Compliance Statistics

From SEAT Wiki
Revision as of 05:13, 17 April 2021 by CentralMind (talk | contribs)

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]