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  • July 13, 2014
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  1. Business - Banking & Finance - DISCLOSURE

    Swiss private banks give up secrecy tradition amid tax crackdown

    Posted Jun 09th 2014, 03:29am by AFP

    ... Agence France-Presse in Basel Swiss private banks give up secrecy tradition Switzerland's exclusive private banking sector is turning the page on the business model that crafted its ... and even helping foreign nationals to hide assets from the taxman at home, the sector has been undergoing a seismic shift and is even bracing to give up its cherished tradition of banking secrecy ...


    Arafat’s remains said to be exhumed on Tuesday

    Posted Nov 24th 2012, 08:39pm by Associated Press in Ramallah, West Bank

    ... Associated Press in Ramallah, West Bank The remains of former Palestinian leader Yasser Arafat will be exhumed on Tuesday as part of a renewed investigation into his death, a Palestinian ... tomb in Arafat’s former government headquarters in the West Bank city of Ramallah. The Palestinian Authority, the self-rule government in the West Bank, had hesitated before agreeing to exhume ...

  3. Business - Banking & Finance

    Switzerland frees banks to settle US tax evasion cases

    Posted May 30th 2013, 01:46pm by Reuters

    ... Reuters in Zurich Switzerland’s tradition of bank secrecy has helped make it the world’s biggest offshore financial centre, with US$2 trillion in assets. Switzerland aims to save its banks ... of criminal charges that have hurt a vital national industry. It insists banks will still not be allowed to hand over client names- protected by its treasured secrecy law of 1934. But the new ...

  4. News - World - EUROPE

    European customs staff seize more cash amid bank secrecy crackdown

    Posted Nov 04th 2013, 08:58pm by NYT

    ... was nothing exceptional," Bock said. "Every month it passes like that, and there's more and more money because of the crisis." For decades, banking secrecy laws in Switzerland made ... Europeans seek to hide their wealth from rising taxes, high-profile tax investigations and tightening rules at Swiss banks and other traditional havens. The agents say they are routinely detaining ...

  5. News - World - G8 SUMMIT

    Tax evasion, bank secrecy: G8 talks tough, seeks teeth

    Posted Jun 17th 2013, 12:00am by AP, AFP

    ... Associated Press, Agence France Press in Enniskillen, Northern Ireland and Paris Britain aiming to clamp down on evasion and bank secrecy An Tax evasion and banking secrecy, hot topics ... Ireland, has promised big developments on the basis of substantial progress recently in clamping down on evasion and bursting bank secrecy. But many observers from civic bodies are pessimistic ...

  6. Business - Banking & Finance - PRIVATE BANKING

    Bank of Singapore eyes years of asset and jobs growth

    Posted Jul 07th 2014, 05:26am by George Chen

    ... as a breakthrough in global efforts to crack down on tax evasion. De Guzman said the end of Switzerland's banking secrecy made some customers rethink where they should put their money in and who would ... George Chen george.chen@scmp.com The chief of the private banking arm of OCBC says the sector is all about scale, driving plans to boost the number of client-serving roles in Asia Bank ...

  7. Business - Banking & Finance

    French HSBC tax case report reveals US$5b in Swiss funds

    Posted Jul 11th 2013, 11:16am by Reuters

    ... in thousands of Swiss bank accounts. The report, published on Wednesday, looked at why it took French authorities more than four years to begin an investigation after a former HSBC employee gave them a list of people who held money at the global bank’s Swiss arm. “The case of the HSBC list has shed light on the weaknesses in our legal arsenal in the fight against systematic tax fraud,” ...

  8. Business - Banking & Finance - BANKING

    Tighter scrutiny of potential mainland clients by banks in Hong Kong

    Posted May 20th 2014, 11:12am by George Chen

    ... to take advantage of the country's reputation for bank secrecy. A relative of a member of the Chinese People's Political Consultative Conference- the mainland's top political ... George Chen george.chen@scmp.com Tighter background checks have prevented a number of wealthy mainlanders from moving money to Swiss private banks in Hong Kong Offshore accounts harder ...

  9. Speed and secrecy are essential for a smooth 'Grexit'

    Posted May 28th 2012, 12:00am

    ... if the process could be accomplished in complete secrecy. Curiously, however, that would not matter very much. Greek bank staff would spend the days their institutions were closed over-stamping ... impossible, managing its departure and the re-introduction of a national currency will be extremely difficult. However, it can be done. Two things above all are essential: secrecy and speed. Secrecy ...

  10. Business - Banking & Finance - FINANCE

    Like Bank of China, Citic Bank also offers service branded 'money laundering' by CCTV

    Posted Jul 09th 2014, 03:58pm by DON WEINLAND, George Chen

    ... Don Weinland and George Chen CCTV accuses Bank of China of providing money laundering service Citic Bank also moves money overseas, say sources A day after Bank of China (BOC) was accused by the state broadcaster of breaking foreign exchange rules by helping people take money out of the country, it has emerged a second state bank has also been offering the service. Industry sources told ...




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