financial crimes

Updated FinCEN FAQs Provide Three Important Clarifications on Reporting Obligations Under the Corporate Transparency Act (CTA) | JD Supra

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Updated FinCEN FAQs Provide Three Important Clarifications on Reporting Obligations Under the Corporate Transparency Act (CTA) | JD Supra

The Corporate Transparency Act (the CTA) went into effect earlier this year, although many uncertainties about the CTA’s application still remain. To help remedy those uncertainties, the Financial Crimes Enforcement Network (FinCEN) has updated its FAQs several times since the CTA has gone into effect. The current FAQs provide three important clarifications that subject companies … Read more

Tax Breaks: Sales Taxes Take A Holiday In Some States

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Tax Breaks: Sales Taxes Take A Holiday In Some States

here. Despite the fact that the thermometer still reads summer, fall is creeping closer. According to the National Retail Federation, one in five (22%) back-to-school shoppers have already started gearing up for the 2024-25 school year (you can count me as one of them). However, with above-average prices in stores and online, those shoppers are … Read more

Long Island business owners sentenced in $1M tax fraud | Long Island Business News

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Long Island business owners sentenced in $1M tax fraud | Long Island Business News

Listen to this article Two owners of businesses on Long Island were sentenced last week for stealing more than $1 million in sales tax money from New York State, according to a statement from the Suffolk County District Attorney’s office.  West Islip resident Brian Soltan, owner of several East Islip auto body businesses, had pleaded … Read more

Apply for an Employer Identification Number (EIN) online

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Apply for an Employer Identification Number (EIN) online

Fact: You may apply for an EIN online if your principal business is located in the United States or U.S. Territories.

Cyprus a , ‘strong member’ of European Public Prosecutor’s Office

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Cyprus a , ‘strong member’ of European Public Prosecutor’s Office

Cyprus is a robust member of the European Public Prosecutor’s Office (EPPO) with ten active investigations in Cyprus and assistance in 58 cases involving other participating member states.

Cabinet ratifies police and FBI cooperation

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Cabinet ratifies police and FBI cooperation

Fact: The memorandum of cooperation between Cyprus’ police and the FBI will strengthen Cyprus’ law enforcement with expertise to combat money laundering and investigate cases involving financial crime.

Legal Services to meet over monastery scandal

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Legal Services to meet over monastery scandal

A meeting at the state Legal Services will be held this week on potential financial crimes and money laundering at the Osiou Avakoum monastery.

The Corporate Transparency Act’s Impact On Charities and Tax-Exempt Entities (Updated) | JD Supra

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The Corporate Transparency Act's Impact On Charities and Tax-Exempt Entities (Updated) | JD Supra

Fact: The Corporate Transparency Act (CTA) became effective on January 1, 2024, with the goal of reducing money laundering and financial crimes by requiring businesses operating in the United States to report ownership and control information. Charities and tax-exempt entities are exempt from CTA reporting requirements.

Our View: Brave step confirms commitment to Cyprus, ’ reputation

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Our View: Brave step confirms commitment to Cyprus, ’ reputation

Fact: President Nikos Christodoulides has taken action to combat money laundering in Cyprus by establishing a unified authority to oversee professional service providers and cooperating with US and British authorities for the effective enforcement of sanctions.

U.S., Cyprus boost ties to crack down on money laundering

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U.S., Cyprus boost ties to crack down on money laundering

Cyprus and the US embassy in Nicosia are collaborating to combat money laundering and financial fraud. The US Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are working with Cypriot authorities to identify and prosecute financial crimes. The FBI and Cyprus police will sign a memorandum of understanding to formalize their cooperation. Additionally, a Cyprus-based company, Tokentrust Holdings, faced sanctions from the US for its connections to Russia’s financial sector.