|W.I.L. Home Page||Offshore News Digest Home|
DOES BUSH BACK MORE CIVIL FORFEITURE?
WASHINGTON. The new head of the US Customs Service and IRS criminal investigations says he's going after the funds of lawyers, bankers and accountants. US money police have grabbed nearly $10 billion.More on this story here.
I.R.S. MISPLACES ALMOST A BILLION
The check was not in the mail! 40,000 federal tax returns and payments involving $810 million were either lost or destroyed.More on this story here.
EUROPEANS HOARD CASH
Many Europeans keep their money unbanked. A third of the 333 billion euro (£210 billion) cash circulating in Europe is hoarded to avoid taxes.More on this story here.
F.A.T.F. BLACKLIST DWINDLES
We have reported much about the OECD's Financial Action Task Force (FATF) blacklist issued in June 2000 accusing 15 nations of tolerating criminal cash. As of early this week only RUSSIA, the PHILIPPINES and NAURU remained on the list.More on this story here.
And two days ago the Pacific island of NAURU, said it too has a new anti-money laundering law in place.More on this story here.
F.A.T.F. “TOOTHLESS POODLE”
A leading advocate of offshore financial freedom claims that in the area of Internet gambling, now a booming $3 billion a year business, FATF is as ineffective as a “toothless poodle”.More on this story here.
UNSUNG PRIVACY HERO
George Orwell’s classic novel 1984 depicts a world in which individuals have no privacy, freedom or power. Phil Zimmermann’s PGP encryption helped thwart those horrors.More on this story here.
FLOATING TAX HAVEN?
Come 2002, the world's first cruise ship condo hits the water. European tax collectors think it's really a tax dodge.More on this story here.
COOK ISLAND DISSENTER
RAROTONGA, C.I. Politician makes an angry attack on expatriate business people and foreign investors.More on this story here.
NAURU’S NEW HAVEN ROLE
It may look idyllic, but what will 300 Afghans make of Nauru, an offshore haven speck in the Pacific Ocean?More on this story here.
HUNGARY ENDS ANONYMOUS BANK ACCOUNTS
BUDAPEST. Hungary was added to the FATF dirty money laundering blacklist last June, so now it bans its version of the dying Austrian sparbuch.More on this story here.
EURO LAUNCHES ALLEGED CRIME WAVE
LONDON. Some say the new euro currency carries risk of money laundering on a huge scale.More on this story here.
BLACK SHEEP BEATS BANK
WILMINGTON, Delaware. Could you be the beneficiary of a $300 million trust and not even know it? It is possible.More on this story here.
GET MORE CASH FROM OLD TRUSTS
If you are the income beneficiary of a trust and need more spending money, read this. Then call your trustee and ask for a bigger slice.More on this story here.
IRISH MILLIONAIRE WANTS RICH GAMBLERS
One of Ireland's richest and most elusive men launches an Internet sports betting service aimed at the richest gamblers.More on this story here and here.
FINANCIAL ACTION TASK FORCE HYPOCRISY
PARIS. The president of FATF, Regina Ip of Hong Kong, tells her fellow cash cops how vigilant her own government is in fighting money laundering. Meanwhile, Hong Kong tax evasion is UP 69% since 1995.More on this story here and here.
FATF SAYS “KILL DUE PROCESS”
As a prelude to police forfeiture, FATF demands all nations reverse the burden of proof, forcing accused “money launderers” to prove assets are clean. FATF wants laws to reveal true owners of all IBCs and trusts.More on this story here.
E.U. PARLIAMENT KNOCKS ECHELON
The European Parliament says Echelon, the US global electronic surveillance, does exist and it breaches human rights. (Duh!)More on this story here.
CASH I.D. SURVEILLANCE CHIP
Hitachi develops a chip to be woven into paper money to expose counterfeit cash. It also can track your cash movements.More on this story here and here.
MALTA: BEST FOR RESIDENCE & BUSINESS
Standard and Poor's and the International Monetary Fund (IMF) give MALTA's economy high marks.More on this story here.
Discover why Malta is the Mediterranean's best offshore address; see the new Henley & Partners Malta web site. Learn how you can easily establish low-tax residence.More on this story here.
LIVE OFFSHORE -- SWAP HOMES!
Want to move to a tax haven? Try out living in a new offshore country by first swapping homes. Find all about it here.
CAPITALISM'S BEST LAW?
Very interesting estimate of why English common law promotes capitalism's success better than does civil law.More on this story here.
U.S. MALPRACTICE INSURANCE COSTS ZOOM
Driven by law suits and jury awards, US medical malpractice insurance premiums are the highest rate since the mid-1980's.More on this story here.
DANES CHARGE E.U. DESTROYS LIBERTY
COPENHAGEN. Three Danish experts says politicians are wrongly surrendering sovereignty to the EU.More on this story here.
LATEST F.A.T.F. BLACKLIST STATUS
Who's on and who's off the latest FATF anti-dirty money laundering list as of last week's FATF meeting.More on this story here.
PANAMA NOW A LEADING HAVEN
An experienced offshore professional explains why PANAMA is moving to the head of the class as world tax haven.More on this story here.
BELIZE MOVES UP
A special report on the Central American haven that is attracting lots of cash, companies, retirees and second citizens.More on this story here.
OFFSHORE BANKING REVEALED
A special report on offshore banking; its history, facts, and what it can mean to you.More on this story here.
PRIVACY ALSO UNDER ATTACK
Opposition to government surveillance technology faces a severe test in wake of terrorist attacks.More on this story here.
FEDS PUSH CARNIVORE AFTER ATTACK
Just hours after the WTC disaster federal police increase Internet surveillance and ISPs comply with FBI requests.More on this story here.
DRUG WAR KILLS PRIVACY
US conservatives are having second thoughts as anti-drug police state tactics destroy privacy & freedom.More on this story here.
OFFSHORE PRIVACY PRIMER
LowTaxNews provides a useful checklist of offshore privacy issues for your review.More on this story here.
REASONABLE U.S. MONEY LAUNDERING RULES?
WASHINGTON. After a review of the US government's largely failed anti-money laundering activities, the Bush administration may allow banks to file fewer reports on "suspicious" cash transfers.More on this story here.
EU OFFICIAL SAYS REDISTRIBUTE WORLD WEALTH
BRUSSELS. Rich nations must give their wealth to the poor nations to avert terrorism, says former Tory MP and Hong Kong governor.More on this story here.
PRECIOUS METALS INVESTMENTS BURIED
NEW YORK CITY. Buried under the World Trade Center rubble is gold worth $110 million and silver valued at $120 million.More on this story here.
U.S. EXPATS IN BRITAIN HURT BY TAX TREATY
The new US-UK tax treaty allows ex-Americans to be hit by the IRS based on past citizenship.More on this story here.
TERRORISM EXCUSE MAY DESTROY FINANCIAL PRIVACY
Government will play on emotions to expand financial controls, curb what remains of financial privacy.More on this story here.
ANTI-CRYPTO WAR BEGINS
US politicians may try to ban communications-scrambling software that supposedly frustrates police wiretaps and US intelligence agencies.More on this story here.
But “The 2000 Wiretap Report” from the Administrative Office of the US Courts monitored wiretap operations during 2000 and found not even one investigation thwarted by the use of encryption technology.More on this story here.
EXPERTS RALLY TO SUPPORT ENCRYPTION
Reports linking bin Laden to crypto cause privacy experts to assume a tough defensive posture.More on this story here.
HAVENS ALLEGEDLY INVOLVED IN BIN LADEN CASH
This week wild rumors circulated alleging links between various offshore tax and asset haven nations and the terrorist network of Osama bin Laden, the prime suspect in the terrorist attacks on the US, who supposedly used bank accounts and companies in haven countries to finance his activities. They have so far proven false.
PANAMA. Pres. Mireya Moscoso acted on news reports that bin Laden used an offshore company with headquarters here. Our sources tell us investigation showed the reports were wrong.More on this story here and here.
CARIBBEAN. A French report alleged that bin Laden had financial connections in the Netherlands Antilles, Curacao and The Bahamas.More on this story here.
In the Dominican Republic, Puerto Rico, the US Virgin Islands, St. Maarten and the Cayman Islands foreigners were detained in connection with the attacks.More on this story here.
The CAYMAN ISLANDS is a major focus area for investigation of possible bin Laden financial activities.More on this story here.
BARBADOS says it is already feeling a harmful economic impact resulting from the American terror attacks.More on this story here.
The government of CYPRUS denied charges the island was used as a financial conduit by bin Laden.More on this story here.
GOVERNMENT DEMANDS VAST NEW POWERS
The Bush administration asks for more power to eavesdrop on domestic phone calls, the Internet and voice mail even without a court order.More on this story here.
Proposed legislation provides expanded electronic surveillance, detention of suspects and deportation of immigrants, makes easier subpoenas, search warrants and seizure of assets.More on this story here.
Income tax information privacy restrictions may be waived.More on this story here.
Encryption may have been used by terrorists, so encryption may be curbed.More on this story here.
Congress may consider requiring all Americans to carry electronic "identification cards." Americans may resist.More on this story here.
A NEW KIND OF NATION?
Where electronic identification may become the norm, immigrants may be tracked and airspace over cities like New York and Washington may be off limits to all civilian aircraft.More on this story here.
|Previous||News Digest Index||Next|
|Back to top|