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Accounting firm PKF has predicted that the UK's HM Revenue & Customs (HMRC) will offer a second "amnesty" to those who owe tax on bank accounts overseas, and has suggested that this could undermine any incentive for tax evaders to volunteer their liabilities in future. HMRC is currently receiving the final payments from its first Offshore Disclosure Facility (ODF), which ended earlier this year. Those who volunteered under this scheme had to pay the tax owed, interest and a 10% penalty. The amnesty is expected to net the Treasury between GBP750 million and GBP1 billion in unpaid tax, but the final number of registrations remained small compared to the total number of people suspected of holding undeclared money in offshore accounts. Before the amnesty expired, HMRC sent out 200,000 letters warning that penalties would be "much higher than under the disclosure arrangements".
Mother robber sent to jail
A woman has been jailed for stealing ?80,000 ($219,000) from her mother who sold up her home in New Zealand to be nearer her daughter in the UK. Care worker Kim Goffin was jailed for two-and-a-half-years in Plymouth Crown Court yesterday after a judge heard how her mother Patricia Williams was left heartbroken and penniless. Widow Mrs Williams, 67, moved back to Britain from New Zealand so she could be closer to her daughter and her three grandchildren. The court was told Goffin, 47, offered to help her mother shop online and then used the information to empty her internet bank account. She got through more than ?80,000 in just 17 months and spent much of the cash buying designer clothes and splashing out on holidays. Jo Martin, prosecuting, said Mrs Williams gave her daughter details of her bank account so she could shop online for her with Tesco Direct.
UK Police Hunt for Web Bank Heist Gang The Times
Nov 01 2007 : Police in the UK are looking for a gang of Internet robbers who took over the bank accounts of at least 10 people and stole hundreds of thousands of pounds from their accounts. Officers from the UK�s Dedicated Cheque and Plastic Crime Unit (DCPCU) told the Times that there may be many more victims. In a process known as social engineering, the thieves were able to obtain personal information about their victims using the Web, telephone calls, the post and actual impersonation of the victims. The criminals then used the information to trick banks into issuing new debit and credit cards in the name of their victims. These cards were used to buy jewelry, electronic goods and to withdraw Euros. Fraud experts refer to this type of financial crime as �account takeover.
13-11-2007: CIMB Bank re-launches Affinity credit card for MIA members
KUALA LUMPUR: CIMB Bank Bhd's division, Direct Access, yesterday re-launched its Affinity card for the Malaysian Institute of Accountants (MIA), as part of its efforts to capture a niche market among professionals in the country. CIMB Bank's chief executive officer Datuk Nazir Razak said: “We are happy to re-launch the card that was once the brand name of Southern Bank Bhd. We hope this card will attract all 24,000 members of MIA." Speaking to reporters on the sidelines of the National Accountants Conference 2007, he said: “CIMB has 800,000 cardholders, in which Direct Access cardholders account for 270,000 of the total number. We hope the brand will be strengthened, together with other CIMB products." The MIA Affinity card, which has the MIA logo and the Mastercard Paypass functionality, would allow cardholders to pay by tapping their cards on a speed-reader.
Smooth Landings Guaranteed for Travellers Heading To UK
Charterhouse Group International PTY is launching Smooth Landings, a new service designed to take the hassle out of travelling to the UK for work, it was announced today at the Sydney Adventure Travel & Backpackers Expo Stand No. 70. Amanda Miller, Managing Director, Charterhouse Group International PTY, Australia, said, "During the three years since we established operations here, market feedback has confirmed that Smooth Landings offers sensible arrivals packages with the reliability that is much in demand." Available for the first time in Australia, Smooth Landings offers a range of arrival services including a UK Sterling bank accounts, UK national insurance registration, free visa consultations, accommodation assistance and more. In addition they offer a unique opportunity to claim back up top 40 per cent of the cost of your airfare to the UK.
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