Italian tax police demand details of 10,000 Swiss accounts
Italy’s tax police have asked Switzerland’s Federal Tax Administration for information regarding €6.7bn (£5.9bn, $7.7bn) that has been deposited in the country by Italian citizens.
Switzerland
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Crocodile Dundee tax fraudster to fight extradition
The Jerseyman allegedly at the centre of Australia’s biggest ever tax evasion scandal, that included Crocodile Dundee star Paul Hogan among its victims, is fighting attempts to extradite him from Italy to face charges down under.
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Luxembourg regulator fines Rothschild over 1MDB failings
Swiss private bank Edmond de Rothschild has been fined nearly €9m (£7.9m, $10m) by Luxembourg’s financial regulator for its handling of funds reportedly linked to beleaguered sovereign wealth fund 1Malaysia Development Berhad.
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Singapore, HK to outpace Switzerland for offshore wealth
Singapore and Hong Kong remain the fastest-growing offshore centres and are set to outpace Switzerland when it comes to attracting wealth from abroad, a new report predicts.
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Tax scam mastermind who duped Crocodile Dundee star arrested
The man at the centre of Australia’s biggest ever tax evasion scandal that ensnared Crocodile Dundee actor Paul Hogan is understood to have been arrested in Italy.
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Expat hotspots top global competitive ranking
Hong Kong and Singapore ranked first and third as the most competitive countries in the world, with Switzerland coming in second, according to the 2017 IMD World Competitiveness Ranking.
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Hong Kong-Swiss scheme to join fund passport club
A Switzerland-Hong Kong fund recognition scheme is looking to gain traction in Asia, following closer links between the two countries in recent months.
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Swiss ‘spied’ on German officials investigating tax dodgers
A Swiss national arrested in Frankfurt last week for spying on German tax officials allegedly recruited informants inside the country’s largest finance ministry to gather information on tax investigators.
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Best and worst expat countries for high pay
The best places to earn a decent annual wage without having to work around the clock are in western Europe. Eastern Europe fared badly but Mexico ranked bottom, a recent report by ExpatFinder found.
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Swiss regulator keeps up pressure on UBS in 1MDB investigation
Switzerland’s financial regulator is continuing its money laundering investigation into UBS Group and three other private banks in relation to Malaysian sovereign wealth fund 1MDB.
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Swiss court overturns ban on releasing UBS client data to France
Switzerland’s Supreme Court has ruled that the government can comply with a French request for information about a UBS client’s bank account, despite the request probably being founded on stolen data.
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Ex-Goldman Sachs banker banned in 1MDB scandal
Former Goldman Sachs director Tim Leissner has been banned from working in Singapore’s financial services industry for 10 years for his involvement with stricken Malaysian sovereign wealth fund 1MDB, with further prohibition orders expected.