August 2, 2021

Credit Suisse, US ‘in tax probe payment talks’

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From Taipei Times Credit Suisse Group AG is in talks with the US Department of Justice (DOJ) to pay as much as US$1.6 billion to resolve an investigation into the bank’s role in helping US citizens evade taxes, a person familiar with the matter said on Monday. Prosecutors have also been pushing for Credit Suisse […]

On 2013, an extraordinary year for offshore tax enforcement

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By Dan Reeves From OffshoreAlert There was a time when offshore financial secrecy laws were ironclad and impenetrable. Some used those laws to engage in legitimate financial activities directed at investing, increasing wealth and facilitating international trade, but many others used them to hide the proceeds of illegal activities, disguise the ownership of personal assets […]

iNews Briefs

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Cayman bank refuses to process former FIFA VP’s payments According to a report by the UK’s Daily Telegraph, former FIFA Vice-President, Jack Warner, is alleged to have been personally paid approx. $1.2M by a firm controlled by a former Qatari football official, shortly after the decision to let the country host the 2022 World Cup. […]

UBS weighs operators’ exposure in a big Caribbean capacity-hike year

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From Seatrade Insider Although cruising’s 2014 capacity increase of 3% to 4% is below average, deployment changes are pushing up Caribbean market supply 12% to 13%, according to UBS Investment Research. The three major cruise operators are all adding Caribbean berths, and Royal Caribbean and Norwegian Cruise Line at a double-digit rate. Even privately owned […]