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 […]

Dutch bank ING is accused of enabling 123 million euros of money laundering, channeling the flow of funds into companies in tax havens such as the Virgin Islands, reported Volkskrant.nl. Statements made by financier Sam van Doorn, 71, says that ING was repeatedly warned about the shady business practices going on there. Van Doorn’s ex-business associate Erwin van Ruiter, who led […]

Revenue & Customs has so far collected just £13.9m from an initiative to prise open secret bank accounts in the Crown Dependencies which was originally expected to end up raising £1bn. Just over 400 people have so far come forward to own up to previously undeclared accounts in the Isle of Man, Jersey and Guernsey, […]

Thematic Paper on Money Laundering Relationship between Money Laundering,Tax Evasion and Tax Havens. Money laundering is a very vast and complex topic, which requires a flexible and thoroughgoing political response to it. The present paper will only deal with the relationship between money laundering tax evasion and tax havens, for practical reasons and to remain […]

THE Gibraltar government is suing a Spanish daily national over a front page story which pictured the Rock as an iceberg of dirty money. The article, which appeared in ABC newspaper, labelled Gibraltar a ‘tax haven’ and alleged it is home to ‘15 organised crime gangs’ connected to drug smuggling, money laundering and the Russian […]

The Labuan Financial Services Authority, on October 13, 2014, announced that it had signed a Memorandum of Understanding on cooperation with the Jersey Financial Services Commission last month, to foster improved collaboration on the regulation of the territories’ offshore financial services industries. The Labuan FSA said: “The MoU with JFSC is significant to [the] Labuan […]

1. With the Law of 30 July 2013, the Belgian government has introduced a new reporting obligation for individual resident founders and beneficiaries of legal arrangements. 2. The concept of “legal arrangement” covers (i) trusts, foundations and similar structures; and (ii) certain tax haven companies mentioned on a black list (to be determined by Royal […]