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In his 12-year career as an Assistant U.S. Attorney in the Southern District of New York, Daniel W. Levy has investigated and prosecuted several banks, bankers, and financial services advisors that facilitated the evasion of U.S. taxes through the use of complicit offshore financial institutions.
U.N. and U.S. sanctions against the Lashkar-e-Taiba, one of the largest militant Islamist groups operating in the world, have done little to stem its finances, according to Amit Kumar, the fellow for Homeland Security and Counterterrorism at the Center for National Policy.
U.S. officials Wednesday accused three former client advisors of an unnamed Swiss bank of helping American customers hide over $420 million in offshore accounts.
U.S. Fifth Amendment protections cannot shield Bank Secrecy Act reports from grand jury and other subpoenas, two appellate courts have ruled in tax evasion-related cases.
More sensitive diplomatic communiqués leaked by Wikileaks.org, prosecutions against former UBS AG account holders for tax evasion continue, and more, in this week's roundup.
A federal court Monday dismissed criminal charges against UBS AG after determining that the Swiss banking giant fulfilled its obligations under a high-profile deal made with U.S. authorities in August 2009.
More than a dozen lawsuits against banks that allegedly provided accounts for terrorist organizations have stalled in court over the past five years, with none yet getting a trial date, court documents show.
Switzerland will begin disclosing account data on nearly 4,000 UBS AG clients within a week after Swiss lawmakers Thursday approved the handover, marking an unprecedented exception to the country's bank secrecy laws.
A decision by Swiss lawmakers to block a deal allowing UBS AG to turn over client data to the United States has left supporters of the agreement scrambling to find an alternative.
A Swiss official warns that the United States plans legal action if a deal to hand over UBS account data is blocked, China announces that it has tweaked its counterterrorism laws and Ecuador says it will be off of FATF's blacklist by June, in this week's news roundup.
A decision by a Swiss court suspending challenges of a U.S. investigation of UBS AG accounts has cleared the way for Swiss lawmakers to decide in June whether to turn over account data.
Jordanian lawmakers approve changes to the country's chief AML law and Germany's financial regulator says it is probing UBS AG for tax evasion and money laundering, in this week's news roundup.
The dismissal last month of a $500 million civil lawsuit against UBS AG for allegedly contributing to terrorist attacks won't impact rulings on similar lawsuits against other banks, say analysts.
The number of lawsuits against banks accused of providing financial services to designated terrorist groups may increase by more than fourfold this year, say terrorism analysts and attorneys.
Over 100 victims of Israeli terrorist attacks are suing one of China's largest banks for knowingly wiring millions of dollars to two blacklisted terrorist groups, even after Israeli counterterrorism agents commanded the institution to stop.
A program aimed at assuring donors that their donations to Muslim charities will not be handed over to terrorists is unlikely to offer any protections to banks, say terrorism consultants and former regulators.
Four Canadians are suing the Montreal branch of Lebanese-Canadian Bank, alleging that the institution knowingly provided financial services to Hizbollah, an organization blacklisted internationally for terrorism.
Misconceptions have often fueled the debate on how to stop terrorist financiers since the attacks of September 11, 2001, according to Ibrahim Warde, a professor at Tufts University in Boston. Warde talked with reporter Brian Orsak about what misinformation has cost financial services .
Israeli lawyer Itsana Nitsana Darshan-Leitner, who represents victims of terrorism in lawsuits against banks, spoke recently with Fortent Inform reporter Brian Orsak about the suits and what banks should be doing to better monitor for terrorists attempting to exploit the financial system.
Swiss bank UBS faces its second civil lawsuit in five months for allegedly processing transactions tied to Middle Eastern terrorist organizations. Plaintiffs in the suit say the bank should pay no less than $500 million for providing financial services to Iran, a "state sponsor of terrorism"
