money laundering

In Europe 9th February 2015

Swiss leaks: HSBC under fire after admitting to have helped conceal $100 billion

MADRID | The Corner | After the biggest banking leak in history, British bank HSBC admitted on Sunday that its Swiss subsidiary systematically helped big fortunes dodge taxes and hide millions of dollars of assets. Switzerland and the whole industry are under the spotlight: long known for its banking secrecy, the country signed a fiscal transparency agreement with Brussels in 2004 which has proved insufficient. A new, enlarged version of the accord is being debated now and expected to be ready in 2018. But will it be enough? And what until then?

In Europe 7th February 2015

Gibraltar’s Dep PM: “No contraband or money laundering, only tourism”

BRUSSELS | By Jacobo de Regoyos | Reports several months ago claimed that smuggling and money laundering were on the rise in Gibraltar. In an exclusive interview with The Corner, Gibraltar´s Deputy Chief Minister, Joseph Garcia, makes an impassioned defence of the territory´s record, claiming that the measures in place to combat such problems are among the strongest in Europe. He also laments the deterioration of relations with the Spanish Government and calls for a reopening of diplomatic channels.

Companies 15th August 2012

Standard Chartered pays fine to save its New York business

For days, Standard Chartered executives had been negociating with multiple law-enforcement officials in New York in order to settle claims that it laundered $250 million for Iran. The final move came on Tuesday, when the british bank decided to open its wallet. The $340 million deal is huge, only beaten by the one reached by the Justice Department and the Manhattan district attorney over money laundering charges with ING bank…

World economy 19th March 2012

Europe toughens powers to grab higher share in crime loot

The European Commission wants new rules for more effective and widespread confiscation of funds and other property acquired through crime. An enhanced legal framework will increase member states’ ability to confiscate assets that have been transferred to third parties, it will make it easier to seize criminal assets even when the suspect has fled and will ensure that authorities can temporarily freeze assets that risk disappearing if no action is…