2nd July 2020
Goldman Sachs Group Inc. is in the final stages of resolving its biggest legal threat in a decade after tussling with the government on one critical issue: a potential guilty plea for the first time in Goldman’s history. To avert such a penalty over its work for a Malaysian sovereign… Read More
2nd July 2020
Halkbank will ask the U.S. judge overseeing a criminal case accusing it of helping Iran evade American sanctions to recuse himself, a lawyer for the Turkish bank said on Tuesday. The lawyer, Robert Cary, notified U.S. District Judge Richard Berman of Halkbank’s intention at a hearing, without providing a reason. Read More
1st July 2020
Senior Wirecard employees were linked to an opaque network of British companies associated with alleged money laundering. Staff from the scandal-hit German payment processor were shareholders in a company creation operation in the northeast of England that was shut down after a government investigation. The revelations will increase scrutiny of… Read More
1st July 2020
The coronavirus pandemic has forced some financial institutions to reduce staff or reassign personnel at a time when applications for government relief programs are flooding in, heightening banks’ compliance risks, the Office of the Comptroller of the Currency said. The OCC, which supervises and regulates banks and savings associations, said… Read More
1st July 2020
Another major corruption scandal has rocked the West Australian public service, with an arrest warrant issued for a Fremantle Ports worker and his wife who are believed to have fled the country. Police have also arrested and charged the couple’s children over their alleged involvement in a multi-million dollar rort. Read More
30th June 2020
The Philippines’ anti-money laundering agency on Monday said it would conduct a “swift and thorough” investigation into scandal-hit German payments firm Wirecard AG and that it has drawn up an initial list of people and entities of interest. Wirecard’s collapse last week and admission that $2.1 billion of its cash… Read More
30th June 2020
AP – Victor Stemberger wasn’t about to ignore the emails inviting him into a multimillion-dollar business opportunity, so he pitched himself as perfect for the job. In a way he was — but for all the wrong reasons. The 76-year-old Virginia man, whose family says he has cognitive issues,… Read More
30th June 2020
Ernst & Young GmbH, auditor to insolvent German fintech company Wirecard AG, had questions related to unorthodox arrangements under which the company’s cash was held in bank accounts it didn’t control as far back as 2016, according to emails seen by The Wall Street Journal. The auditor subsequently signed… Read More
29th June 2020
A Nigerian influencer who attracted millions of followers by posting selfies from private jets and photographs of his collections of luxury cars, shoes and watches has been arrested amid claims of a £350 million cyberscam. Officers from the FBI and Interpol seized more than £30 million in cash when they… Read More
29th June 2020
Philippine banks are further tightening procedures after two of the country’s largest lenders were dragged into the reported $2.1 billion missing funds of German financial technology leader Wirecard AG. Cezar Consing, president and chief operating officer at BPI, said they are strengthening policies and programs that encourage good conduct and… Read More