PYMNTS
NOVEMBER 7, 2019
The Bank of England has told HSBC to improve compliance controls for non-fiscal factors like fraud and staff conduct, according to a report by Reuters. HSBC posted an 18 percent loss in pre-tax profits for the third quarter of 2019 compared to the same period last year, reports said. businesses, which had the greatest losses.
PYMNTS
MAY 12, 2016
office were facilitating tax evasion and money laundering. regulators didn’t seem inclined to take any real steps toward looking into the claims about BSI’s role in tax evasion at the time. A former employee at Swiss bank BSI, who worked at the bank’s U.K. But as the FT’s reports showed, U.K.
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PYMNTS
MAY 28, 2019
A German investigation of Cum-Ex tax deals involves as much as 447.5 Cum-Ex deals, which are no longer allowed, involved taking advantage of a German practice on tax refunds for dividends. When they were in use, an entity paying dividends withheld the tax automatically, but the payment was certified by the shareholder’s bank.
PYMNTS
MARCH 3, 2020
Facebook acquired Instagram for $1 billion in 2012 and WhatsApp for $19 billion in 2014. Big tech companies like Apple and Facebook could “destroy a small business with a change to an algorithm,” he said. He added that by not cracking down on mergers, it was increasingly costing consumers.
PYMNTS
MARCH 12, 2020
The men were said to have impersonated Jean-Yves Le Drian, France’s defense minister from 2012 to 2017, mostly by phone — but in some instances, they staged a fake office and used a silicone mask for video calls. They were also told that public tax money couldn’t be used for ransom and that the government would pay them back.
Abrigo
JUNE 27, 2023
Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. In 2012, FinCEN issued requirements for non-bank residential mortgage lenders and originators to establish an AML program and file SARs. Our team of experts can help.
PYMNTS
MARCH 22, 2017
And then, in 2012, the situation got even more complicated. They also pay their staff, pay their suppliers, pay their utility bills and pay their taxes. This is central concern to state officials, since one of the main driving forces behind legalization, particularly recreational legalization, is the tax revenue it can bring in.
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