Opened business is the way to overcome financial crimes

Opened business is the way to overcome financial crimes

17.12.2015 News

Opened business is the way to overcome financial crimesIt is widely known that in the modern world entities are created to do business lawfully. Now it is convenient not only to active entrepreneurs, but to active violators of the law who successfully hide their antics in large corporations.

In different countries are increasingly progressing practice of money laundering, tax evasion and other financial crimes. As a result, the closed work of corporations often becomes a  serious impediment to specially authorized bodies in establishing the identity of the financial criminal.

But today, the beneficiary (the real owners of corporations profiting directly) are hidden in offshore jurisdictions, trust funds and other structures that can help to limit the personal information.

Thomson Reuters  news agency reports that the transparency of legal persons can be called a real challenge. Especially that caring  about the confidentiality of the beneficiaries and attract investment, many countries have created favorable conditions for the prosperity of financial crimes. And then it will be very difficult to give up the familiar business management systems to help in the fight against economic crime (online legal advice on criminal law in the portal Lawyer.ua).

In general, there is the desire of different communities of the world to create an open business environment, since the detrimental effect of such privacy economies proved by many examples. Charities and other non-profit organizations that lead the anti-corruption activities talk about the need of  transparent operation of corporations. Moreover, this theme continues to be widely discussed in the information space.

As soon as the company becomes aware of the seriousness of the problem, the fight against financial crimes  becomes effective. For example, in the UK was quickly spread the news about the tax evasion of one  street cafe. The news was the reason for the various discussions in the media, leaving people boycotted the services of the coffee shop, which later suffered  from serious losses.

The  precedent has shown that society can punish unscrupulous employers even without the intervention of government agencies. It is not necessary once again to list the number of financial crimes in Ukraine and the ineffectiveness of specially authorized bodies. Nevertheless, positive changes are depend on the level of legal awareness of citizens. As world practice shows, if the business does not follow the letter of the law, it’s motivated by society, and the results exceed expectations.

Source: http://lawyer.ua/

 

Other articles

  • What help Ukrainian entrepreneurs need to export more
    Analytics

    What help Ukrainian entrepreneurs need to export more

    Exports of goods accounts for a third of Ukraine’s GDP.But we sell primarily raw materials abroad. It is a marker of underdeveloped countries and a path that does not contribute to economic development. Our state’s strategic task is to increase the exports of high-tech goods with high added value: that is, not just to grow […]

  • The Ministry of Finance named the main risks of the economy in 2022
    News

    The Ministry of Finance named the main risks of the economy in 2022

    Next year, Ukraine may face a number of macroeconomic risks that will greatly affect economic growth. The Ministry of Finance listed these risks. In particular, Ukraine may lose 0.6-0.8 percentage points of GDP growth due to too low grain yields, due to which the budget will not receive UAH 8.5 billion. At the same time, […]

  • Ryanair plans to become the main investor in Ukraine
    News

    Ryanair plans to become the main investor in Ukraine

    The low-cost airline Ryanair plans to expand in Ukraine if the open skies agreement with the EU is approved in the coming months. CEO Michael O’Leary stated this. O’Leary predicts the signing of an agreement between Ukraine and the EU by the end of 2021. “One of the markets I would single out is Ukraine. […]

  • Almost 740 enterprises have been put up for sale in Ukraine
    News

    Almost 740 enterprises have been put up for sale in Ukraine

    Ukraine plans to privatize 737 state-owned enterprises during 2021-2023. The Ministry of Economy published the list of objects for sale. Although some companies will be able to sell only after the amendments to the legislation. In particular, such large enterprises as Centerenergo, the United Mining and Chemical Company, Turboatom, the Zaporizhia Titanium and Magnesium Plant, […]

  • Apple was deprived of a monopoly on payments for applications
    News

    Apple was deprived of a monopoly on payments for applications

    Apple Inc, according to a lawsuit filed by Epic Games Inc., must allow mobile app developers to redirect users to alternative resources to pay for services in the App Store. The Wall Street Journal reported this. A 30% commission is now charged on each purchase. Judge Yvonne Gonzalez Rogers concluded that Apple’s practice was uncompetitive […]

  • The World Bank named the conditions for the tranche to Ukraine
    News

    The World Bank named the conditions for the tranche to Ukraine

    The World Bank will provide Ukraine with a second tranche of $ 350 million, but subject to certain conditions. WB Vice President for Europe and Central Asia Anna Bjerde told Interfax-Ukraine what exactly is expected from Kyiv. “The prospects for the second tranche of the Economic Recovery Development Policy Loan depend on maintaining an adequate […]

  • Swedish Tech Company Beetroot Expands With New Location in Mariupol
    News

    Swedish Tech Company Beetroot Expands With New Location in Mariupol

    September 13, 2021 — Stockholm, Sweden — Beetroot AB, the tech division of the Beetroot ecosystem, opens a new location in Mariupol, Ukraine. The company is currently accepting applications for over fifty software development vacancies in its international client projects.   In Mariupol, Beetroot will focus on building teams of tech specialists to work on a […]

  • Google has appealed France’s fine of half a billion
    News

    Google has appealed France’s fine of half a billion

    The American multinational corporation Google, fined in France for copyright infringement, has announced its intention to appeal the decision of the French regulatory authorities. This was announced on Wednesday, September 1, the chairman of the board of Google France Sebastien Missoff. “We do not agree with some legal nuances and consider the amount of the […]

Read also

Opened business is the way to overcome financial crimes
News

AstraZeneca global pharmaceutical company merges with Acepta Pharma

On Thursday, the British drugmaker AstraZeneca said it agreed to buy a controlling stake in the biotech company Acerta Pharma for $ 4 billion. Analysts point out that the operations that were carried out in the health sector helped to make 2015 a record year for mergers and acquisitions. In the legal field, the merger […]

Next
Opened business is the way to overcome financial crimes
News

Shares of Intel fell after the report, as sales of chips for data centers were disappointing

Shares of Intel fell 2.6% in non-trading time after the American chipmaker announced its results for the first quarter and gave a forecast for the whole of 2021. The main figures of the Intel report Intel reported earnings per share decline in the first quarter of 4% (compared to the same value in 2020) to […]

Next
Opened business is the way to overcome financial crimes
News

Things to Consider Before Partnering Up

Savvy entrepreneurs use these strategies to ensure every business partnership is a match made in heaven. Great businesses are founded on great partnerships. But great businesses can also be destroyed by bad partnerships. These entrepreneurs—and members of The Oracles—share their hard-won wisdom about what to watch out for before joining forces with a business partner. […]

Next
Opened business is the way to overcome financial crimes
News

Royal Dutch Shell has sold a part of its business in Malaysia

Dutch-British oil and gas holding company Royal Dutch Shell has transferred a majority stake (51%) of its Malaysian business to local manufacturer – the company Malaysia Hengyuan International Ltd. It is reported by news portal Inventure with reference to the foreign media. According to official information, the transaction value gets at 66.3 million dollars. As […]

Next
Opened business is the way to overcome financial crimes
News

Prometey has invested in the elevator in Kirovograd

In early May, the network of elevators of the Prometey company gained another one – in the village Zaliznichnoe Olshansky district of Kirovograd region, in the Yosipovka railway station. The elevator is operable, on its base continues the acceptance of grain and oilseed crops of the gather 2015, – says the press service of the […]

Next
Opened business is the way to overcome financial crimes
News

Moderna has received an order from the US government in the amount of $ 1.53 billion for 100 million doses of vaccine COVID-19

Shares of Moderna that up to 252.6% since the beginning of the year, increased by 9% before the opening of trading on Wednesday against the backdrop of President Donald Trump signing a major government agreement with the company to supply 100 million doses of its mRNA-1273 vaccine against COVID-19. According to a Moderna press release […]

Next
Opened business is the way to overcome financial crimes
News

AT&T shares fall sharply due to dividend cuts of 40% -43%

Shares of AT&T fell 5.8% on Tuesday, showing the largest one-day decline since June 11, 2020, when shares fell 6.1%. Shares of AT&T rose first on Monday, then fell in the second half of the trading session. The initial growth was due to positive assessments of the future merger agreement between AT&T WarnerMedia and Discovery […]

Next
Opened business is the way to overcome financial crimes
News

Ukraine losts $900 m

Along of  goods transit blockade by Russia, and also its trade aggression, Ukraine in 2016 will lose about $900 million Natalya Mikolskaya, the deputy Minister of economic development, the sales representative of Ukraine  declares that  losses of Ukraine owing to trade aggression of Russia will have constituted $900 million until the end of the year. […]

Next
Opened business is the way to overcome financial crimes
News

Ericsson and Apple decided a patent dispute out of court

Last winter two well-known manufacturers of technique went to court with counter-accusations of patent infringement. Apple representatives accused their Swedish competitors in the application of technologies in the transmission network, the Swedes responded by suing a counter statement in which it accused Apple of using of their cellular technologies in the production of its equipment. […]

Next
Opened business is the way to overcome financial crimes
News

The first truffle farm in Ukraine

French entrepreneur plans to open the first Ukrainian truffle farm in Kharkiv region. Edouard Henon,the owner of the oldest in Bordeaux truffle plantation, plans to organise a truffle farm in the territory of the regional Kharkiv park landscape .He is sure that all conditions, necessary for the cultivation of a delicacy, are in the Kharkiv […]

Next
Opened business is the way to overcome financial crimes
News

Named the most expensive brands in the world

Apple Inc. for the first time in 2016 ranked first in the list of most valuable brands in the world. Brand Finance analysts estimated the company at $ 263.4 billion. Amazon ($ 254.2 billion) is second in the annual Brand Finance Global 500 ranking, followed by Google ($ 191.2 billion). The top ten most expensive […]

Next
Opened business is the way to overcome financial crimes
News

Zoom has launched a $ 100 million investment fund

The video conferencing service Zoom has announced the creation of its venture fund Zoom Apps Fund, its volume will be $ 100 million, this is stated in a press release from the company. Startups in the fund’s portfolio will receive from $ 250,000 to $ 2.5 million. In this way, the company wants to motivate […]

Next
Opened business is the way to overcome financial crimes
News

Four HarvEast farms got the status of breeding farms

The Ministry of Agrarian Policy and Food of Ukraine has assigned four HarvEast dairy farms a status of the breeding farm. This entitles the company to engage in breeding purebred cows of the Holstein breed to ensure their own needs and the sale of breeding animals. This was said in a statement of the company. […]

Next
Opened business is the way to overcome financial crimes
News

Austria and Germany to help Ukraine with forest reform soon

The tripartite international project will be directed to the implementation of woods full state accounting and maintaining the state forest inventory. Kristina Yushkevich,acting chairman of the State agency of forest resources, held a meeting with the Michael Kharms director of Committee of the East European economic relations (Germany) and the Mikael Sutter representative of environmental […]

Next
Opened business is the way to overcome financial crimes
News

The court arrested the “Fozzy-Food” accounts, because of the underestimation of VAT

The Solomensky District Court of Kiev had arrested the “Fozzy-Food” accounts (Vishneve, Kyiv region) due to the underreporting by the officials of the value added tax. This is stated in the definition of the Court of 18 May, says the Ukrainian News. The Solomenskiy District Court of Kyiv has received a request for the seizure […]

Next
Opened business is the way to overcome financial crimes
News

The former factory Mitsubishi is now owned by Rivian Automotive

The American company Rivian Automotive purchased the plant, formerly owned by the Japanese carmaker, and intends to use it for the production of electric cars. The reason for the suspension of production by the former owner at the Illinois plant was the fact that the model, which was produced there (light SUV Outlander Sport / […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com