Managers of Wealth Offshore

BVI hires second attorney to stay off EU’s blacklist

In other words, proof that an offshore company is paying taxes in the BVI because it largely does its work and earns its profits in/from the BVI.

Global Forum publishes compliance ratings on tax transparency for further seven jurisdictions

These reports assess jurisdictions against the updated standard which incorporates beneficial ownership information of all relevant legal entities and arrangements, in line with the definition used by the Financial Action Task Force Recommendations.

The new ‘McMafia’ law will go some way to tackling corruption, but Brexit plans could make it even worse

You want money laundering? You got it.

Basel AML Index reveals slow progress in combating money laundering

The findings tie into recent high-profile probes involving countries generally considered low-risk.

EU mulls blacklisting its own Member States

Lawmakers and campaigners questioned whether countries like Luxembourg, Malta, Ireland or the Netherlands should be considered tax havens due to their tax rules.

BVI to take ‘Goldilocks’ approach for regulating crypto assets

According to Cryptobriefing, over the first six months of 2018 the BVI saw USD78.5 billion of trading volume in crypto assets

Gov't Pledges to Support Companies Affected by New Offshore Regulations

The institute also pointed out the bill is still waiting to be discussed and approved by the Legislative Assembly

Cayman, UK resume crime-fighting cooperation

The agreement does not affect the threat that the British government may impose public beneficial ownership registers in the overseas territories through an order in council, if they have not been implemented by 2020.

New Ordinance On Electronic Agent Use In Guernsey

The purpose of the Ordinance is to provide certainty regarding the use of electronic agents in contract formation, execution, performance and termination under Guernsey law.

Global Financial Institutions Fined $26 Billion for AML, Sanctions & KYC Non-Compliance Since 2008 Financial Crisis

Over the past ten years, regulators across the US, Europe, APAC and the Middle East have levied nearly $26 billion dollars in financial penalties against financial institutions for AML/KYC and sanctions-related violations.

GFSC announces two-year licence fee freeze

Those fees represent the Commission’s principal method of funding its operational costs including any capital expenditure.

Bank fine for breach of probate rules underlines importance of following procedure

These cases are rare, but they do underline the importance of obtaining the necessary legal authorisation before dealing with the assets of a deceased person.

HSBC to face calls to 'quit Malta' as MEPs threaten campaign against UK's biggest lender

Malta’s financial services authority, the MFSA, has been under pressure from Brussels in recent months after a European Banking Authority report found “general and systematic shortcomings” in how Malta applies money-laundering rules.

BVI hires $400,000 lawyer to avoid EU’s blacklist

With only three months remaining, Cabinet decided to waive the tendering process that was required to contract Furness, local media outlet BVI News reports.

Money laundering probe into Maldives president yet to start

The president has been dogged by graft allegations since he took office.

IMF Publishes Fiscal Transparency Evaluation for Malta

The report recognizes several key strengths of fiscal transparency practices in Malta.

Bahamas 'Stands Out' As Major Ifc

The minister said the Government is concentrating on legislating and managing the risks posed by FinTech (financial technology), while also harnessing its benefits, and legislating, regulating and defending against systemic cyber risk and cryptocurrency i

Regulation, Risk & Compliance