News & Press
Filter news by category:

Read about recent events, essential information and the latest community news.

Displaying page 2 of 3
1  |  2  |  3

Tax Evasion
Wednesday, February 19, 2014
OECD reporting model would govern global exchange of financial account data »
What began as a single-nation effort to locate tax evaders secretly harboring funds in overseas accounts has become a glob...
Wednesday, December 18, 2013
The Top Four AML Issues of 2014 – Beneficial owners, FATCA, and more of the new year’s challenges »
Just under 25 years ago, the field of anti-money laundering was launched into the global spotlight with the founding of th...
Wednesday, December 11, 2013
The ACFCS FATCA IGA Scoreboard – Italy joins the ranks »
As the July 1 st FATCA deadline looms in just 138 days, institutions are entering the final countdown before the landmark...
Tuesday, December 10, 2013
IRS watchdog finds flaws, wasted funds in IRS FATCA systems, as effective date nears »
The multi-billion dollar, high stakes information and tax gathering effort that tax authorities worldwide will commence in...
Wednesday, December 4, 2013
“Significant Diversion” in nonprofit’s tax filing may trigger its demise, absent good controls »
An October 2013 investigative report by the Washington Post revealed that more than one thousand nonprofit organizations...
Wednesday, December 4, 2013
As FATCA nears, US is accused of hypocrisy in attacking offshore secrecy while keeping its own »
The United States, the author of the 2010 Foreign Account Tax Compliance Act (FATCA) that seeks to track down US persons w...
Tuesday, November 26, 2013   (0 Comments - view/add)
Major US bankers’ groups place obstacle to FATCA implementation the way the US IRS planned »
No one said FATCA implementation would be easy. Four powerful groups of United States bankers and securities dealers prove...
Monday, November 18, 2013
Survey reveals limited readiness for FATCA duties among institutions, as July deadline looms »
Despite US Internal Revenue Service deadline extensions to comply with the landmark provisions of the Foreign Account Tax...
Thursday, November 14, 2013
The ACFCS FATCA United States IGA Scoreboard* »
Nations That Signed IGAs with the US as of November 14, 2013 Model 1 IGA 1. Denmark (November 19, 2012) 2. Fra...
Wednesday, October 30, 2013
New US Treasury-IRS FATCA ‘Notice’ puts FFI compliance onus and risk on ‘Responsible Officers’ »
If financial crime compliance professionals think that becoming the FATCA Responsible Officer (RO) at their non-US financi...
Wednesday, October 30, 2013
Three UK dependencies and secrecy havens sign FATCA-style agreements with UK »
Isle of Man, a major tax haven, became the first British dependency to sign an agreement with the United Kingdom (UK) to s...
Tuesday, October 1, 2013
With FATCA still facing opposition in some quarters, US Treasury seeks to counter ‘myths’ »
It is not often that a high-ranking officer of a United States cabinet department takes to public airwaves to correct what...
Tuesday, September 10, 2013
Special Report – US-Swiss agreement puts Swiss banks, US correspondents and FBAR non-filers at risk »
It is the most far-reaching, expensive and ominous set of obligations, conditions and hazards ever imposed on a nation’s b...
Wednesday, September 4, 2013
Hopscotching the World for FATCA Headlines »
The US Foreign Account Tax Compliance Act of 2010 is a complex, international and constantly evolving law. Each week ACFCS...
Tuesday, August 27, 2013
US court approves first US Internal Revenue Service ‘John Doe’ summons to help track tax evaders »
(This ACFCS.org story is adapted from an article in the October 2013   International Enforcement Law Reporter ,...
Wednesday, August 21, 2013
IRS unveils portal for foreign institutions and others to show FATCA adherence »
If the US Foreign Account Tax Compliance Act of 2010 is to have a roll call of financial institutions and other businesses...
Wednesday, August 21, 2013
FATCA spawns 10th IRS reporting form as Form 8966 emerges for reports by foreign institutions, other »
The United States Internal Revenue Service, the leader of the now-global intergovernmental effort to ferret out tax evader...
Tuesday, August 6, 2013
FinCEN opens new route to file FBARs, as FATCA dragnet for same foreign accounts nears »
Since 1976, US persons with bank accounts in other countries have been required to file the Foreign Bank Account Report wi...
Tuesday, August 6, 2013
Do you think FATCA affected the number of FBARs filed? How about doubling them? »
Among the several reporting forms that are issued by the US Financial Crimes Enforcement Network under the Bank Secrecy Ac...
Tuesday, July 23, 2013
Hopscotching the World for FATCA Headlines »
ACFCS.org updates visitors each week on worldwide developments in the run-up to full implementation of the US Foreign Acco...
Tuesday, July 23, 2013
IRS delays shuffle FATCA deck for institutions, companies worldwide – See ACFCS chart »
The delays, announced by the US Internal Revenue Service on July 12, 2013, in certain FATCA implementation dates have caus...
Thursday, May 30, 2013
Global embrace of FATCA continues as secrecy havens, others succumb to growing world pressure »
Maybe it’s the recognition that uncovering hidden accounts in other countries is a key element of combating all types of f...
Tuesday, May 7, 2013
‘John Doe’ summons gives US IRS strong tools to ferret out tax evaders, crack secrecy havens »
The US Internal Revenue Service has many administrative, civil and criminal weapons at its disposal to enforce the nation’...
Tuesday, April 30, 2013
What Compliance, Tax & Operations Officers Need to Know About FATCA »
FATCA is not just about taxes as many financial institution compliance officers are now finding out.  FATCA covers th...
Tuesday, February 26, 2013
Swiss become first to sign FATCA Model II accord with US chipping away at secrecy »
Almost exactly 40 years ago, in May 1973, Switzerland became the first nation to sign a Mutual Legal Assistance Treat...
Tuesday, February 12, 2013
US court scornfully trashes case by UBS clients who blame bank for helping them cheat on taxes »
If there was an annual award for litigation chutzpah, the 2013 winners would likely be the three individuals whose case ag...
Tuesday, January 29, 2013
UK’s Cameron, a strong US FATCA ally on tax evasion, opens path to global attack on tax ‘avoidance’ »
Even as the ink was drying on the final rules the US Internal Revenue Service issued this month under the US Foreign Accou...
Tuesday, January 29, 2013
Multitude of FATCA data tasks give corporate IT staffs headaches, as technology providers drool »
With its IRS regulations finalized and its first provisions in effect, the US Foreign Account Tax Compliance Act (FATCA) i...
Tuesday, January 8, 2013
Guilty plea by Swiss bank with no US presence sets mark in US global tax evasion attack »
For 270 years, Wegelin & Co. proudly advertised that it was Switzerland’s first and oldest bank. Last week, the bank a...
Tuesday, October 16, 2012
States battle Levin effort to unmask beneficial owners, as US agencies make historic funding offer »
United States law enforcement agencies and prosecutors believe so strongly in a law that would help uncover the true benef...
Tuesday, September 25, 2012
With $452 million to spend, SEC starts whistleblower program with small reward that portends others »
In the days of the old Wild West in the United States, when the local sheriff or townspeople wanted to capture a “bad guy”...
Tuesday, September 18, 2012
IRS $104 million reward to informant spotlights vital role of tax whistleblowers »
( Jeffrey Neiman, an attorney in Ft. Lauderdale in his own firm, is a former federal prosecutor. He led the landmark tax...
Tuesday, July 31, 2012
IRS victory in rare FBAR case gives big boost to agency’s offshore tax evasion crackdown »
J. Bryan Williams is a name that US persons who stash their money in offshore accounts to evade their US taxes may come to...
Wednesday, May 2, 2012
FATCA Resources »
Enacted in March 2010, the Foreign Account Tax Compliance Act is one of the most significant tax enforcement measures ever...
Tuesday, May 1, 2012
Historic US indictment of Swiss bank for ‘aiding’ US tax evasion lays foundation for more »
Switzerland’s oldest bank, Wegelin and Co., survived 270 years of war, political change and economic tumult, but could not...

Displaying page 2 of 3
1  |  2  |  3

©2016 Association of Certified Financial Crime Specialists
All Rights Reserved