Finance News – Penalties
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ATO reviews decision to dump Keating tax bill
The Australian Taxation Office is reassessing its choice to waive over $950,000 in additional charges linked to a tax obligation of an investment firm associated with Paul Keating.
Read Full Article →ATO reviewing how it decided to waive $950k owed by former PM's company
The tax authority is reassessing its prior choice to cancel significant financial obligations for a former prime minister's business, aiming to ensure fairness and maintain public...
Read Full Article →ATO accused of dumping tax bill for ex-PM Paul Keating’s company
The Australian Taxation Office is facing scrutiny for allegedly forgiving approximately $1 million in penalties and interest tied to an investment firm once associated with former...
Read Full Article →Barclays fined £42m over poor handling of financial crime risk
The regulatory authority imposed a substantial monetary penalty on Barclays due to inadequate oversight and risk management practices associated with two corporate accounts connect...
Read Full Article →Qantas hack victims could get compensation, say experts
Following the recent breach affecting millions of Qantas customers, legal specialists indicate the airline might incur financial consequences related to consumer protection violati...
Read Full Article →Russia says 70% of crypto miners remain unregistered despite new laws
A significant portion of crypto miners operating in Russia have yet to comply with registration requirements, prompting authorities to consider stricter enforcement and increased f...
Read Full Article →AI Can Help the Crypto Industry, CFTC Commissioner Johnson Says—But Also Boost Fraud
Outgoing CFTC Commissioner Kristin Johnson highlights that while artificial intelligence may enhance the cryptocurrency sector's efficiency, it also increases the risk of fraudulen...
Read Full Article →Intuit offers to pay interest, penalties for Ontario families affected by TurboTax snafu
Intuit has proposed covering additional charges incurred by Ontario families who experienced financial setbacks due to errors in claiming the child care tax credit through its soft...
Read Full Article →Singapore orders local crypto firms to cease overseas activity by June 30
Singapore’s central bank mandates that domestic cryptocurrency companies discontinue their international engagements by June 30, imposing substantial fines nearing $200,000 for non...
Read Full Article →ZachXBT flags legal gaps after teen’s $37m crypto theft
A recent $37 million cryptocurrency theft by a Canadian teenager has drawn attention to weaknesses in current laws, prompting calls for enhanced measures to address SIM swapping an...
Read Full Article →Thames Water hit with £123m of fines over sewage and dividend breaches
Thames Water faces substantial penalties totaling £123 million due to regulatory violations, reflecting significant financial consequences aimed at holding the company and its inve...
Read Full Article →Russia plans to seize crypto in new crackdown on local payments
The proposed legislation by Russian regulators aims to impose substantial fines and enable the confiscation of digital assets to curb unauthorized cryptocurrency transactions withi...
Read Full Article →Business owners unprepared for CRA’s switch to default online mail at risk of missing tax info
Companies unaware of the Canada Revenue Agency’s transition to primarily digital communication might fail to access important tax documents, potentially leading to unexpected charg...
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