Micro News

Micro News

Singaporean financial institutions and China's business association recently announced a collaboration to help Chinese enterprises use Singapore as a launchpad for overseas expansion.  Last week, the United Overseas Bank Ltd, Singapore Exchange Ltd and the Chinese Chamber of International Commerce (CCOIC)…


Last week, cybersecurity firm CipherTrace reported the total losses from crime in the digital currency sector. There was a surge during the first quarter of the year totaling USD $1.3 billion in stolen funds, making up 70% of the level for the entire financial year of 2018. The value of losses caused…


FinCEN The US Treasury's (Financial Crimes Enforcement Network) has officially renewed provisional court orders that require US-based title insurance companies to identify the beneficial owners of companies that were involved in any all-cash purchases or transfers that ultimately went on to purchase…


Last week, a tax investigation reached crucial moments as German prosecutors seized documents and electronic devices from eight homes in Hamburg. The raid included German-based offices where 6 Asset Managers' for various companies conducted business, which authorities believe contributed towards a conspiracy…


Press reports say European Union finance ministers will remove a number of jurisdictions from the European Union's list of non-cooperative tax jurisdictions this week, reducing the blacklist down to 12 jurisdictions. The decision to remove the following three countries was announced after the ECOFIN…


The UK Jurisdiction Taskforce has propelled a public consultation on the status of crypto assets and contracts finding loopholes in contracts under English and Welsh legislation. The enquiry will be looking for input on the apparent legal uncertainties and vulnerabilities regarding crypto-assets that…


The England & Wales Court of Appeal have requested an Iranian bank to deliver uncensored records to court for the trial, despite the fact that the bank will be infringing upon Iranian criminal law by doing so. The proceedings were brought by the Mellat Bank against the UK government; asserting that sanctions…


Global AML campaigners have been speaking up about the results of a specialist report commissioned by the British Columbia government, which estimates that approximately CAD $5.3 billion of unlawful funds have been passed into the Canadian economy using sales of property in the region, the majority of…


FinCEN, the US Department of the Treasury's (Financial Crimes Enforcement Network) has distributed direction on how to approach convertible virtual currencies (CVCs), in light of enquiries raised by many authorities. Regulators, law enforcement and financial institutions have all reportedly been in touch…


Last week, movements further developed in the recent string of Swiss banking prosecutions. German Prosecutors from Baden-Württemberg have officially charged UBS Deutschland AG (subsidiary of UBS Europe SE) with assisting several of its German clients to circumvent the payment of taxes between 2001 to…



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