Micro News

Micro News

The US government have announced the marking of a resolution suggesting that bipartisan legislation may soon be introduced bringing auction houses and art dealers and warehouses under the Banking Secrecy Act's anti-money laundering controls, placing them under strict ‘know your customer’ reporting requirements…


Swiss-based insurance company, Zurich has agreed to pay just over USD $5 million to the US Department of Justice for assisting US citizens evade taxes via the purchase of unit-linked insurance policies for a 6-year period between 2007 and 2013. The courts heard how the company (which is an extremely…


A number of US banks have received summonses ordering them to disclose information about all bank accounts owned or managed by Finnish residents. The John Doe orders, as they’ve been coined due to referring to unknown individuals, that were exposed for obtaining by the US Internal Revenue Service (IRS)…


The Swiss Federal Supreme Court has held in Decision 6B_804/2018 in a case whereby the chairman of an asset management company in Switzerland acted unlawfully in releasing client information to the US authorities, even though he was acting under the terms of a non-prosecution agreement with the US Department…


A US State Department report have found weaknesses in the Turkish-occupied North of Cyprus’ Casino trade and the offshore banking sector. The report stated that this area remains a significant cause for concern for money laundering and terrorist financing activity. According to the US State Department’s…


Mr Jack Ma, Billionaire and Alibaba Group Founder has praised the hard-working approach in their Chinese branches as being a huge blessing for young workers. The overtime work culture at lots of Shanghai-based tech start-ups are typically 10-12 hour working days. The e-commerce mogul gave his somewhat…


London based economists have released a somewhat worrying report of the state of the private equity sector in the form of an investment bubble. Economic bubbles normally arise when an item such as shares or property are traded at a price or price range that strongly exceeds its worth or value. A bubble…


According to recent sources and several documents leaked from Mexico City, the President of Venezuela Mr Nicolas Maduro has been attempting to evade US oil sanctions by using Russian state energy giant Rosneft to help him to send the country illicit profits from Venezuelan oil sales. The US hope the…


A Russian refugee case has been setting precedents in the UK after Ms Elena Vasilyeva obtained permission to apply for a divorce settlement in UK courts using Section 13 of the Matrimonial and Family Proceedings Act 1984, despite the fact that her and her husband are both Russian. They spent most of…



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