-104.jpg)
Tax Havens not exempt from AML Compliance
Plans to investigate tax havens for AML compliance and tax evasion measures
Under new planned rules accountants and other regulatory bodies from tax havens will have to reassure MPs as to the status of their AML checking and tax evasion compliance measures.
The plans are part of the Treasury’s select committees investigation into offshore tax centres. British overseas territories including the Cayman Islands and Bermuda are likely to be affected by new plans, as are Jersey and the Isle of Man.
The investigation is likely to call members of the Foreign and Commonwealth office as well as other financial services companies in the UK, with recommendations due in September.
The investigation has been called as concern has grown over the difficulty regulating and carrying out AML checks robustly within designated ‘tax havens’.
Print page
