Changes to anti-money laundering rules in the USA
9 August 2018
In May 2018 the document named Customer Due Diligence Requirements for Financial Institutions (CDD Rules) came into force in the USA. It was developed by
News
Extension of list of countries for automatic exchange of tax information
8 August 2018
According to official website of Organisation for Economic Co-operation and Development (OECD) the list of countries that have activated bilateral relationships for automatic exchange was
Restrictions on servicing of shell companies in Cyprus banks
12 July 2018
On 14 June 2018 the Central Bank of Cyprus has sent a Circular Letter to all financial institutions of this jurisdiction with requirement to restrict
Restrictions of servicing of shell companies in Latvian banks
11 May 2018
On 26 April 2018 Seim of Latvia has approved an Amendment to Law on the Prevention of Money Laundering and Terrorism Financing in second reading
The United Kingdom to oblige its Overseas Territories to establish public registers of beneficial owners
9 May 2018
On 1 May 2018 the amendment to Sanctions and Anti-Money Laundering Bill was introduced in the Parliament of the United Kingdom. This amendment provides that
Latvia has included Russia in the list of countries for automatic exchange
25 April 2018
On 13 April 2018 Cabinet of Ministers of Latvia has amended Regulation No. 20 of 5 January 2016 that establishes Procedures by which a Financial
Changes in Hong Kong profits taxation system
10 April 2018
1 April 2018 the Inland Revenue (Amendment) Ordinance came into force in Hong Kong. The basic change is introduction of two tiered profits tax rate
Latvian banks to stop servicing shell companies’ accounts
30 March 2018
In the late March 2018 the financial authorities of Latvia have announced a dramatic change in their policy in respect of so called “shell companies”
Reitumu Banka has suspended services in US Dollars
16 March 2018
14.03.2018 an informational message that Euro will be the main operational currency of Latvian bank Reitumu Banka due to the difficulties of processing transactions in
ABLV Bank: recent events
2 March 2018
26.02.2018 an informational message that the bank’s management made a decision on self-liquidation was published on the official website of the Latvian bank ABLV Bank,