15th September 2020
Federal regulators are preparing to reprimand Citigroup Inc. for failing to improve its risk-management systems—an expansive set of technology and procedures designed to detect problematic transactions, risky trades and anything else that could harm the bank. The expected rebuke from the Office of the Comptroller of the Currency and… Read More
15th September 2020
JPMorgan JPM.N did not carry out key checks when employing the son of a potential client, a prosecutor told a Hong Kong court on Monday, the first day of a bribery trial of the bank’s former Asia investment banking vice-chairwoman, Catherine Leung. Leung, who repeated a not guilty plea… Read More
15th September 2020
Steward Healthcare is facing a $5 million claim in a London court from an American investor who loaned Vitals Global Healthcare millions in their initial bid to obtain the controversial hospitals privatisation in Malta. A London court will allow Steward to defend its case against the claim made by medical… Read More
11th September 2020
The Justice Department said on Thursday that it had charged 57 people with trying to steal more than $175 million from the Paycheck Protection Program to help small businesses during the coronavirus pandemic as questions swirled about how its funds were disbursed. Some cases involved “individuals or small groups, acting… Read More
10th September 2020
For two months, Bulgarians have packed the streets every night to protest that an oligarchic mafia has captured the state and extended its reach deep into institutions such as the judiciary, media and security services. They are demanding the resignations of Prime Minister Boyko Borissov and Chief Prosecutor Ivan… Read More
9th September 2020
JPMorgan Chase & Co. says it’s probing the role of some employees who may have enabled misuse of Covid-relief funds in what it calls potentially illegal activities. The New York-based bank said it has seen “instances of customers misusing Paycheck Protection Program Loans, unemployment benefits and other government programs”… Read More
8th September 2020
India’s anti-money laundering agency fined Standard Chartered Plc 1 billion rupees ($13.6 million) for breaking foreign exchange rules when it worked on the takeover of a local bank, marking one of the country’s biggest penalties imposed on an overseas lender. An eight-year probe found that Standard Chartered violated the so-called… Read More
8th September 2020
House Speaker Alan Peter Cayetano on Sunday called for an audit of all government agencies with big trust or investment funds and to go after possible corruption activities. “I think it’s about time that right after the budget (approval), we must look into government agencies with huge trust or investment… Read More
7th September 2020
Visa is being investigated by the European Commission over its rules on electronic money providers, after allegations that the giant payments group has behaved in an anti-competitive way. There are also concerns among regulators that some financial technology start-ups are pushing the rules too far through a desire to offer… Read More
4th September 2020
The stepson of Malaysia’s former prime minister will forfeit assets worth more than $60 million that he purchased using funds embezzled during the multibillion-dollar looting of a Malaysian state investment fund, the Justice Department announced Wednesday. The 1Malaysia Development Berhad fund, or 1MDB, was established in 2009 by then-Prime Minister… Read More