An accountant millionaire has pleaded guilty to filing a false tax return, making him the first US citizen to face criminal charges stemming from Swiss UBS records controversially procured by the US federal government.

Criminals are increasingly using soccer for money laundering and tax evasion, helped by the globalisation of the sport and financial needs of clubs, an anti-corruption body says.

Here we list who has moved where in another busy week in the offshore sector.

Hong Kong is Asia Pacific's leading international financial centre (IFC), attracting 70% of the world's largest banks and supporting a stock market that is the world's 7th largest and 3rd most capitalised in Asia.

The Dow Jones has plunged 150.17 points (1.77%) to 8353.89 today as US unemployment climbed to a 26-year high.

It could take five years for IFA firms to overhaul their charging model, leaving them little time to comply with the forthcoming RDR, warns Positive Solutions.

Skandia International has added five Invesco funds to its range to diversify the breadth of choice available for international advisers.

Legal & General is to start selling enhanced annuities directly to consumers, bypassing IFAs, via its Annuity Solutions brand.

Almost half of expats in the UK hit hard by the global economic downturn are considering returning home, with those currently based in the US, Thailand and South Africa the worst affected, a new survey reveals.

Capita Self Invested Pensions (CSIP) has told 520 staff their jobs are potentially at risk in a bid to cut costs.