The Australian Competition and Consumer Commission (ACCC) on Wednesday said it is taking local units of GlaxoSmithKline and Swiss healthcare company Novartis to court over false or misleading representations in the marketing of pain relief products.
It claims they represented Osteo Gel on its packaging and online as specifically formulated for treating osteoarthritis and was more effective than Emulgel, when they had identical formulas.
The EU has named and shamed 17 states in publishing the bloc’s first ever tax haven blacklist and put a further 47 states on notice, including four British overseas territories and crown dependencies. The decision was made at a meeting of finance ministers in Brussels as EU authorities move to counter tax avoidance and evasion – having urged dozens of nations to make greater commitments to transparency over the past year.
Following a deal signed between the Swiss government and the World Bank, Switzerland is to return approximately $321 million in seized assets to Nigeria, Reuters reported on Tuesday.
The money was taken from the family of former Nigerian military ruler Sani Abacha who was accused by corruption watchdog Transparency International of stealing up to $5 billion in public funds during his five years in power in the oil-rich country from 1993 until his death in 1998.
The United States has called the 1Malaysia Development Berhad (1MDB) scandal "kleptocracy at its worst", just as Prime Minister Najib Razak is preparing to rally Malaysia’s ruling party at its last national congress before a general election due within months.
Speaking at the Global Forum on Asset Recovery hosted by the US and UK in Washington, US Attorney General Jeff Sessions said on Monday that the Department of Justice (DOJ) "is working to provide justice to the victims of this alleged scheme".
Apple on MOnday reached an agreement with the European Union to begin depositing the €13 billion ($15.4 billion) in back taxes it was ordered to pay Ireland last year, following the landmark decision to crackdown on tax shelter policies and profit offshoring, according to The Wall Street Journal.
Following new cryptocurrency regulations in April, Japanese police have pointed to 170 cases of money laundering via cryptocurrencies reported by exchange operators in six months between April and October.
The first such report by the National Police Agency was conducted after the law on prevention of transfer of criminal proceeds was revised in April, requiring cryptocurrency exchange operators to report transactions suspected to be involved in money laundering.
A British organization representing 5.4 million people in England and Wales brought a massive lawsuit against the American tech-giant Google on November 30 in the United Kingdom, accusing the California-based company of illegally harvesting data from its customers’ iPhones to then use for individually targeted advertising
In a report published on Tuesday, Oxfam has assessed the tax collecting credentials of the 92 countries currently being assessed by the EU, as well as all 28 EU member states, which are not part of the EU’s review. Claiming to use the same criteria as the EU, namely the examination of countries’ tax transparency systems and tax rates, the Oxfam report claims that a proper blacklist would have four EU member states – Ireland, Luxembourg, Malta and the Netherlands – on it.
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