Difference between revisions of "Compliance Statistics"

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*US system consumes 3.6 billion hours of individual taxpayer time every tax-filing year.[https://www.nbcnews.com/id/wbna24132392]
 
*US system consumes 3.6 billion hours of individual taxpayer time every tax-filing year.[https://www.nbcnews.com/id/wbna24132392]
  
== OVDP for Swiss banks ==  
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== Banks/Penalties ==
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=== Fines ===
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*[https://www.economist.com/finance-and-economics/2021/04/12/the-war-against-money-laundering-is-being-lost 2021] Capital One fined $390m for failing to report thousands of suspicious transactions
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*[https://www.economist.com/finance-and-economics/2021/04/12/the-war-against-money-laundering-is-being-lost 2020] global lenders were hit with $10.4bn in penalties for money-laundering violations, an increase of more than 80% on 2019
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* 2020 NatWest failed to properly scrutinise a gold-dealing
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* 2018 Danske Bank $200bn of potentially dirty money was washed
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=== OVDP ===  
  
 
*ZKB US citizen clients: Less than 1%. DoJ investigation: 2011 to 2018. Fine: $100 million. [https://www.finews.ch/news/banken/45856-zuercher-kantonalbank-brokerage-ausbau-usa]
 
*ZKB US citizen clients: Less than 1%. DoJ investigation: 2011 to 2018. Fine: $100 million. [https://www.finews.ch/news/banken/45856-zuercher-kantonalbank-brokerage-ausbau-usa]
  
 
[[Category:Fact Book]]
 
[[Category:Fact Book]]

Revision as of 05:13, 17 April 2021

The hardest thing in the world to understand is the income tax - Chairman Max Baucus, D-Mont.[1]

  • US system consumes 3.6 billion hours of individual taxpayer time every tax-filing year.[2]

Banks/Penalties

Fines

  • 2021 Capital One fined $390m for failing to report thousands of suspicious transactions
  • 2020 global lenders were hit with $10.4bn in penalties for money-laundering violations, an increase of more than 80% on 2019
  • 2020 NatWest failed to properly scrutinise a gold-dealing
  • 2018 Danske Bank $200bn of potentially dirty money was washed

OVDP

  • ZKB US citizen clients: Less than 1%. DoJ investigation: 2011 to 2018. Fine: $100 million. [3]