Financial Transparency Coalition

Finance Minister Audley Shaw has assured Parliament that Jamaica will not earn the reputation of a tax haven when the proposed International Financial Centre (IFC) is established in downtown Kingston.

Switzerland—famous for its strict bank secrecy laws—has cut a deal with U.S. authorities to help prevent tax evasion through the Alpine country’s famous numbered accounts. Revisions to a two-way tax treaty will increase the amount of information shared between the two countries—a big deal for clients who count on the privacy of Swiss banks. According to the Swiss ministry, banks would be able to give out information in “individual cases where a specific and justified request has been made.”

Kolkata, India — Taking advantage of the Paris-based Organization for Economic Cooperation and Development’s sanction threats against tax havens, the Indian government is taking a hard look at the country’s plethora of Double Taxation Avoidance Agreements. But laying a hand on the enormous amount of the country’s illegal or black money stashed abroad may be easier said than done.

Football is being used as a vehicle for money laundering, according to an agency responsible for tracking the proceeds of crime.