Euro Pacific Bank has been suspended and some of its Australian customers have been fined for tax evasion following a long-running investigation.
Correspondent bank relationships enable Australians to send money overseas. But are major banks,like Westpac,doing everything they can to stop criminal activity?
Patrick Flynn uses air quotes when referring to “serious criminal activity” and prefers to communicate using “military grade encryption” as he recommends his clients use elaborate and risky offshore banking products.
Australian lawyer Patrick Flynn specialises in advising clients how to minimise their tax.
The big banks'approach to anti-money laundering laws has once again come under the spotlight.
One Friday in January,the ATO issued subpoenas and fired off letters. Investigators in Holland embarked on a similar task.
A big Aussie bank,a gold company and individuals have been caught up in a major global tax evasion and money laundering investigation involving a shady Puerto Rican bank run by an American millionaire.