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Elizabeth K. Spahn Editor Emeritus 

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Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

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FCPA Blog Daily News

Entries in British Virgin Islands (16)

Wednesday
Jan302019

The EU’s blacklisting threat against smaller territories is undemocratic and brutal 

Repetition is to be avoided in most walks of life. But where the offshore world is concerned, it appears to be the fulcrum around which the ill-informed are led by the unknowing. In this instance, it is the European Union’s turn to go on the offensive, with the bloc effectively threatening sanctions and retribution against the overseas territories, including my adopted home and professional base, the British Virgin Islands (BVI).

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Tuesday
Oct022018

Martin Kenney: Crooks are (predictably) avoiding open company registers 

I was bemused when I read that the head of the UK’s National Crime Agency (NCA), Donald Toon, had bitterly complained about the tardiness of the Cayman Islands authorities in responding to information requests about the identities of ultimate beneficial owners (UBO) of Cayman companies.

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Monday
Sep242018

Danske Bank chief departs amid ‘biggest scandal’ in Europe

Former Danske Bank CEO Thomas BorgenThe CEO of Denmark's biggest bank resigned last week after an internal investigation found $235 billion in suspicious transactions at the bank's branch in Estonia.

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Monday
May072018

Martin Kenney: Open company UBO registers are not the panacea to financial crime

Predictably, the NGO "transparency" brigade has once again raised its guns and placed its cross-hairs over its preferred target: the offshore service providers in the British Overseas Territories, particularly those in the Caribbean. Only this time, they appear to have coerced and cajoled the support of a split, and apparently hesitant, UK government.

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Thursday
Feb092017

Martin Kenney: Confiscating the proceeds of crime will make the Caribbean safer

One of the more interesting developments I discovered during the holiday period was a proposal from the Barbadian Chief Justice Minister, Sir Marston Gibson, to set up a regional asset recovery group in the Caribbean.

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Thursday
Dec012016

Martin Kenney: Let's have an honest discussion about the BVI

Transparency International’s Max Heywood recently posted an article on TI's website asking if the British Virgin Islands -- from where I operate a cross-border fraud and asset recovery law firm -- has “cleaned up” since the publication of the so-called Panama Papers.

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Tuesday
Jun212016

Analogic pays $14.8 million to resolve FCPA offenses

Massachusetts-based medical technology company Analogic Corporation and a foreign subsidiary and that unit's former CFO settled FCPA violations related to $20 million in improper payments in Russia and other countries.

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Thursday
May122016

Martin Kenney on the Panama Papers: BVI has more corporate transparency than the U.S., UK

Martin Kenney appears on CBC News on April 4In the wake of the Panama Papers revelations, the U.S. has (belatedly) announced that it will tighten checks on anonymous companies. The rules, which include requiring financial institutions to find out and keep records on the real owners behind the companies that use their services, aim to help U.S. law enforcement pierce the layers of anonymous shell companies that people can use to disguise their financial dealings around the world.

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Monday
Apr042016

2.6 terabyte leak: Panama Papers expose global abuse of anonymous shell companies 

Documents leaked Sunday from a Panama law firm showed alleged use of anonymous shell companies by world leaders, politicians and others to shield billions of dollars from public view.

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Tuesday
Mar292016

Martin Kenney: Hold on. Not everyone in the City of London (or in BVI) is bent

I can’t help thinking that Graham Vanbergen was trying to be deliberately provocative when he wrote this article on the City of London being a tax haven for the mega wealthy.

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Monday
Dec292014

Bank Leumi fined $400 million, bans former U.S. compliance chief from compliance role

Israel's Bank Leumi will pay $270 million to resolve federal charges and $130 million to settle New York regulators' allegations that it helped U.S. taxpayers hide assets and income in unreported accounts in Israel and around the world.

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Tuesday
Feb182014

Former PetroTiger co-chief pleads guilty

Image courtesy of PTS, a PetroTiger companyThe former co-chief executive officer of oil and gas services company PetroTiger Ltd. pleaded guilty Tuesday for bribing an official at Ecopetrol SA, Colombia’s state-controlled oil company, and defrauding PetroTiger by taking kickbacks.

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