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U.S. MAY CURB LIBERAL VISA PROGRAM
WASHINGTON. The State Department may curb a program that allows people from 29 countries to enter the US without visas.More on this story here.
CAYMANS SUED OVER POSSIBLE BANK BRIBE
GEORGETOWN, C.I. An offshore bank is suing the Cayman Islands government for the return of a mysterious $2.5 million (£1.72m) payment related to obtaining its banking license.More on this story here and here.
GRENADA SUSPENDS PASSPORT PROGRAM
ST. GEORGE’S. Grenada suspends its program allowing foreigners to buy quick economic citizenship, saying it was too risky after terrorist attacks in the US. BELIZE and NEVIS still have similar programs.More on this story here.
Grenada's prime minister say no evidence of terrorist cash there.More on this story here.
BAHAMAS FREEZES ALLEGED TERRORIST ACCOUNT
NASSAU. The government has frozen a $20 million account at a leading bank claiming it is linked to a suspected terrorist.More on this story here.
E.U. LAWYERS & ACCOUNTANTS MUST BE INFORMANTS
New EU rules say professionals must inform police if they suspect a client is involved in money laundering.More on this story here.
Critics charge PM Silvio BERLUSCONI is weakening Italian anti-money laundering laws to save his own skin.More on this story here and here.
LUXEMBOURG BANK SECRECY STAYS
The prime minister says terrorism funds and bank secrecy are different issues and his nation wont end its financial privacy laws alone.More on this story here.
COOK ISLANDS DEFENDS FINANCIAL PRIVACY
RAROTONGA, C.I. In spite of criticism, this Pacific tax haven stands by the financial privacy laws that have made it an offshore center.More on this story here.
PHILIPPINES ADOPTS CLEAN CASH LAW
MANILA. A new anti-money laundering law is aimed at getting the Republic off the FATF black list.More on this story here.
BERMUDA INSURANCE LOOPHOLE
After huge damage claims for terrorist attacks, Bermuda insurers are creating new companies and ways to meet insurance needs.More on this story here and here.
HEDGE FUNDS WEATHER THE STORM
LONDON. Private bankers report strong investor demand for hedge funds and the industry appears to be weathering the volatility.More on this story here.
$5 MILLION NEW YORK BANK ROBBERY
The State of New York fines the Commercial Bank of New York $5 million for allegedly being lax on money laundering in its private banking unit. No crimes charged, no money laundering proven. Pay anyway!More on this story here.
GERMAN TAX EVASION SOON A CRIME
Add to a centralized government roster of all bank accounts, lumping tax evasion together with money laundering as crimes.More on this story here.
The German Central Bank is trying to stop panic dollar buying caused by the euro and the death of the Deutschmark.More on this story here.
SWISS BANK MYTH?
Most dormant Swiss bank accounts turn out not to belong to Holocaust survivors, but to non-Jews who forgot their money.More on this story here.
SOUTHERN AFRICA NEWS
JOHANNESBURG. The South African rand falls to it lowest level ever against the dollar.More on this story here.
In ZIMBABWE Pres. Robert MUGABE imposes national socialism as white owned farms and businesses are confiscated.More on this story here and here.
COMPANY DROPS PGP SOFTWARE PRODUCTION
Network Associates ends commercial production of PGP encryption software, but it's still available in free downloads.More on this story here and here and here.
ENCRYPTION WILL STAY
A special Cato Institute report explains why curbs on encryption wont work, wont help national security and should be defeated.More on this story here.
“SMART CARDS” GET A SECOND LOOK
Smart cards, with embedded computer chips, now being touted by their makers as the new national identity card for Americans.More on this story here.
GERMANY IMPOSES FINGER PRINT I.D.
The German government will require finger print ID on all passports and other identity documents.More on this story here.
U.S. DETAINS HUNDREDS IN SOLITARY
With no charges against them, hundreds of persons are being held in secret by the US government as suspected terrorists.More on this story here and here.
U.K. PROPOSES MORE ANTI-TERROR LAWS
LONDON. PM Tony BLAIR wants a sweeping anti-terrorism bill that makes criminal “religious hate” and gives extra police powers to investigate terrorist suspects and seize assets.More on this story here and here.
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