax Evaders
India and the United States signed a tax information sharing agreement on Thursday, under a new US law meant to combat offshore tax dodging by Americans as well as Indians stashing funds abroad.
-
Black money menace: Government acts in over 80 cases, more to follow
In its crackdown against alleged black money in offshore accounts, the government has begun action in at least 84 cases and many more cases are being probed, although it is getting virtually no cooperation from countries like Switzerland.
-
India staff under scanner in HSBC money-laundering probe: Report
HSBC's staff in India has come under the scanner for deficiencies in their role as "offshore reviewers" of the global banking giant's compliance to safety mechanism against money laundering and terrorist financing.
-
"Panama Papers" Trial To Begin 8 Years After Tax Evasion Scandal
Twenty-seven people are set to go on trial on Monday for money laundering in connection with the "Panama Papers" tax evasion scandal, which revealed how many of the world's wealthy stashed assets in offshore companies.
-
IT Ministry to Block Binance, Kraken, More Crypto Websites After FIU Issues Show Cause Notice
As part of compliance action against the offshore entities, Financial Intelligence Unit India (FIU IND) has issued show cause notices to nine offshore Virtual Digital Assets Service Providers (VDA SPs) under Section 13 of the Prevention of Money Laundering Act (PMLA).
-
Parliament Passes Bill to Levy 28 Percent GST on Online Games; Offshore Gaming Firms to Need Registration
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 percent tax on the full face value of bets in online gaming, casinos and horse race clubs. The CGST amendment bill defines 'online gaming' as a game on the internet or an electronic network.
-
Australia’s Crypto-Based Money Laundering, Offshoring to be Tackled by New Law Unit
In Australia, the federal police have formed a new unit whose one-track job would be to sniff out illicit money transfers happening through crypto assets. With increasing scrutiny over the sector, the Australian police force is aiming to delve deeper into understanding the models of organised financial crimes.
-
In Case By Imran Khan, Pak's Nawaz Sharif Gets Breather In Supreme Court: 10 Points
Pakistan Prime Minister Nawaz Sharif today dodged disqualification after a split decision by the Supreme Court which ordered a joint investigation in allegations against him in the "Panama Papers" leaks. Mr Sharif, 67, has denied any wrongdoing, but the Supreme Court agreed to investigate his family's offshore wealth late last year after opposition...
-
UB Group Denies Kingfisher Airlines Loans Funded Offshore Property
Embattled tycoon Vijay Mallya's UB Group has denied allegations that it used Rs 430 crore ($65 million) of bank loans to now-defunct Kingfisher Airlines to buy property overseas.
-
US, India To Cooperate On Checking Tax Evasion, Terror Funding
India and the US have agreed to enhance cooperation on tackling offshore tax evasion through information sharing and joint audits, while intensifying efforts to combat money laundering and terror financing.
-
Offshore Accounts Are For More Than Laundering Money
Offshore accounts conjure images of bad behaviour by the rich and shady, and for good reason: they have been used to dodge taxes, fund organized crime and facilitate corruption. But many people use offshore accounts for more than just hiding bribes and laundering money.
-
Panama Papers Also Offer Info On 'Crime Of The Century' - A Gold Heist
A Panamanian shell company may have helped hide millions of dollars from the Brink's-Mat heist, a British gold bullion robbery that is etched in criminal folklore, leaked tax documents allege.
-
Sebi Widens Black Money Probe, Offshore Arbitrage Under Lens: Report
Widening its probe into suspected tax evasion and laundering of black money through stock markets, the Securities and Exchange Board of India (Sebi) is looking into illicit 'arbitrage' through derivatives trading from offshore locations.
-
Sebi Seeks to Step Up Scrutiny of Offshore Wealth Managers: Report
Seeking to root out undeclared wealth, the Securities and Exchange Board of India (Sebi) has sent letters to some large wealth managers operating out of low-tax centres like Hong Kong and Singapore to try and bring them under its remit, people with knowledge of the matter said.
-
Government Says It Will Be Difficult to Hide Undisclosed Overseas Assets
Armed with an automatic information exchange pact with the US, the government on Thursday asked persons holding undisclosed offshore assets to declare them before September 30 as it would be difficult to hide unaccounted assets in future.
-
India, US Join Hands to Close In on Tax Evaders
India and the United States signed a tax information sharing agreement on Thursday, under a new US law meant to combat offshore tax dodging by Americans as well as Indians stashing funds abroad.
-
Black money menace: Government acts in over 80 cases, more to follow
In its crackdown against alleged black money in offshore accounts, the government has begun action in at least 84 cases and many more cases are being probed, although it is getting virtually no cooperation from countries like Switzerland.
-
India staff under scanner in HSBC money-laundering probe: Report
HSBC's staff in India has come under the scanner for deficiencies in their role as "offshore reviewers" of the global banking giant's compliance to safety mechanism against money laundering and terrorist financing.
