INCREASING CRIMINAL RISKS OF INTERMEDIARIES FOR CROSS-BORDER FINANCIAL CRIMES: Sept. 10 Webinar, by Bruce Zagaris, 12 PM EST GRC Educators

For more information on this webinar, please visit see: https://www.grceducators.com/Increasing-Criminal-Risks-of-Intermediaries-for-Cross-Border-Financial-Crimes. In the last couple of decades, the world has experienced growing prosecutions of intermediaries for cross-border financial crimes. A U.S. bank was convicted by a Spanish court for moving money in the Pinochet criminal investigation instead of freezing it. The U.S. and State of New York have brought criminal cases against banks for a variety of financial crimes, especially economic sanctions. The U.S. DOJ has had an Offshore Voluntary Disclosure Program for Swiss Banks. The UK Criminal Finance Act of 2017 makes foreign enablers liable for failing to prevent UK tax evasion. The OECD requires tax authorities enforcing the Common Reporting Standard to make intermediaries liable for circumventing the rules. An EU directive requires reporting of aggressive offshore cross-border tax schemes. Increasingly, law…

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