A crackdown on Dutch financial gatekeepers who fail to comply with anti-money laundering rules is handing investigators in the Netherlands a cache of useful leads.
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.
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.
Switzerland's virtually unregulated commodities market can be vulnerable to criminal tax evasion, money laundering and other financial crimes, all without the banks involved ever knowing, according to Andreas Missbach, the joint managing director of The Berne Declaration.
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.
An IRS personnel reshuffle designed to combat offshore tax evasion coincides with an influx of over 800 new employees and will facilitate enforcement of a controversial tax law beginning in 2013, say analysts.
A new IRS division focusing on recovering lost tax revenue from the ultra-wealthy has begun auditing individuals, according to a corporate tax attorney at a Washington, D.C. law firm.
The head of the Senate's powerful Permanent Subcommittee on Investigations is pushing for the establishment of international agreements to penalize banks known to help tax evaders.
Bank secrecy jurisdictions have lobbied behind the scenes to weaken a United Nations call for greater international cooperation on tax evasion expected to be issued this week, say tax policy analysts.
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.
The use of charities to evade taxes is "serious and increasing," robbing some countries of hundreds of millions of dollars per year, according to a European economic policy group.
Federal authorities Wednesday charged the former head of UBS's offshore private banking division with helping tens of thousands of U.S. clients conceal billions of dollars from the Internal Revenue Service.
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 abuse of offshore tax havens - a topic that has made its way into international headlines in recent months - is the single biggest unresolved issue in financial compliance, according to Jack Blum, a lawyer at Cleveland-based law firm Baker Hostetler.
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.