30th May 2018
The Council of the EU has removed the Bahamas and Saint Kitts and Nevis from its list of non-cooperative tax jurisdictions, following commitments to remedy EU concerns. EU experts have assessed their commitments and the jurisdictions have now been upgraded from the blacklist (annex I) to the grey list… Read More
21st May 2018
European Union finance ministers are set to remove the Caribbean islands of the Bahamas and Saint Kitts and Nevis from an EU list of tax havens next week, EU documents show. The two islands had been included in the blacklist in March as their tax rules and practices were deemed… Read More
21st December 2017
By Neil Hartnell, Tribune 242 The Bahamas is “too eagerly being led to the slaughter” over the introduction of corporate income tax, a former finance minister blasted yesterday. James Smith, also a former Central Bank governor, told Tribune Business that the Government was “kowtowing” to the European Union (EU) and… Read More
14th December 2017
By Neil Hartnell, Tribune 242 Fears were raised again yesterday that the Bahamas could be “shooting ourselves in the foot” by including general and captive insurers within its anti-money laundering regime. Emmanuel Komolafe, the Bahamas Insurance Association’s (BIA) chairman, urged the Government to provide the “benchmarking” studies and data to… Read More
13th November 2017
By Scilla Alecci, ICIJ From film stars to famous manga artists, journalists working on the Paradise Papers investigation have followed the money to cities where the streets do have names – and where local authorities, in at least one case, were asking questions. Files from the Maltese corporate registry revealed… Read More
6th November 2017
By Francesco Guarascio, REUTERS European Union states will on Tuesday discuss plans for a tax havens’ blacklist, officials said, in a bid to tackle offshore tax avoidance after leaked documents revealed investments by wealthy individuals and institutions around the globe. The subject’s inclusion on the monthly meeting’s agenda of EU… Read More
7th October 2016
In the wake of the recent disclosure of leaked Bahamas tax haven data, United Nations human rights experts today urged governments to work together on liquidating offshore tax avoidance and establishing tougher financial regulations. In a news release, Juan Pablo Bohoslavsky, the UN Independent Expert on foreign debt and human… Read More
28th September 2016
Chair Werner Langen kicked off Tuesday’s hearing with the investigative journalists behind the Panama Papers revelations by announcing that the inquiry committee will also look into the recent Bahama Leaks affair and the case of former Commissioner Neelie Kroes, who failed to declare a directorship in an offshore firm while… Read More
22nd September 2016
Anti-corruption watchdog Transparency International is urging the European Union to take the lead in efforts to expose those who represent, or profit, from businesses with secretive links to the world’s biggest tax havens. Transparency International’s call comes in the wake of Wednesday’s leaking of documents by the International… Read More
5th August 2016
Free National Movement Leader Dr Hubert Minnis yesterday released the details of his much talked about anti-corruption plan, saying it aims to restore transparency and accountability to the country. However the plan was not detailed and revealed no new initiatives. Instead it only repeated much of… Read More
Must Read

FATF publishes assessment of UK anti-money laundering, counter terror financing systems

A global anti-money laundering (AML) watchdog has found that the United Kingdom has a ‘robust understanding’ of laundering and terrorism financing threats, but warned it faces significant risks of dirty cash inflows from offshore jurisdictions and foreign criminals. The Financial Action Task Force (FATF) said Britain’s ‘strong’ public-private partnerships are… Read More

Deutsche Bank hit by new laundering report; shares slide again

Deutsche Bank (DBKGn.DE) defended its record in fighting money laundering on Thursday after the Financial Times reported it had processed 31 billion euros ($35 billion) more in questionable funds for Danske Bank (DANSKE.CO) than previously thought. A Deutsche Bank spokesman declined to comment on the FT article. He said, however,… Read More