News Luxembourg Bank deposits: Commerzbank to close accounts of 400 Luxembourg clients - report
The Luxembourg arm of Germany's Commerzbank (CBKG.DE) is closing the accounts of 400 customers suspected of tax evasion after prosecutors launched an investigation into Germany's second biggest bank last month, media reported on Tuesday. The 400 customers failed to respond to repeated appeals by the bank to report themselves to the tax authorities, according to the report by the Sueddeutsche Zeitung daily and the WDR and NDR regional broadcasters. The report said Commerzbank would end services for the accounts from April 30 and block credit cards, while safety deposit boxes must be cleared as soon as possible and loans repaid by May 15. The report said Commerzbank Luxembourg managed billions of euros in 19,250 customer accounts in 2008, when the bank decided to stop its offshore business, but that number has since fallen to around 4,000.
News Luxembourg Bank deposits: World Bank aid to the neediest countries ended in offshore bank accounts, shows data from tax havens and BIS
World Bank aid payments to the neediest countries appear to trigger money flows to offshore bank accounts, suggesting funds are siphoned off from the nations they are meant to help, according to a study published on Tuesday.
News Luxembourg Bank deposits: Luxembourg’s Gramegna banks on credentials, recovery pitch in Eurogroup race
LUXEMBOURG — You can’t buy experience ... union is largely connected with plans to share guarantees for deposits, which countries in Northern Europe fear would put their banks on the hook for troubled ...
News Luxembourg Bank deposits: Revolut Expands as a Bank
Europe's most valuable fintech has already amassed 18 million app users worldwide. Some of those are about to become bank customers.
News Luxembourg Bank deposits: Revolut Rolls Out Banking Services in 10 More European Countries
Revolut has expanded its banking services to 10 more European countries, which will offer deposit protection of up to €100,000 to customers.
News Luxembourg Bank deposits: Digital Banking: Revolut Officially Launches as a Bank in 10 European Nations
Revolut has launched operations as a bank in 10 Western European nations, allowing it to provide its customers in these markets deposit protection.
