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Entries in Tax Evasion (18)

Wednesday
Apr052017

Martin Kenney: Put your own tax havens in order, America

The United States champions itself as a nation policing the rest of the world, preventing money laundering, tax evasion and foreign corrupt practices. Yet there is hypocrisy afoot.

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Thursday
Aug202015

Singapore private bankers and clients sweat loss of secrecy

Singapore will start automatically sharing information with foreign tax authorities from 2018 to comply with a 51-country agreement to fight tax evasion.

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Friday
Jun122015

SocGen Private Bank (Switzerland) pays $17 million penalty for hiding U.S. taxpayer accounts

The DOJ said this week that Société Générale Private Banking Suisse and another bank, Berner Kantonalbank AG, reached resolutions under the DOJ's Swiss Bank Program.

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Wednesday
May132015

We're serious: It's an exciting time for tax enforcement

Admittedly, we're surprised to write that headline several weeks after “tax day” in the United States. However, a common theme emerged during a recent World Bank Group program on tax evasion: there's currently an unprecedented level of enthusiasm, political will and momentum in support of combating global tax evasion and avoidance.

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Tuesday
May122015

Credit Suisse saga: Federal Reserve bars fugitive private bankers

The Federal Reserve Board said Monday it barred five former private bankers and senior managers of Credit Suisse AG from working in the banking industry.

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Friday
Apr102015

France imposes €1 billion bail on HSBC for criminal tax probe

HSBC said in a statement Thursday that French magistrates ordered a formal criminal investigation ("mise en examen") into HSBC’s Swiss Private Bank for alleged tax-related offenses.

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Friday
Apr102015

World Bank Program: Tax Evasion and Financing for Development -- Strengthening Global Action

Image courtesy of the World Bank GroupOn Friday April 17, the World Bank Group will host a program that discusses the importance of strengthening global action to reduce and deter tax evasion. You can attend the program in person by registering here, or stream the event online here.

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Tuesday
Mar312015

Swiss bank pays $211 million penalty under DOJ amnesty program

Lugano-based BSI SA on Monday became the first bank to use a DOJ amnesty program to resolve potential criminal offenses for helping U.S. taxpayers use secret accounts and offshore shell companies to evade taxes.

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Wednesday
Feb182015

Swiss prosecutors raid HSBC offices in money laundering probe

Prosecutors in Switzerland searched the offices of HSBC's private bank in Geneva Wednesday as part of an investigation into money laundering.

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Tuesday
Jun032014

More than 77,000 foreign banks will share tax info with IRS 

More than 77,000 foreign banks and other financial institutions agreed to share information about U.S. account holders with the Internal Revenue Service as part of a crackdown on offshore tax evasion, the Treasury Department said Monday.

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Tuesday
May202014

Credit Suisse fined $2.6 billion for helping tax cheats

Photo courtesy of Credit Suisse via YouTubeAfter a multi-year investigation into Credit Suisse's use of illegal offshore bank accounts, the DOJ Monday announced the bank's guilty plea and the largest-ever monetary penalty in a criminal tax case.

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Monday
Mar172014

Hewlett-Packard's latest FCPA disclosure (March 2014)

Here's the full FCPA disclosure from HP's Form 10-K filed with the SEC on March 11, 2014:

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