New allegations against Ghosn concern payments to Saudi businessman – sources
27th December 2018
New allegations against Ghosn concern payments to Saudi businessman – sources
Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan (7201.T) Chairman Carlos Ghosn centre on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said. Prosecutors arrested Ghosn for… Read More
Latvia: BlueOrange Bank fined over €1 million regarding anti-money laundering failures
24th December 2018
Latvia: BlueOrange Bank fined over €1 million regarding anti-money laundering failures
Latvia’s Financial and Capital Market Commission (FCMC) has penalised BlueOrange Bank around €1 246 798 in a settlement regarding the prevention of money laundering and terrorism funding. The bank reportedly had failings on issues pertaining to identifying suspicious transactions, amongst other issues. Dmitrijs Latisevs, CEO of BlueOrange… Read More
London: Sharp jump in Christmas shopping fraud, victims lose £11 million
24th December 2018
London: Sharp jump in Christmas shopping fraud, victims lose £11 million
Police in London are urging the public to stay safe online when doing their Christmas shopping with figures showing a 24% rise in online shopping fraud during the Christmas period between 2015 and 2018. Individuals are being defrauded on popular social media websites and online auction sites, according to Auction… Read More
UK financial crime: Almost half a million suspicious activity reports filed
21st December 2018
UK financial crime: Almost half a million suspicious activity reports filed
The number of suspicious activity reports (SARS) received by the UK Financial Intelligence Unit edged up to almost half a million in the year, placing increased demand on the unit in terms of volume and complexity, the UK’s financial crime boss said in the latest National Crime Agency SARS report. Read More
Saudi corruption settlements will net “not significantly less” than $13 bln in 2019 – minister
21st December 2018
Saudi corruption settlements will net “not significantly less” than $13 bln in 2019 – minister
Saudi Arabia’s finance minister said on Wednesday that cash settlements from an anti-corruption campaign would net “not significantly less” in 2019 than the 50 billion Saudi riyals ($13.3 billion) collected in 2018. Mohammed al-Jadaan also said in a Reuters interview that construction giant Saudi Binladin Group, in which the government… Read More
Estonia arrests ten in Danske Bank money laundering inquiry
20th December 2018
Estonia arrests ten in Danske Bank money laundering inquiry
Estonia has arrested 10 former employees of the local branch of Danske Bank (DANSKE.CO) as part of an international investigation into alleged money laundering. Authorities in Denmark, Estonia, Britain and the United States are investigating payments totaling 200 billion euros ($229 billion) made through the tiny Estonian branch of Denmark’s… Read More
UK: Santander fined £32.8 million for poor handling of dead customers’ accounts
20th December 2018
UK: Santander fined £32.8 million for poor handling of dead customers’ accounts
Santander has been fined £32,817,800 after the Financial Conduct Authority (FCA) found it had failed to effectively handle the accounts and investments of deceased customers. According to the regulator, the bank failed to transfer funds totalling over £183m to beneficiaries when it should have done, which directly affected 40,428… Read More
UBS fined $14.5m over poor anti-money laundering, had SARs, CDD issues
20th December 2018
UBS fined $14.5m over poor anti-money laundering, had SARs, CDD issues
UBS Financial Services (UBSFS) has agreed to pay $14.5 million in penalties to US regulators after it emerged that it failed to implement sufficient financial crime prevention procedures for over a decade. For years, UBSFS did not provide sufficient resources to ensure day-to-day anti-money laundering (AML) compliance, according to the… Read More
Barclays fined $15 million in US over whistleblowing scandal
20th December 2018
Barclays fined $15 million in US over whistleblowing scandal
Barclays Bank and its New York branch have been hit with a $15 million penalty in the US over its CEO’s attempt to unmask the author of two whistleblowing letters. On Tuesday the New York Department of Financial Services (DFS) said the incident, in which CEO Jes Staley tried… Read More
Money laundering: UK regulator investigates Ladbrokes regarding problem gambler ‘hush money’
19th December 2018
Money laundering: UK regulator investigates Ladbrokes regarding problem gambler ‘hush money’
The United Kingdom’s Gambling Commission has launched an investigation into a report that giant bookmaker Ladbrokes agreed to pay the victims of a problem gambler in order for them not to report the firm to the regulator, according to the Guardian. The gambler is understood to have used money stolen… Read More
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