• 305.576.4242
  • teiglawrence
foreign account
enforcement news

Singapore & Hong Kong Enforcement

October 11, 2017 - Older couple arrested in international tax fraud, money laundering investigation
The Dutch authorities seized dozens of millions of euros in, among other things, Chinese art, cars, cash, a holiday park in France, a marina in the Netherlands, and bank accounts in Germany, Hong Kong and Panama. The police also raided commercial properties in Loosdrecth and Gennep.

July 28, 2017 - Bangladesh black money in Swiss banks--a reality check
The Zurich-based Swiss National Bank (SNB) recently published the data on money held in Swiss banks by foreign clients. According to that report, the total money held in Swiss banks by all their foreign clients marginally increased to CHF 1.42 trillion (USD 1.48 trillion) in 2016 from the preceding year's CHF 1.41 trillion (USD 1.45 trillion).

July 19, 2017 - China's Lufax to Launch First Overseas Platform in Singapore
Chinese online wealth management giant Lufax will launch its first overseas platform in Singapore, the company said on Monday, as a more welcoming regulatory environment gave the city state an edge over neighboring Hong Kong.

July 5, 2017 - How the ultra-rich get richer thanks to tax havens such as Hong Kong and Monaco
Monaco; the Isle of Man and the Channel Islands; Gibraltar; corners of the Caribbean, such as the British Virgin Islands; remote, otherwise impoverished Pacific island nations like Vanuatu – legal domicile in these quiet bolt-holes enables the affluent to park their assets far from the taxman’s prying eyes.

July 5, 2017 -U.S. Hunts Swiss Bank «Leavers»
Justice and tax officials are zeroing in on Israel, Singapore and Hong Kong after Switzerland, Fort told the newspaper.

May 15, 2017 - This Caribbean Bank Wants Chinese Money No One Else Will Touch
The new Bank of Asia (BVI) Ltd. is to begin operating online later this year.

March 29, 2017 - DeVere: 1.5 Million Americans in Asia May Renounce Citizenship Over FATCA
The poll, carried out by deVere Group, one of the world’s largest independent organizations, and its Hong Kong division, Acuma, also discovered that more than half of Americans living in East Asia now have problems accessing normal banking services due to FATCA.

Feb 15, 2017 - Hong Kong takes aim at middlemen in wake of Panama Papers scandal
The leaked documents from Panama law firm Mossack Fonseca, which contained information on 214,000 offshore companies, showed that its Hong Kong offices were its busiest globally. It worked with more than 2,200 banks, accountants, law firms and other middlemen in the city to funnel money from China and elsewhere into nearly 37,700 entities registered in secretive locations such as the British Virgin Islands (BVI).

January 5, 2017 - Credit Suisse names Cavalli as head of Singapore business
Credit Suisse has made high level appointments in Singapore that includes Benjamin Cavalli as the bank’s new Singapore CEO along with Tan Kuan Ern as the Head of Singapore Coverage, Investment Banking and Capital Markets and Jacky Ang as Branch Manager in Singapore.

January 2, 2017 - After FATCA pact signing, increased focus on possible tax evaders
Taiwan and the United States signed an agreement on the Foreign Account Tax Compliance Act (FATCA) on Dec. 22 that will make it easier to go after "non-cooperative" clients, the Financial Supervisory Commission (FSC) announced Tuesday.

December 22, 2016 - When the scrutiny gets tough, the rich get more sophisticated
There are 101 jurisdictions committed to the OECD automatic exchange, but the U.S. has yet to join, creating a hole in the global effort. The U.S. enacted its Foreign Account Tax Compliance Act in 2010, which provides for stiff penalties on foreign banks that fail to disclose accounts of U.S. taxpayers. But U.S. information sharing is not reciprocal -- stirring criticism from transparency advocates.

December 2, 2016 - Asia's wealth industry booting out clients in costly clean-up
The urgency increased with announcements that Switzerland and Singapore were conducting criminal investigations into billions of dollars allegedly misappropriated by Malaysian state investment fund 1Malaysia Development Berhad.

November 16, 2016 - HK plays key role in helping Chinese tycoons invest globally
Wealthy Chinese have shown increasing interest in overseas investment in recent years but that represents a very small portion of their wealth. It’s estimated that offshore investment will account for 9.4 percent of their portfolio in the future from the current 4.8 percent.

November 7, 2016 - How HK can help trace corrupt Chinese money stashed overseas
However, as more and more corrupt mainland officials have moved their money to “safer” places such as the US, Canada, Australia or even safe havens like Panama, it has become increasingly difficult for mainland authorities to trace the money.

November 3, 2016 - Eastern targets
As rivals pull back from Asia, Credit Suisse chief executive Tidjane Thiam is pushing ahead in the hope of managing the fortunes of the region’s rich. But some say his goals are too optimistic.

Items 1 to 15 of 53>>>|

© 2024 Teig Lawrence, P.A. | Disclaimer
4770 Biscayne Boulevard, Suite 940, Miami, FL 33137
| Phone: 305.576.4242

Form 3520 Penalty Relief | IRS Penalty Relief - Contingency Fee | IRS Offshore Voluntary Disclosures | IRS Cryptocurrency Disclosures | IRS Tax Controversies | IRS Whistleblower Claims | FATCA - Foreign Accounts | | About Us | News | Resources