The leak of millions of records purporting to show widespread exploitation of offshore financial centers by global leaders, lenders and criminals is expected to draw governmental scrutiny of illicit finance, however unevenly.
U.K. elections in May aren't likely to spare British territories from implementing new corporate transparency measures, but the results could determine how soon and how far those steps are taken.
With new international data-exchange agreements in place, the United Kingdom will soon have greater access than ever to information on tax dodgers with offshore accounts, according to the nation's Financial Secretary to the Treasury David Gauke.
On the eve of key behind-the-scenes talks on the Fourth European Union Anti-Money Laundering Directive, the rift over proposals for the public register of trusts has widened between the United Kingdom and Europe.
Britain's tax enforcer Friday revised its plan to seize money from delinquent taxpayers, extending the time debtors have to appeal the decisions and bolstering independent oversight of the program.
The U.K. is weighing amendments to its plan for a public registry of corporate owners that would allow individuals who control the firms to better protect their personal data.
Somewhere in a controversial EU fee for the U.K. disclosed Thursday lies something like an old saw, only it's not about how crime doesn't pay but how it costs, and in unexpected ways.
ACAMS moneylaundering.com spoke with the co-head of the United Kingdom's Serious Fraud Office's bribery and corruption unit, Ben Morgan, about his hopes of securing the U.K.'s first deferred prosecution agreement with a corporate.
With the polls close and voter turnout expected to be around 97 percent, Scotland's referendum on independence is an event rife with uncertainties. One exception: "yes" will mean rethinking the country's banking sector.
The global banking sector has yet to adequately make use of the anti-money laundering data it collects from clients and transactions, experts at a summit in the United Kingdom said Thursday.
The Obama administration is pushing lawmakers to introduce legislation that would require corporations to obtain tax identification data that could be turned over to investigators.
The United Kingdom Tuesday outlined how it might soon get tougher on tax cheats through revised penalties and clearer standards for criminal prosecutions when individuals are aided by commercial advisors.
U.S. officials will formally propose this month a long-planned rule that would require banks to identify the owners of their corporate clients, according to an Office of Management and Budget schedule.
Intergovernmental plans to better identify corporate owners will do little to thwart financial crooks, even at great cost to banks and governments, according to an academic report on offshore financial flows.
EU parliamentarians voted Tuesday to require member-states to update their laws targeting money launderers and the financiers of terrorism, in part by naming corporate owners.
A European Parliamentary committee Thursday approved far-reaching changes to the EU's rules combating money laundering and terrorist financing, including an amendment that would require nations to publicize corporate owners.
British asset management firms are failing to adequately address their vulnerabilities to money laundering, bribery and corruption, the United Kingdom's chief financial regulator said Thursday.
British officials are set to propose legislation that would require private corporations and limited liability partnerships to publicly disclose their individual owners, a U.K. minister said Monday.
U.S. Treasury Department officials are weighing whether to exempt trusts and offer more flexibility on verification requirements in an upcoming proposal that would impose data collection duties on corporate accounts held at banks.
Critics of a U.S. Treasury Department plan to strengthen beneficial ownership reporting by financial institutions aired their concerns to Obama administration officials at a rare public hearing Tuesday.