Advocacy groups and developing countries are lobbying the United Nations to bolster its role in fighting tax crimes following disappointments with the efforts of an intergovernmental group representing wealthy nations.
The United States and UBS AG asked a Miami judge Friday to again delay a tax evasion hearing so the parties could hash out the details of a preliminary settlement.
The United States has reached a tentative agreement with UBS AG and Switzerland over a bank program that allowed U.S. tax payers to avoid reporting billions of dollars in revenue.
A Miami judge Monday granted a two-week stay of a hearing on whether the United States can force UBS AG to turn over data on 52,000 suspected U.S. tax evaders.
In the wake of an extensive proposal forwarded by the Obama administration to stem tax evasion, anti-money laundering compliance departments are looking again at what they can and must do to fight the crime.
The Obama administration's plans to curb foreign institutions from aiding U.S. tax evaders is short on details, but could block U.S. citizens and residents' access to foreign banks and put a new compliance burden on U.S. institutions, say some tax professionals.
Mike Flowers, a former counsel to the Permanent Subcommittee on Intelligence, discusses the committee's hearing on tax evasion by UBS AG and LGT Bank, in the second half of a two-part interview.
Financial regulation is in the early stages of undergoing its biggest change since the passage of the U.S. Patriot Act, according to Mike Flowers, a former counsel for the U.S. Permanent Subcommittee on Investigations.
A Lichtenstein bank accused by U.S. lawmakers of aiding tax evaders could face sanctions on the heels of a nearly $800 million penalty against UBS AG, according to banking consultants.
The U.S. Senate is considering an anti-fraud bill that would broaden the application of money laundering laws to include the gross receipts of crimes and money funneled offshore to avoid taxes.
An increase in the number of individuals coming clean about secreting away money will mean greater government scrutiny of foreign bank accounts and complicit financial institutions, say tax attorneys.
The United States and Liechtenstein have signed a tax information exchange agreement that would give U.S. authorities more leverage in finding American tax evaders.
The United States should implement stricter measures to expose how tax evaders and money launderers move funds to and from bank secrecy jurisdictions, U.S. lawmakers and consultants said Thursday.
Swiss bank UBS AG will end its offshore banking services to residents of the United States, a company official told Capitol Hill on Thursday.
A federal judge's ruling may have nudged U.S. courts closer to treating tax evasion as a predicate crime for money laundering, legal experts say.
Individuals and businesses with bank accounts in the United States being pursued by foreign governments as tax cheats could face money laundering charges in the U.S., lawyers say.
Carl Levin's latest recommendations, contained in the subcommittees March 15 report detailing the 125 U.S bank accounts of former Chilean dictator Augusto Pinochet, should be taken as diplomatic and regulatory best practices.
New legislation that proposes to eliminate conflicts of interest that arise when federal bank examiners take private sector jobs will be introduced into the U.S. Senate.
A California jury has convicted two leaders of a tax evasion-money laundering ring centered in Costa Rica that was the subject of the biggest raid in IRS history last year.
A survey of U.S. securities firms by Senator Carl Levin's Permanent Subcommittee on Investigations has exposed another major Achilles heel in the money laundering controls of U.S. securities firms.