tax evasion

UBS admits fraud but what about controls?

July 21, 2008 General

Last week, UBS America finally confessed that it had perpetrated a series of tax frauds which affects 19,000 US taxpayers. Richard Murphy questions whether this is the tip of the iceberg. He is right to do so. I was more interested in the controls aspect: “Our compliance system had failures, and misconduct appears to have [...]

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