A report by the High Level Panel on Illicit Financial Flows published in February 2015 revealed that Africa looses up to $ 50 billion a year due to fraudulent schemes among governments and multinational companies. This amount doubles the annual ... →
Deutsche Bank and Barclays PLC have once again made the news. Both financial institutions have been accused of aiding more than a dozen hedge funds to skirt an estimated $6billion in taxes in the US. These findings have been publicized ... →
UBS has settled with the German tax authorities to pay a 300 million euro fine, due to the suspicion they were aiding and abetting tax evasion. The prosecution has been investigating the Swiss bank since 2012. The investigation was instigated ... →
The Swiss banking giant, UBS, simply cannot escape the allegations of money laundering. In July 2014 Facing Finance reported on the illegal business practices of the Belgian UBS branch and the opening of a formal impeachment process of Marcel Brühwiler. ... →
After the Swiss Bank Credit Suisse was convicted of tax fraud and fined a penalty of 2.6 Billion dollars in the United States, a second Swiss bank is now in the sights of the authorities.
The Brussels public prosecutor’s office ... →