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International Banking Law

Virginia International Tax Attorney

Providing Strategic Guidance in Complex International Banking Matters

The United States Government is committed to identifying and taking action against individuals and entities involved in schemes that use secret offshore bank accounts to evade their tax obligations and liabilities.  In 2009, the U.S. Government entered into a deferred prosecution agreement with Swiss banking giant, UBS AG.  Under the terms of the deal, UBS was able to avoid criminal prosecution by agreeing to pay $780 million to the U.S. government in fines, penalties, interest and restitution.  In connection with the agreement, UBS also agreed to turn over the names and account numbers of certain American clients that UBS had helped to use secret Swiss bank accounts to evade their U.S. taxes.  According to U.S. Department of Justice, it is estimated that as many as 52,000 American clients may have held hidden UBS accounts in violation of U.S. tax laws.

While the deferred prosecution agreement between the United States and UBS may be viewed as a landmark attempt by the government to uncover and combat hidden offshore bank accounts, it is only the beginning of the story.  Since the signing of the agreement, international banks and foreign financial institutions have been and continue to be under strict government scrutiny.  The United States Department of Justice and the IRS have increased their efforts and dedicated substantial resources to investigate and catch individuals and institutions that may be using hidden foreign accounts and other offshore tax shelter schemes.

The attorneys at Thorn Law Group have an extensive understanding of the U.S. regulations and standards governing foreign banks and financial institutions.  Our lawyers are seasoned litigators who are well-prepared to counsel and defend financial institutions in complex matters before the IRS, the Department of Justice and other U.S. authorities.  We also regularly advise foreign banking institutions on how to develop effective compliance programs and implement preventative procedures to assure they are cooperating with the laws and regulations of the global banking community.

Working to Resolve Complex Private Banking Disputes

Beyond our representation of international banks and financial institutions, our firm also provides strategic counsel to individuals and entities in private disputes with foreign banks.  Our attorneys have an intimate understanding of international banking rules and regulations.  We combine this knowledge with our advanced litigation skills to help our clients obtain proper relief in situations where foreign banks have violated the fiduciary obligations owed to our clients or engaged in other harmful activities.

Contact Thorn Law Group

If you are involved an international banking law dispute or have concerns about the banking laws of a particular jurisdiction, we encourage you to contact our firm to find out how we can help.  The attorneys at Thorn Law Group are experienced legal professionals that represent and advise individuals, public and private banks, offshore banks, domestic financial institutions, foreign financial institutions and other entities in challenging international tax and banking law matters.

To schedule a confidential consultation with Kevin E. Thorn, Managing Partner of the Thorn Law Group, please phone our Virginia offices at 703-752-3752 or email ket@thornlawgroup.com.

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