The U.S. Treasury Department must deploy more personnel to developing nations to disrupt the flow of funds to Islamic State militants and other global terrorist organizations, lawmakers and congressional witnesses said Tuesday.
The Internal Revenue Service's Criminal Investigations division for the second straight year began fewer investigations and sought a smaller number of prosecutions for money laundering, terrorist financing and other financial crimes, the agency said Thursday.
The Internal Revenue Service must improve communication with financial institutions to detect and prevent criminals from using stolen social security and tax identification numbers to claim a tax refund, according to U.S. officials.
The Internal Revenue Service will no longer move to quickly seize funds linked solely in suspicious activity reports to potential structuring of legally derived money, an agency leader said Sunday.
Thirty-four nations disclosed a finalized model plan Monday to regularly share financial data for tax enforcement purposes as part of a broader crackdown on tax dodgers and offshore jurisdictions.
An influential Senate subcommittee will hear testimony on tax evasion through offshore banks, Switzerland agrees to follow automatic data exchange standards and more, in this week's news roundup.
The U.S. Justice Department seizes digital funds tied to an Internet black market, Republicans line up behind effort to fight FATCA and more, in this week's news roundup.
China prohibits the trading of bitcoins by financial institutions over money laundering concerns, the U.K. closes 100 suspicious Bank of Cyprus accounts, and more, in this week's news roundup.
An IRS initiative granting state and municipal investigators access to a federal database of bank regulatory filings has helped law enforcement agencies reap hundreds of millions of dollars in forfeitures.
Financial trade groups are asking the U.S. Treasury Department for more time to comply with intergovernmental agreements intended to shine a light on bank accounts held by American tax dodgers.
A Geneva court's ruling clearing the way for bankers to know whether their employers have identified them to American investigators threatens to complicate a negotiated U.S.-Swiss tax deal, say sources.
Swiss financial institutions will likely exploit gaps in a bilateral agreement between the United States and Switzerland to preserve bank secrecy for their clients, says the bestselling author of a book on money laundering.
An expected pitch Friday by Switzerland's executive branch to clear the way for banks to share data with the United States is likely to face stiff domestic challenges, say Swiss attorneys.
A plan to require member-states of the European Union to automatically exchange tax-related data in an effort to boost government revenues is likely to face political and logistical challenges.
A Mexican currency exchange house that registered with the U.S. Treasury Department manipulated currency declaration reports in efforts to launder tens of millions of dollars of drug profits, according to court documents.
The U.S. Internal Revenue Service's criminal division will open more investigations into members of an anti-government group that refuse to pay income tax, according to a senior agency official.
Thousands of small money services businesses have lost some federal anti-money laundering oversight and guidance due to budget cuts involving two U.S. Treasury agencies, according to current and former government officials.
A U.S. lawmaker is questioning an IRS decision not to reward whistleblowers who disclose potential violations of Bank Secrecy Act reporting requirements tied to accounts held at foreign financial institutions.
The U.S. Treasury Department finalized rules Tuesday that could eventually permit the automatic exchange of U.S. banking data with dozens of countries in efforts to combat offshore tax evasion.
Rules intended to collect data on offshore American assets will be most greatly softened for financial institutions in five European nations, the U.S. Treasury Department proposed Wednesday.