An expected strengthening of data privacy standards in Europe and elsewhere could hinder efforts by multinational banks to share information on suspicious clients with their foreign affiliates, say current and former U.S. officials.
Defense attorneys are hoping to overturn convictions against their clients in dozens of money laundering, drug and other cases that they say may have been based on undisclosed national security data.
As settlement negotiations with Swiss banks continue, the IRS is turning its attention to jurisdictions outside of Europe, including two set to eclipse Switzerland as the world's top secrecy havens.
The effectiveness of Hong Kong's new anti-money laundering law will hinge largely on the willingness of the jurisdiction's regulators to enforce its new powers, according to former investigators and consultants.
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