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What Russian money sloshing back to Cyprus teaches us about tax havens
A year after a controversial bail-out put an end to Cyprus’s financial crisis, it is still a major offshore banking center for Russian cash—which is just the way the country’s leaders want it. Cyprus...
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Why nobody lives in so many of New York’s most expensive apartments
With millions to stash and stability on their minds, the world’s wealthy have been flocking to New York City to buy up luxury apartments—but not, necessarily, to live in them. Apartments in some of New...
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Six ways America is hurting itself with its corporate secrecy obsession
The US is one of the easiest places in the world for criminals to hide behind a shell company, but despite pressure from anti-corruption activists that require companies to identify their true owners,...
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No, Ireland isn’t shutting down its tax avoidance strategy
There are lots of headlines out of Dublin today about the end of the “double Irish,” a notorious tax break used by multinational companies to avoid paying government levies around the world. Don’t be...
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Can Putin persuade Russians to move money out of their favorite Mediterranean...
In his state-of-the-nation address to lawmakers last week, Russian president Vladimir Putin had some distinctly unfriendly words for who he called “our American friends.” The US is always meddling in...
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A design flaw in Obama’s new Panama Papers rule could help shell companies...
Experts are baffled by the Obama administration’s new rules to fight money laundering, which appear to create a glaring new loophole for the bad actors the rules are intended to target. Last week, the...
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US lawmakers’ new tactic to finally crack down on secretive shell companies:...
Today US lawmakers will try once more to bring their country in line with the rest of the Western world on an age-old problem: money-laundering. Five members of Congress from both parties will announce...
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Why Iran got away with using a $500 mln New York skyscraper as a secret slush...
The skyscraper in the heart of Manhattan had been violating US sanctions since 1995. Its tenants—who have included Juicy Couture, Godiva Chocolate, and Starwood Hotels—have been paying millions of...
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A new corruption probe linked to Trump is a scathing indictment of the US...
As US president Donald Trump whirled around Poland on July 6, a story in the Financial Times (paywall) turned up an interesting new development relating to his real-estate empire. Felix Sater, a Trump...
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How the family of Vladimir Putin’s US-sanctioned ally uses British companies...
The journey of a member of the global super-rich often traverses three main stages, as he (these are pretty much all men) moves from a position of power at home to a life of wealth and luxury abroad....
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Big-name US senators are joining the push to crack down on...
Momentum seems to be growing in the bipartisan push to tackle secretive US shell companies. Since bills were introduced in late June in both the House and the Senate, the legislative movement has...
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India’s following up on demonetisation by targeting shell companies, but it...
On Aug. 07, the Securities and Exchange Board of India (SEBI) issued an extraordinary direction to the stock exchanges, effectively freezing trade in 331 suspected shell companies. The trading of...
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How tax havens like Delaware help traffickers sell children for sex
Backpage.com is the world’s second-biggest classified advertising website. It is also the world’s “top online brothel” and a hotbed of human trafficking, according to US law enforcement. In the US, the...
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The peculiarities of the US financial system make it ideal for money laundering
The lifeblood of criminal enterprises all over the world is revenue. Money fuels terrorists, transnational criminal organizations, and crooked kleptocrats. These criminals need to launder their...
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Zuckerberg quietly revealed a hole in Facebook’s new defenses against Russia:...
When Mark Zuckerberg told US senators yesterday (April 10) that Facebook is in an “arms race” against Russian trolls seeking to manipulate its users, his comment made global headlines. One of the steps...
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4,000 toddlers are listed as UK business owners
Last week, crypto-watchers noticed something strange: According to the UK registry of companies, Russian tech entrepreneur Pavel Durov appeared to have founded a new company, named it after his...
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The Trumps dodged half a billion dollars in taxes, the New York Times reports
In an exhaustive deep dive into the finances of Donald Trump, and his real estate mogul father Fred, the New York Times details a pattern of tax avoidance and parental gifts that created the US...
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Yes, the tax man can pursue the hundreds of millions in taxes the Trumps...
The New York State tax authority is “vigorously pursuing” an investigation into decades of alleged tax fraud by the Trump family, after the New York Times reported that Donald Trump and his parents...
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Welcome to the world’s biggest tax haven: The United States of America
Late one fall night in 2008, Christine Nelson was dropped outside a Houston strip mall by the man who had been trafficking her for a…
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A US senator’s angry quest to crack down on dirty money
Senator Sheldon Whitehouse is not a man who messes around. The former prosecutor from Rhode Island has a gruff tone, jarringly direct speaking style, and…
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