FATF: FinCEN announces FATF watchlist update: Laos, Nepal added, Philippines removed

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced two countries have been added to the Financial Action Task Force (FATF) watchlist, while another has been removed.

The FATF grey list identifies countries where increased financial monitoring is necessary to combat money laundering, terrorist financing, and nuclear weapons proliferation. FinCEN said Laos and Nepal have been added, while the Philippines have been removed, according to a press release Wednesday.

Laos and Nepal made a “high-level political commitment” to work with the FATF and the Asian Pacific Group on Money Laundering to strengthen the effectiveness of their anti-money laundering/countering the financing of terrorism (AML/CFT) regime, according to an FATF press release Friday.

26 April 2024

US: IRS Warns High-Net-Worth Individuals of Elaborate Schemes

The Internal Revenue Service has wrapped up its annual Dirty Dozen campaign, which it self-proclaims as “the worst of the worst” tax scams. The last few scams in the series leave a lot to be unpacked.

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20 February 2024

EU: Bahamas, Belize, Seychelles and Turks and Caicos Islands removed from the EU list of non-cooperative jurisdictions for tax purposes

Today, the Council removed Bahamas, Belize, Seychelles and Turks and Caicos Islands from the list of non-cooperative jurisdictions for tax purposes. With these updates, the EU list consists of the following

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31 July 2024

US: Kamala Harris Wants to Impose a National Wealth Tax

Vice President Kamala Harris is on record in support of a national wealth tax. In March, the Biden-Harris Administration released its official Fiscal Year 2025 budget proposal which calls for the

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25 April 2024

Carey Olsen advises Hipgnosis Songs Fund on proposed US$1.4 billion takeover

Press Release from Carey Olsen, Tuesday 23 April, 2024.  Carey Olsen’s corporate team in Guernsey is advising Hipgnosis Songs Fund Limited (“Hipgnosis”), a Guernsey-registered, GFSC-regulated

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