At the beginning of 2018 Saudi Arabia and the United Arab Emirates introduced VAT for the first time, set at a rate of 5%. This was part of an effort to diversify government revenue with other Gulf Cooperation Council (GCC) countries set to impose a similar tax in due course. In addition to this, certain products classed as ‘harmful’, such as tobacco and energy drinks, are being singled out to face a huge 100% tax levy in these countries.
Constructing a profile of someone’s international financial footprint can be a particularly challenging task, especially in instances where concealment tactics have been deliberately applied. Uncovering assets and interests of sophisticated fraudsters who hide behind complex and opaque offshore business structures can often be difficult to demystify.
In 2017, 3 in 10 UK law firms were affected by cyber attacks. Last year saw the spotlight on ‘Friday afternoon fraud’, a conveyancing scam that targets solicitors’ email accounts and, according to the SRA, cost the legal profession at least £7m in 2016.
Understanding Ransomware - Is your network safe?
Ransomware is malicious software used by cybercriminals to lock users out of systems, including workstations, laptops, and servers, and to hold data hostage.