Ex UBS compliance officer jailed for insider dealing
28th June 2019
Ex UBS compliance officer jailed for insider dealing
A London judge on Thursday sentenced both a former UBS (UBSG.S) compliance officer and her day-trader friend to three years in jail after they were convicted by a jury of insider dealing. Fabiana Abdel-Malek, 36, and Walid Anis Choucair, 40, were both found guilty after a two-month trial… Read More
Ireland’s Central Bank Fines JPMorgan €1.6 Million for Outsourcing Violations
28th June 2019
Ireland’s Central Bank Fines JPMorgan €1.6 Million for Outsourcing Violations
An Irish subsidiary of JPMorgan will pay €1.6 million for failing to keep proper records and obtain approval of its outsourcing of fund administration activities, the country’s central bank said Wednesday.  The penalty by the Central Bank of Ireland is the first-ever to cite outsourcing-related violations, which are… Read More
Australia’s Commonwealth Bank to review customer data policies
27th June 2019
Australia’s Commonwealth Bank to review customer data policies
Commonwealth Bank of Australia (CBA) said on Thursday it will review how it handles customer data as part of an agreement with Australia’s information commissioner after the bank admitted to losing records in the past. The agreement follows incidents when the country’s top lender lost records of almost 20 million… Read More
Israel seeks Swiss help in overseas tax crackdown
27th June 2019
Israel seeks Swiss help in overseas tax crackdown
Israel’s finance ministry has sought help from Switzerland in identifying Israelis it believes have undeclared assets at Union Bancaire Privee (UBP) and Bank Julius Baer, Swiss government documents show. UBP said on Wednesday it is cooperating fully with authorities, while the Swiss Federal Tax Administration is seeking contact addresses for… Read More
Brazil’s top court denies petition to release ex-president
27th June 2019
Brazil’s top court denies petition to release ex-president
AP — Brazil’s Supreme Court on Tuesday denied a petition to release jailed former President Luiz Inácio Lula da Silva, who is serving a sentence for corruption. In a 3-2 vote, a panel of judges rejected freeing da Silva while they consider a petition from his defense team demanding his… Read More
TechnipFMC resolves U.S. and Brazil probes, hopes to settle French case
27th June 2019
TechnipFMC resolves U.S. and Brazil probes, hopes to settle French case
Oil services company TechnipFMC said it would pay $301.3 million to resolve anti-corruption probes with Brazilian and U.S. authorities, and added it was committed to resolving another probe on its affairs with French authorities. TechnipFMC said in a statement published late on Tuesday that it had agreed to the resolutions… Read More
European Authorities Arrest Six for €24m Bitcoin Theft, Money Laundering
26th June 2019
European Authorities Arrest Six for €24m Bitcoin Theft, Money Laundering
British and Dutch officials have arrested six individuals for their alleged roles in stealing €24 million in cryptocurrency from thousands of victims in a dozen countries. The suspects—five men and one woman—were arrested Tuesday morning in the UK’s Lower Weston and Staverton and the Dutch cities of Amsterdam and Rotterdam,… Read More
Unit of Norway’s DNB fined in anti-money laundering probe
26th June 2019
Unit of Norway’s DNB fined in anti-money laundering probe
Norway’s Financial Supervisory Authority (FSA) said on Tuesday it had fined a subsidiary of Norwegian bank DNB for failing to comply with anti-money laundering regulations. DNB Naeringsmegling, a real estate brokerage for commercial property, was given a so-called non-compliance fee of 30,000 Norwegian crowns ($3,532) for failing to properly impose… Read More
Top Austrian court says Ukrainian oligarch can be sent to US
26th June 2019
Top Austrian court says Ukrainian oligarch can be sent to US
AP — Austria’s Supreme Court of Justice ruled Tuesday that a Ukrainian oligarch who prosecutors say had business ties to President Donald Trump’s ex-campaign manager, Paul Manafort, can be extradited to the United States in a bribery case. Judges upheld a Vienna court’s ruling that Dymitro Firtash, who was arrested… Read More
Chinese Bank Risks ‘Death Penalty’ in North Korea Money Laundering Case: Report
26th June 2019
Chinese Bank Risks ‘Death Penalty’ in North Korea Money Laundering Case: Report
A recently unsealed contempt ruling against three Chinese financial institutions that have missed subpoena deadlines could open the way for US officials to cut off dollar-clearing services for Shanghai Pudong Development Bank, The Washington Post reported Monday. The ruling, which does not name the institutions, is believed to target… Read More
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