11th April 2019
Unacceptable clients remain in the Estonian banking system despite tougher regulation, the country’s financial watchdog said on Wednesday, adding that some lenders will be placed under detailed monitoring. The move by Estonia’s Financial Supervisory Authority (FSA) follows a special review of the country’s 16 banks, instigated after 200 billion euros… Read More
11th April 2019
Lebanon’s Hezbollah raised the prospect of retaliation by Iran and its allies over U.S. sanctions, saying on Wednesday that all options were on the table were Washington to take steps that “threaten our nation”. Sayyed Hassan Nasrallah, leader of the heavily armed Iranian-backed Shi’ite group, said the United States’ move… Read More
11th April 2019
The European Central Bank (ECB) is looking into Swedbank’s Estonian operations, Swedish daily Dagens Nyheter reported on Wednesday, citing an undisclosed source. The ECB wants to know how well Swedbank’s Estonian subsidiary kept itself informed about its customers, the paper said, citing the source. The newspaper also reported, citing the… Read More
11th April 2019
A Peruvian judge ordered the arrest of former President Pedro Pablo Kuczynski on Wednesday while also authorizing a search of his properties as part of a probe into a bribery scheme linked to scandal-plagued Brazilian builder Odebrecht. Kuczynski, 80, was taken from his home by police to an official medical… Read More
11th April 2019
AP — The wife of Malaysia’s former Prime Minister Najib Razak was hit Wednesday with a new corruption charge over a solar energy contract. Rosmah Mansor pleaded not guilty to accepting a 5 million ringgit ($1.22 million) bribe through her aide from a manager at Jepak Holdings as a kickback… Read More
11th April 2019
Shareholders of Swiss bank UBS Group should oppose its compensation report for 2018, proxy adviser Glass Lewis said, citing “pay-for-performance concern”. Shareholders get a non-binding vote on pay policy at the bank’s annual meeting on May 2. Glass Lewis said that while UBS had improved earnings last year, some financial… Read More
11th April 2019
Not all deferred prosecution agreements go gentle into that good night. Such at least was the lesson learned Tuesday, when Standard Chartered Bank and the US Justice Department disclosed a 2-year extension to a 7-year-old settlement that required the institution to adopt a host of remedial steps to its sanctions… Read More
10th April 2019
London-based Standard Chartered Bank will pay $1.08 billion to settle sanctions and anti-money laundering violations uncovered by US and UK investigators in a deal that will extend its deferred prosecution agreement through April 2021. Of that its total monetary outlay, $947 million will go to resolve investigations by the US… Read More
10th April 2019
AP — Federal prosecutors added money laundering to the list of accusations against actress Lori Loughlin, her fashion designer husband, Mossimo Giannulli, and 14 other parents Tuesday in the college admissions bribery case, signaling an escalation against parents who are fighting the allegations instead of pleading guilty. Loughlin, the star… Read More
10th April 2019
Swedish bank SEB’s fund management arm has cut its stake in rival Swedbank by just over half, citing risks Sweden’s biggest mortgage lender faces due to its alleged involvement in a fast-growing Baltic money laundering scandal. Swedbank has come under heavy criticism from politicians, investors and the general public over… Read More