29th August 2019
A forgery crisis is quietly roiling the world’s gold industry. Gold bars fraudulently stamped with the logos of major refineries are being inserted into the global market to launder smuggled or illegal gold, refining and banking executives tell Reuters. The fakes are hard to detect, making them an ideal fund-runner… Read More
23rd August 2019
AP—The relationship between a Japanese woman and a U.S. Army captain stationed in Syria started online, through an international social network for digital pen pals. It grew into an internet romance over 10 months of daily emails. It ended with the woman $200,000 poorer and on the verge… Read More
22nd August 2019
U.S.-based Citigroup Inc (C.N) and French bank BNP Paribas (BNPP.PA) are caught up in the U.S. criminal case against the chief financial officer of China’s Huawei Technologies, according to newly available documents. The banks were named in documents released on Tuesday after a hearing in British… Read More
21st August 2019
Dutch cooperative bank Rabobank has decided not to take on any more professional football clubs as clients because of the risk of ‘money laundering, corruption, fraud and other issues’, the NRC said on Tuesday. The paper has seen an internal memo to staff which states ‘these clients would appear… Read More
20th August 2019
Today, it’s not just humans competing for work in banking. Machines are becoming a threat to warm-blooded number crunchers worldwide. Indeed, almost one-third of financial-services jobs could be displaced by automation by the mid-2030s, according to a report by PricewaterhouseCoopers LLP last year. Despite those stark forecasts, some optimists… Read More
19th August 2019
Andrea Vella was Goldman Sachs’s top dealmaker in Hong Kong. He had a nose for splashy trades, a fondness for the Bentley Continental, and a vague enough resemblance to George Clooney that there was even a joke among some bankers: “What would George do?” That was almost a year ago. Read More
16th August 2019
A property development firm is trying to have the lawyer famed for representing creditors to late tycoon Scott Young imprisoned in a bitter legal dispute over the whereabouts of millions of pounds in misappropriated funds. Stephen Jones is said to have lied to clients, the courts and the National Crime Agency… Read More
16th August 2019
A fraud helpline is misleading victims by suggesting their cases will be investigated even though most are dismissed out of hand, it was reported last night. An undercover probe found that managers at Action Fraud mocked victims as ‘morons’, ‘screwballs’ and ‘psychos’, while staff are trained to trick callers into… Read More
13th August 2019
Inquiries from Hongkongers about property in Portugal, the homeland of football superstar Cristiano Ronaldo, have seen an upswing in recent months as wealthy residents and investors clamour for an alternative residency amid escalating political tensions in the city, analysts said. Since its unveiling in 2012, Lisbon’s golden visa scheme has… Read More
13th August 2019
The B.C. government is suing to seize properties in the B.C. Interior that it alleges were linked to a $200-million-plus international stock fraud. In a lawsuit filed in B.C. Supreme Court this month, the B.C. Civil Forfeiture Office alleges a $1.6-million house on Mission Ridge Road in Kelowna and a… Read More