Micro News

Micro News

Bank of Cyprus Chairman Josef Ackermann has stepped down as CEO; with newly appointed John Patrick Hourcian taking the departed place. He made a speech stating that the change in leadership at the bank would not slow the lenders momentum in the coming months. Last week, the bank declared a €95m net…


Accountants and service providers in the UK have been reminded to evaluate their internal AML procedures after the HMRC have been sending large penalties to non-compliant money laundering regulating estate agents since the start of last month. Following a week-long money laundering clampdown, the HMRC…


A recent HR survey conducted by recruitment consultancy Egon Zehnder has found a huge 8 in 10 of Singapore's Chief Executive Officers reportedly find it difficult to source qualified finance professionals in the city-state. (8 in 10 is approximately 83% of all individuals surveyed). The number rises…


Jurisdictions from across the globe are seeking to claim back collectively over a billion pounds GDP in unpaid tax, that was made public knowledge as a result of the Panama Papers, the huge leak of tax-haven financial records that was made public three years ago last week. The sum includes the equivalent…


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…



Cyprus:
+357 25 02 50 34
Singapore:
+65 315 91 676
Russia:
+7 812 458 46 22
Skype:
eltoma.0015