The Bank of England will allow European banks to continue operating without creating expensive subsidiaries after Brexit, the BBC reported, the opening gambit in a tussle with the EU over London’s position as a top global financial hub. The BoE’s decision, if confirmed, would mean European banks offering wholesale services would not face new hurdles […]

“The next time you plan to cross a border, leave your phone at home.” That is the rather startling advice in a blogpost that is being widely shared right now. Its author, Quincy Larson, is a software engineer, who has previously written about the importance of protecting personal data. He now fears that data could […]

On 7 April 2016, an article on reuters.com reported that the FCA has written to around 20 banks and other financial institutions, giving them a deadline of 15 April 2016 to check whether they have any links to Mossack Fonseca, the firm at the centre of the leak of the so-called “Panama Papers”. http://reut.rs/22hDgZJ According […]

The Panama legal firm at the heart of a massive data leak kept clients who were subject to international sanctions, documents show. Mossack Fonseca worked with 33 individuals or companies who have been placed under sanctions by the US Treasury, including companies based in Iran, Zimbabwe and North Korea. One had links to North Korea’s […]

According to a report published in China by the Central Bank (that has since been removed) and reported by the BBC, close to 20,000 public officials in China have collectively removed about $120 billion from China and transferred it to Canada, the US, Australia and the Netherlands through the use of offshore structures such as […]