Category: Banking

Los Angeles Man Pleads Guilty to Not Reporting over $1 Million Held in Israeli Offshore Accounts

Monday, August 20, 2018

For Immediate Release

U.S. Attorney’s Office, Central District of California

LOS ANGELES – A Los Angeles man pleaded guilty today in U.S. District Court to willfully failing to file a Report of Foreign Bank and Financial Accounts (FBAR), which would have disclosed his foreign bank accounts, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division.

According to court documents, Ben Zion Birman held offshore

FBAR now has a close cousin named CTA

Foreign Bank Account Reporting, commonly known as FBAR now has a close cousin named CTA. CTA is being created as of the beginning of the year 2021 and named the Corporate Transparency Act, to flush out Beneficial owners of Foreign Entities such as Corporations, LLC, and others where ownership is 25%

Warning to Individuals with Malta Personal Retirements

The IRS has now issued their opinion on their understanding of the meaning of pension fund for purposes of the United States–Malta income tax treaty (Treaty). The competent authorities, CA, have entered into this agreement on December 23, 2021, after becoming aware that U.S. taxpayers with no conn

Operating on the “DARKNET” Brings a penalty of $209,144,554

OPERATING ON THE “DARKNET” BRINGS A PENALTY OF $209,144,554.

Larry Dean Harmon is a U.S. person residing in Akron, was the creator, administrator, and primary operator of Grams, a darknet website that operated on the onion router (Tor) network and advertised itself as the “Google of the Darkweb”. Grams served as a search engine and content aggregator allowing users to search for illicit goods sold on darknet markets, such as narcotics, illegal firearms, and stolen personally identifiable information (PII).

1. In 2014, Harmon began operating and administrating a convertible virtual currency exchanger called Helix through the Grams darknet .onion site that was the primary administrator and operator of Helix a service linked to and affiliated with Grams. Helix operate

United States Financial Action Task Force – Anti-Money Laundering

United States Financial Action Task Force (FATF) List of Jurisdictions with Strategic Deficiencies in Anti-Money Laundering Introduction: In 2020, the United States’ Financial Crimes Enforcement Network (FinCEN) issued their advisory to financial institutions of updates to FATF’s list of juris

Legal Requirements for Hemp-Related Business Customers.

Introduction:

The Financial Crimes Enforcement Network (FinCEN) periodically provides guidance for hemp-related business customers (HRBC). We will also talk about FinCEN conduct towards HRBC as well as how FinCEN collects and gathers information in relation to both the Bank Secrecy Act and Anti-Money Laundering (BSA/AML) regulatory requirements.

First, we need to define a few institutions and definitions that will assist the reader to understand this article as it may apply to them or their clients, but is not intended to be legal advice and is time-sensitive with rapidly expanding regulations from FinCEN, BAS, and AML. Also, we explain how financial institution

Could this happen to Coinbase?

On February 3, 2017, U.S. Magistrate Judge Thomas Rueter ruled that Google must provide emails stored overseas to the FBI for their domestic fraud investigation, despite an earlier decision finding no such obligation for Microsoft. The ruling was made in Philadelphia that transferring emails from a

11.5 Million Documents Leaked

11.5 Million Documents Leaked: The Crippling Panama Papers Transmuted Overnight From Privileged Attorney Information To Forever In The Hands of the Public And The Feared U.S. Treasury. As you the Reader must suspect or know by now, this epic leak has attracted all the wrong attention and interest of