17th January 2019
Someone asked me how I won an internal award or recognition for my compliance work at the bank where I worked, and I am pleased to share my little adventure. My story goes back to when I arrived at the glossy reception area of a smart block of offices. It… Read More
17th January 2019
Goldman Sachs Group Inc (GS.N) Chief Executive Officer David Solomon (pictured) on Wednesday apologised to the Malaysian people for former banker Tim Leissner’s role in the sovereign wealth fund 1MDB scandal, but said the bank had conducted due diligence before every transaction. Goldman is being investigated by Malaysian authorities and… Read More
17th January 2019
The European Commission (EC) has handled money laundering issues regarding Malta disproportionally compared to Latvia, which had a ‘much more serious case,’ according to EU lawmaker and former Maltese prime minister Alfred Sant. Malta has been in the spotlight over a number of money laundering and corruption issues in recent… Read More
16th January 2019
AP — Treasury Secretary Steven Mnuchin is urging senators to vote against a Democratic resolution that would maintain sanctions on companies linked to Russian oligarch Oleg Deripaska [pictured]. Mnuchin met with Republican senators behind closed doors Tuesday in the hours before a planned Senate vote on… Read More
16th January 2019
Britain’s financial watchdog has dropped a criminal probe into Credit Suisse related to an alleged fraud in Mozambique, but is still checking the bank and individuals for any breaches of conduct rules, the watchdog said on Tuesday. In 2016, the Financial Conduct Authority (FCA) launched an investigation into the Swiss… Read More
16th January 2019
Britain’s National Crime Agency (NCA) has seized a high value ring bought by a jailed Azerbaijani banker as part of an ongoing probe into its unexplained wealth order (UWO) case against him and his wife. The Cartier diamond ring, which has a retail value of £1,190,000 and was originally… Read More
16th January 2019
The Financial Conduct Authority (FCA) has reportedly launched an investigation into working culture at investment bank RBC Capital Markets following the dismissal of RBC workers who were mistreated after they raised concerns about compliance issues at the bank. According to media reports, former RBC employees have spoken to the FCA… Read More
16th January 2019
Britain’s existing financial crime taskforce initiatives, formed with the banking sector, will not be replaced by the creation of a new economic crime taskforce announced on Monday. Rather, they will have different roles and feed into the new project as part of joint efforts to combat economic crime. Read More
15th January 2019
Malaysia will regulate initial coin offerings (ICOs) and the trade of cryptocurrencies, the finance minister said in a statement on Monday. The minister said an order to recognize digital currencies and digital tokens as securities will come into force on Jan. 15, under the regulation of the Securities Commission Malaysia. Read More
15th January 2019
After a tumultuous 2018, which saw some eye-watering penalties, the rollout of new privacy laws and Europe’s ‘biggest banking scandal,’ anti-money laundering compliance officers may be ready for a fresh start. But regulatory expectations, the promise of fintech solutions and money laundering issues linked to ongoing political corruption scandals, are set to loom large for… Read More