Dormant account legislation updated and modernized, as government foreshadows creation of Disaster Relief Fund

The Government tabled new legislation today that will govern the treatment of dormant accounts in the financial sector. The amendments will set the timeframe for people to claim and access funds in their dormant accounts at 17 years, and establish provisions for the use of funds after those claims are extinguished.

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More offshore banks can expect UBS-type treatment, says former IRS attorney

The IRS clampdown on Swiss bank UBS could be the tip of the
iceberg in its fight against tax evasion and financial institutions in
other offshore jurisdictions might be targeted for similar treatment.

It's
all part of the push for "full tax transparency", says Jonathan
Sambur, a former IRS attorney who now specializes in Tax Transactions
in the Washington, DC office of Mayer Brown law ...

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Central Bank: 'Significant' offshore employment loss as assets 'slump'

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Our dysfunctional banking system, pt. 3

The modern banking system manufactures money out of nothing... Bankers own the Earth...
if you want to continue to be the slaves of bankers and pay the cost of your own slavery,
then let bankers continue to create money and control credit. - Sir Josiah Stamp
In the past two weeks we considered the rapid transformation of banking in The Bahamas, both commercial and international banking. We observ...

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Bank transparency is a 'myth', claims anti-offshore author

Mr. Shaxson will be
expanding on his views of "tax havens" at the

9th Annual OffshoreAlert
Conference, which will be held at The Ritz-Carlton, South Beach in Miami
Beach, Florida on

April 4-6, 2011.

He will participate
in a session entitled

'OFCs or Tax Havens: Good or Bad for the Global
Economy'. Others, including former Cayman Islands Monetary Authority
Chairman Tim Ridley, will argue ...

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Gomez: More offshore banks laying off staff

An increasing number of offshore banks are laying off staff, charged a local financial advisor, asserting The Bahamas will be in trouble if significant growth isn’t seen in the industry.
“More and more banks are downsizing,” said Jerome Gomez, CEO?of Global Corporation Management. “They don’t make the news because they are downsizing one here, five there.
“Thos...

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CIBC FIRSTCARIBBEAN TO SELL ITS BANKING ASSETS IN CURAÇAO AND ST. MAARTEN

FirstCaribbean International Bank Limited has announced that its wholly-owned subsidiary, FirstCaribbean International Bank (Cayman) Limited (“FCIB Cayman”), has agreed to sell its banking assets in Curaçao and St. Maarten to the Curaçao-based Orco Bank.

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Tropical Storm Idalia Forecast Discussion Number 20

Issued at 1100 AM EDT Thu Aug 31 2023

000
WTNT45 KNHC 311458
TCDAT5

Tropical Storm Idalia Discussion Number 20
NWS National Hurricane Center Miami FL

AL102023
1100 AM EDT Thu Aug 31 2023

Satellite imagery, surface observations, and Air Force Reserve
Hurricane Hunter data all indicate that Idalia continues to tangle
with a frontal boundary that extends northward offshore the Outer
Banks. In a...

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American admits using Bahamas to hide funds

A former client of international financial management firm UBS pled guilty to filing false tax returns and hiding assets in offshore accounts.

In Florida yesterday, Paul Zabczuk admitted to a Florida court that he failed to tell the US government about $529,000 in undeclared funds.

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Pet Food Institute Rewards Miracle Mott in BAARK's Powerade Potcake Triathlon

Just Being Able to Run Again Inspiring after 13 surgeries to rebuild leg...When Kimwood Mott takes the baton from son Kadin following the younger Mott?s...

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