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Midweek Roundup: Senate Approves Anti-Tax Evasion Provision, New York Court Indicts Swiss Investment Advisers, and More
printThe U.S. Senate approved a transportation bill Wednesday that also would allow the Treasury Department to use the Patriot Act's "primary money laundering concern" designation against jurisdictions and financial institutions that facilitate tax evasion. More The provision, which would let U.S. Treasury officials prohibit U.S. banks from accepting wire transfers from foreign institutions, faces resistance in the House, sources told Moneylaundering.com last week. More The U.S. District Court of New York indicted two investments advisers Wednesday for allegedly helping clients to hide taxable income in Swiss accounts that they accessed through a makeshift arrangement that functioned like an informal money...
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