Summary
NEW YORK (HedgeWorld.com) - Hedge funds and other private partnerships could be hit with tougher anti-money laundering provisions than the ones previously proposed by the U.S. Treasury, judging from proposals by the Senate Subcommittee on Investigations.
While anti-money laundering measures are typically seen in terms of preventing illegal money transfers by terrorists and drug smugglers, their emergence as a hot button issue for hedge funds appears to be related to a belief in Washington that activities in offshore tax havens are costing the United States as much as $70 billion in lost tax revenue per year.See the full content of this document
Extract
U.S. May Expand Treasury Regulation
Tax evasion schemes allegedly conducted via offshore tax havens by Quellos Group and the Ranger and Maverick fu...
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