DOJ: The National Asset Forfeiture Strategic Plan
The abominable practice of "civil forfeiture" is a legal procedure in which prosecutors can seize your property without accusing you—much less convicting you—of any crime.
Austria Shutters Banking System for U.S. Residents…but the Door Remains Cracked
I arrived yesterday afternoon, May 18, in Vienna for a series of meetings with Austrian banks, lawyers, and financial advisors.
Get Ready for Exchange Controls! [Part III]
Get Ready for Exchange Controls! [Part II]
In my most recent blog entry, I described how exchange controls—laws restricting private ownership of, or transactions in, foreign currencies and gold—are spreading from third world countries to the industrialized world.
Get Ready for Exchange Controls! [Part I]
Exchange controls—laws restricting private ownership of, or transactions in, foreign currencies and gold—are blossoming throughout the world. Residents of Cuba, Malaysia, Myanmar, Venezuela, and Zimbabwe have long dealt with these restrictions.
So What if 80% of Big U.S. Corporations Have Tax Haven Subsidiaries? [Part II]
In my last post, I described how Senators Carl Levin (D-Mich.) and Byron Dorgan (D-N.D.), along with the Obama administration, are misinterpreting a report published by the U.S. General Accountability Office to advance their anti-offshore agenda.
So What if 80% of Big U.S. Corporations Have Tax Haven Subsidiaries? [Part I]
U.S. Congressional blowhards are using a recent report from the Government Accountability Office to push for even harsher sanctions against low-tax jurisdictions, and the U.S. companies that use them.
US Military Involvement in Civil Asset Forfeiture
Asset forfeiture is a hugely profitable enterprise for city, county, and state governments, and the federal government as well.
Why Wasn’t Elliot Spitzer Prosecuted for Money Laundering?
About a year ago, former New York governor Elliot Spitzer made a series of cash withdrawals from his own bank account. The total amount he withdrew came to more than $15,000.
Attorney-Client Privilege: What You Need to Know
When you retain a licensed attorney, you generally have the right to refuse to disclose all "confidential communications" between you and your attorney. You also have the right to prevent others from disclosing confidential communications. In U.S. law, this is known as the attorney-client privilege.
Are You Ready for the e-PATRIOT Act?
If you've ever wondered how Congress could possible enact legislation as complex as the USA PATRIOT Act less than 30 days after the events of Sept. 11, 2001, you're not alone.
Expect a Bureaucratic Nightmare when You Renew Your Driver’s License
Back in 2005, our Congressional kleptocrats snuck an obscure provision into a military spending bill that, in effect, creates the first national ID card in U.S. history.
The US Exit Tax: Expatriation and Taxes
The United States is the only major country that imposes tax on a citizen's worldwide income, no matter where that citizen lives.
Diplomatic Passport Scam Exposed
A diplomatic passport is the "Nirvana" of international travel. Once you receive diplomatic status from a recognized government, you may be eligible to enjoy the privileges granted diplomats under international treaty.
UK: Anti-Terrorism Law Used to Investigate Dog Poop
As wacky as some of the anti-terrorist initiatives that I've written about in the good ol' USA, they don't hold a candle to those advanced in the United Kingdom.
The USA Declares War on Iran
No, there haven't been any nuclear missiles launched, at least not yet. No mobilization of U.S. forces on Iran's border. But on March 20, the United States launched the equivalent of an invasion of Iran, in the world of global finance.
Even Elliot Spitzer’s No Match for the “Bank Secrecy Act”
Talk about comeuppance. New York governor Elliot Spitzer, the poster boy for ethics on Wall Street and elsewhere in the financial markets now finds his political career in ruins. And it's all because of an almost-unknown law: the Bank Secrecy Act.
Panama Passport: Separating Fact from Fiction
Debunking the Panama Passport Myth Regularly, we receive inquiries about Panama's "instant passport" program. But here’s the deal: Panama does NOT have a legally sanctioned economic citizenship/passport program. But, there…
Avoid the “Anti-Terrorism Clearance Certificate” Scam
In the last few months, I've received several e-mails requesting assistance in obtaining an "Anti-Terrorist Clearance Certificate."Â They supposedly need the certificate to claim a monetary award, generally for US$100,000 or more, purportedly from an offshore source.
Yes, You are a Criminal
If you live or do business in the United States, you're almost certainly a criminal, even if you don't know it.
Asset Protection Strategies for the Average American
Joe’s an average American guy. He and his wife Jane live in a three-bedroom tract home in the suburbs with a couple of children. Joe has a middle-class occupation. So does Jane—they…
Austria: A Culture of Privacy
As I described in yesterday's blog entry, Austria has one of the world's strongest bank secrecy laws. Critics of bank secrecy laws claim that they help criminals shield illicit gains…
Why Banking Fees are Higher in Austria than in the USA-and How to Reduce Them
There's no point denying it—banking fees and commissions in Austria—and many other offshore financial centers—are substantially higher than in the United States. Fortunately, there are some ways to reduce them.…
LLCs: A Better Way to Protect Business Assets
Corporations are the traditional way to limit personal liability in a business. A corporation has a separate legal personality from its owners, officers, and directors. This legal personality provides a "corporate…
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