Malta’s Sandbox Test of Cryptocurrency Control

Malta’s regulators are studying the possibility of regulating cryptocurrencies, early this year at the Centre for European Policy Studies (“CEPS”) Ideas Lab of 23-24th February, 2017 in Brussels.

HSBC announce more cuts to its investment banking sector

After reports of two Senior Executives leaving HSBC, the bank is believed to be restructuring its current workforce, meaning that more senior positions will potentially be removed from its investment banking unit. The reason given was to reduce costs, ultimately making the business more supple.

Indonesia plans a "tax amnesty" for overseas bank account owners

Indonesia’s taxation office seeks to provide a tax amnesty policy to be implemented during 2016 in order to repatriate €136 billion from funds situated in overseas banks.

India requests Switzerlands assistance to help combat tax evasion

India has been offered legal support from Switzerland regarding the case of a high-profiled married couple that is been suspected of evading taxes while hiding money within a HSBC bank account in Geneva.

US authorities increase scrutiny on Swiss banks

Swiss Banks sign amnesty agreements disclosing tactics, providing US prosecutors with valuable information.

German state plan to use stolen data against Swiss Banks

German authorities are planning to utilise stolen banking data in order to target around 40 more Swiss banks for assisting people to evade their tax obligations.

Barclays Bank continues de-risking strategy actions

Barclays Bank has announced it will be continuing its retreat from the overseas banking business by discontinuing its banking services for non-residents in the Seychelles.

Number of Swiss banks set to decline over next few years

According to the SBA’s (Swiss Bankers Association) annual report on the sector, the number of Swiss banks has declined to 275 at the end of 2014.

US: IRS requests data from Belize Banks

The Bank of America and Citibank are being forced by a court order obtained by the US government, to disclose information about all US taxpayers who hold offshore accounts at BBIL (Belize Bank International Limited) or BBL (Belize Bank Limited).