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Weekly Roundup: Austria ‘Sticks’ to Bank Secrecy, Cyprus Nears Completion of Audit, and More
printAustria's Finance Minister Maria Fekter said Friday that the nation is "sticking to bank secrecy" despite international pressure to improve financial transparency, Reuters reported. During a meeting of European ministers, Fekter labeled automatic tax exchange agreements "a massive interference in people's privacy rights," adding that the Group of 20 economies have failed to thwart "money laundering [in the] Cayman Islands, Virgin Islands [and] Delaware." Austria now stands as the sole EU nation not to share tax information with its neighbors. More The head of Cyprus' financial intelligence unit Eva Rossidou Papakyriacou confirmed Thursday that Moneyval completed an independent audit of...
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