Tax Evasion and Tax Fraud: How to Identify the Difference
“Dolce & Gabbana designer furious over $440 million tax evasion fine”
“Stephen Baldwin pleads guilty in tax case, ordered to pay $400K back taxes”
“Olathe businessman pleads guilty to tax evasion”
“Wesley Snipes released from prison after tax evasion”
“Michigan theater owner gets year in prison for tax evasion”
Headlines like those above show that tax fraud and evasion are everywhere. What are the red flags that can help you spot tax fraud? You are required to assist government agencies in detecting and preventing tax fraud. FinCEN is focusing closely on financial crimes and penalizing financial institutions that fail to identify fraudulent activity.
Effective monitoring and proper understanding of the topic are required to accurately describe the transactions on a Suspicious Activity Form. You must learn how to identify tax fraud and appropriately report suspicious activity.
This webinar will address the types of transactions and give you examples of how to drill down further to assess those risks.
WHAT YOU’LL LEARN
- What is the difference between tax evasion and tax fraud? Why does it matter?
- How do criminals use tax havens?
- How tax evasion crimes are linked to money laundering and terrorism?
- What are the requirements of the Foreign Account Tax Compliance Act?
- How are identity theft and tax fraud related?
- What are the red flags that can help you spot tax fraud?
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