Managers of Wealth Offshore

German and French authorities raid Swiss banking majors

Last year Credit Suisse paid €150 million ($183.83 million) to German tax authorities to settle an inquiry over allegations the bank and its employees helped Germans dodge tax.

Lawyer warns Coutts AIG clients: this may be your only offer

Robert Morfee, a lawyer from Clarke Willmott who specialises in investment disputes and has been working with a number of clients who were invested in the AIG fund, has warned Coutts’ clients who are receiving offers that they should be mindful of

European tax probes are headache for Swiss banks

At the same time, German newspaper the Handelsblatt has reported that up to 7,000 Credit Suisse clients are being targeted by a separate tax evasion investigation in Germany.

UBS In Bordeaux Said To Have Been Raided In French Tax Probe

The charges were the first brought in the probe, which was opened in April after a preliminary inquiry by the French customs service into a February 2011 complaint by the Prudential Control Authority, France’s banking regulator.

Ex-SJP adviser wins Mail on Sunday libel case

A former St James’s Place adviser has been awarded “substantial damages” and legal costs after the Mail on Sunday newspaper alleged the adviser had stolen £5m from clients.

Credit Suisse German Clients Homes Raided by Tax Agents, HB Says

The investments averaged about 500,000 euros with individual cases of 12 million euros and more, the newspaper said.

HSBC To Apologize At Hearing On Money Laundering, Memo Shows

U.S. prosecutors may take criminal or civil enforcement measures involving the London-based bank amid an investigation into terrorist funding, HSBC said in February.

Credit Suisse exempted from German tax prosecution

The newspaper referred to so-called Bermuda products designed as insurance-style instruments to avoid tax.

Swiss HSBC account holders offered India amnesty, says official

India joins countries including the UK and the US in cracking down on rich people who haven’t disclosed offshore funds amid probes into money laundering and tax evasion.

Email cache shows depth of Whitehall fears over Barclays Libor submissions

In an email dated October 22, 2008, from Sir Jeremy Heywood, then principal private secretary to Gordon Brown, to Paul Tucker, then head of markets at the Bank of England, he asks why Barclays is paying “ABOVE Libor” to fund in the sterling mo

Mobile operators pressured for private client data

Representative Edward Markey on Monday released data from the companies showing more than 1.3 million requests for cell phone records last year.

US Senate panel plans HSBC money laundering hearing

The panel has been investigating HSBC for months as part of an effort by the Senate panel to probe shadowy money flows.

French holiday home owners may have little to fear from new tax changes

Recent changes to the French tax system announced by president Francois Hollande’s government may not be so serious for British and other owners of French properties, believes UK regulated specialist mortgage broker Offshoreonline.org.

Illicit wealth under corporate veil

The FDF, which is equivalent to Finance Ministry in Switzerland, has said in a report on international financial and tax matters for 2012 that the country is at the forefront of global efforts to tackle cross-border financial crime.

RBS fights to keep its Libor records secret

Royal Bank of Scotland is fighting a court order requiring it to co-operate with an international criminal investigation into allegations its staff fixed a key banking lending rate.

Financial fraud: When gatekeepers see no evil, hear no evil and speak no evil

Media’s ‘bad apple’ theory no longer works

France Set to Raise Taxes on Firms, Rich

The government said it would seek Parliament approval for €7.2 billion ($9.08 billion) in extra taxes this year.

HSBC Millionaire Client Fined for Swiss Bank Tax Evasion

He was convicted Wednesday of cheating the public revenue at Wood Green Crown Court.

FSA tells IFAs: don't leave clients in dark with DFM deals

The Financial Services Authority has told advisers they must make it clear to clients who manages their investments when outsourcing to a discretionary fund manager.

Ex-Lehman broker must pay $904,000 in bonus flap

A San Francisco-based broker must pay more than $904,000 to Lehman Brothers Holdings Inc, which has been aggressively clawing back bonus money that it paid to brokers before its demise in 2008.