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Latest news related to Anti-Money Laundering.

International tax consultant Dr Ikramul Haq on Monday said government’s decision to approve the SECP proposal on revamping the Capital Gains Tax allowing investors to inject money without declaring the source of income can facilitate money laundering. Talking to Dr. Murtaza Mughal, President of the Pakistan Economy Watch (PEW), he...
On the one hand, the inter-governmental Financial Action Task Force (FATF) has declared that countries whose anti-money laundering bodies refuse to exchange information with their counterparts will end up on a black list. On the other, the Egmont Group, an informal group of 127 financial intelligence units (FIUs) from all...
Documents released under freedom of information reveal that the Tax Office and other law enforcement agencies participating in Project Wickenby, an inter-agency taskforce targeting offshore tax evasion, have been quietly developing a comprehensive raft of new measures to combat abuse of ''secrecy havens'' - overseas countries with secretive tax...
Capital of dubious origin goes primarily to Latvia, Cyprus, Great Britain, Switzerland, France and Hong Kong. Russia is developing interaction with these countries to cut short illegal operations, he said. The number of foreign property acquisitions with Russian money has also grown dramatically in recent years, he said. “Moreover, frequently...
Somalis and Somali-Americans in Minneapolis, Minnesota are struggling to send money to their families now that the small, ethnic-based, money-remittance firms they relied on are no longer operating. Banks are no longer willing to process their transactions;  they worry that such transactions involving “hawala” transfer agents, commonly known as...
The Vatican has rewritten its 2010 anti-money laundering law after European inspectors found that it didn’t fully meet their tough standards to combat the financing of terrorism. The new law, a copy of which was obtained Friday by The Associated Press, requires the Vatican to create a list of terror...