Financial Transparency Coalition

South Korea has informed the U.S. of up to 20 North Korean bank accounts suspected of being used for counterfeiting, money laundering and other illegal transactions, a news report said Wednesday.

The former chief executive of a major accounting firm and six others were indicted in what authorities say was a wide-ranging criminal scheme that generated more than $7 billion in fraudulent tax losses.

The City regulator will put less emphasis on maintaining London’s competitiveness in relation to other financial centres, its head said on Tuesday, in a striking acknowledgement that the approach had undermined the stability of the financial system.

Transfer pricing has steadily become one of the number one issues for the Internal Revenue Service (IRS). Alfredo Jay Urquidi of Marsh & McLennan Companies and David Jarczyk of Ceteris discuss.