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NYC Taxi Commission Accused Of $810 Million Fraud

PYMNTS

She’s alleging the city profited by that same amount selling medallions and by collecting a 5% tax on third-party transfers. James is alleging that the TLC had a hand in inflating the price of thousands of medallions over a 14-year period, 2004 to 2017, sometimes by more than 200 percent.

Fraud 223
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BBVA: Inquiry Into Spying Allegations Could Last Months

PYMNTS

The matter involves Jose Manuel Villarejo, who was reportedly hired by the bank to spy on executives of a possible buyer as well as government officials in 2004, at which time Gonzalez was executive chairman of the Spanish bank. The report is a response to alleged finance-related crimes and high-profile money laundering cases in the region.

Taxes 116
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How to Cash in U.S. Savings Bonds and Report Taxes on Interest Earned

MyBankTracker

That is, it can feel like a windfall of cash – until, that is, you realize you need to report taxes on the interest earned. Still, while the tax part may not be loads of fun, it’s always nice to end up with some unexpected cash. savings bonds that were issued on paper or electronically, and how to report it on your taxes.

Taxes 52
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Amazon’s Biggest Campus In The World Opens In India

PYMNTS

Amazon was going to build a huge new headquarters in New York, but eventually decided against it, due to local opposition and despite tax breaks. Amazon, for its part, started working in India in 2004, but retail endeavors began in earnest in 2013. The company’s next headquarters is being built in Arlington, Virginia.

Arlington 170
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Ant Financial Looking To Resurrect Stalled IPO

PYMNTS

Ant Financial’s initial product was the 2004 payment-processing service Alipay. percent pre-tax profits for a 33 percent equity stake. It has since morphed into a platform offering a full suite of services — mobile payments, savings accounts, personal investing, lending, and credit scoring. .

Taxes 131
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Foreign Travel Gets Dearer: TCS on Credit Card Transactions Explained

BankBazaar

The Reserve Bank of India (RBI) has included international Credit Card transactions under the Liberalised Remittance Scheme, and as a result, every dollar spent abroad will now incur a 20% Tax Collected at Source (TCS). Adhil Shetty, CEO, BankBazaar.com, says, “TCS has been applicable on foreign remittances since 1961, and the LRS since 2004.

Cards 78
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London’s Dirty Little (Money Laundering) Secret

PYMNTS

office were facilitating tax evasion and money laundering. regulators didn’t seem inclined to take any real steps toward looking into the claims about BSI’s role in tax evasion at the time. A former employee at Swiss bank BSI, who worked at the bank’s U.K. But as the FT’s reports showed, U.K.

Taxes 100