Search Results for: Estonian

DEUTSCHE Bank’s AMLO has told a European Parliament hearing – to the dismay of MEPs – that the German major had no evidence that it was involved in misconduct surrounding the Danske Bank Estonia money laundering scandal.

Stephan Wilken, head of anti-financial crime and Deutsche Bank’s group anti-money laundering officer, told the EP’s special committee on financial crimes, tax evasion and tax avoidance (TAX3) on Tuesday (Feb 4): “We have not identified any misconduct” in Danske case.…

DEUTSCHE Bank’s AMLO has told a European Parliament hearing – to the dismay of MEPs – that the German major had no evidence that it was involved in misconduct surrounding the Danske Bank Estonia money laundering scandal.

Stephan Wilken, head of anti-financial crime and Deutsche Bank’s group anti-money laundering officer, told the EP’s special committee on financial crimes, tax evasion and tax avoidance (TAX3) on Tuesday (Feb 4): “We have not identified any misconduct” in Danske case.…

It may not have been widely noticed internationally, but Dublin has become a key cog in the Russian economy’s financial system. That exposure – while profitable for the city’s accountants and lawyers – also risks becoming a liability due a lack of transparency over the source and use of funds.…

THE EUROPEAN Union (EU) must create a central agency to supervise banks and non-banking institutions to combat rising risks posed by money laundering, a European Parliament hearing that focuses especially on the threat posed by Russian dirty money, has been told.…

Estonia’s Versobank AS has announced the start of liquidation proceedings just days after the European Central Bank (ECB) withdrew its authorisation to operate as a credit institution. The Estonian Financial Supervision Authority (EFSA) submitted an official request on February 8 (2018) asking the ECB to pull the small Estonian bank’s license, which it did on March 26, due to “serious and long-lasting breaches of legal requirements, particularly concerning the prevention of money laundering and combating the financing of terrorism,” said an EFSA statement.…

THE EUROPEAN Union (EU) Council of Ministers today (December 5) adopted a money laundering blacklist, bringing widespread criticism because the listing – designed to prevent tax fraud and evasion – only covers countries outside the 28-nation bloc. Despite the European Commission screening 92 jurisdictions worldwide, the final list of non-cooperative jurisdictions in taxation matters only contains 17 jurisdictions: American Samoa, Bahrain, Barbados, Grenada, Guam (another US territory), South Korea, Macau (a China special administrative region), the Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad & Tobago, Tunisia and the United Arab Emirates (UAE).…

French prosecutors have accused Denmark’s leading bank Danske Bank of playing an organised role in a Russian fraud and money laundering scam. Prosecutors, from the Paris High Court, allege that an Estonian branch of the bank helped to move EUR15 million “from organised fraud and tax evasion” in Russia into France and other European Union (EU) jurisdictions between 2008 and 2011.…

CONFECTIONARY manufacturers in India are having to grapple with their products and ingredients attracting a wide range of tax rates under the country’s new goods and services tax (GST), which started to be levied from July 1.

India’s GST Council, a body representing the central and state governments, has been deciding which goods will be covered by the zero, 5%, 12%, 18% and 28% tax rates allowed under India’s GST legislation. …

NEXT Monday (June 12) will see a meeting of European Union (EU) agriculture ministers in Luxembourg to decide if negotiations can continue on the much-debated reform of the EU organic farming regulation ((EC) No. 1235/2008).

Adopted by the European Commission in March 2014, the reform proposals aim to remove obstacles to organic production by introducing certificates to cut operators’ costs, to avoid fraud and to regain consumer confidence by restricting organic products containing forbidden substances.…

The Estonian parliament has approved introducing a special tax on sales sugary drinks that includes dairy products, causing concern within the Baltic state’s food and dairy industry.
Taxable beverages mentioned in the law now include sweet drinkable yogurt, kefir (fermented milk drinks), as well as sweetened soy milk.…