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EXPOSING THE ENABLERS: Lawyers, accountants and other professionals are the key players facilitating tax and financial crimes, warns OECD report

Premium February 26, 2021

Noting that this small section of professional enablers “undermine public interest in ensuring taxes are paid and available for public use”, the report said, “targeting professional enablers and disrupting their activities is a key avenue for addressing criminal activity at the source.”

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NEWS: Canada’s TD Bank names insider Michelle Myers as global chief auditor amid regulatory glare

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NEWS: Gazprombank, third largest lender in Russia, among 50 banks hit with new US sanctions

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NEWS: Thales, Europe’s largest defence technology company, faces bribery probe from UK’s SFO

By Vish Gain for AMLi

‘PROFESSIONAL ENABLERS’ is what a new OECD report calls lawyers, accountants and other professionals who play a key role in facilitating tax evasion and white-collar crimes.

The report says the small segment of legal and financial professionals that generates opportunities to facilitate financial crimes undermine not only the rule of law public confidence in the legal and financial system but also their own profession.

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Premium

NEWS: Canada’s TD Bank names insider Michelle Myers as global chief auditor amid regulatory glare

 Premium

NEWS: Gazprombank, third largest lender in Russia, among 50 banks hit with new US sanctions

 Premium

NEWS: Thales, Europe’s largest defence technology company, faces bribery probe from UK’s SFO

Regulatory Watch News

  • Financial sanctions update: Frozen Assets Reporting 2024

    OFSI

    OFSI is conducting its Frozen Asset Review. If you hold or control funds or economic resources belonging to, owned, held, or controlled by a designated person, you are required to submit a report to HM Treasury's OFSI by the extended deadline of Monday 25 November 2024.

    This email is a final reminder that you are required to report the value of all assets as they stood at close of business on Monday 30 September 2024.

    Your report must include details of all funds or economic resources frozen in the UK and overseas, where these funds or economic resources are subject to UK financial sanctions legislation.

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  • Bulgaria: EPPO probes into church restoration on suspicion of subsidy fraud

    European Public Prosecutor's Office

    (Luxembourg, 22 November 2024) – At the request of the European Public Prosecutor’s Office (EPPO) in Sofia (Bulgaria), ten searches were carried out on Wednesday, in a probe into suspected subsidy fraud involving the restoration of a church, funded by the EU.  During the searches, conducted in Burgas, Petrich, Rila and Sofia, documents and evidence were seized. 

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