10th July 2019
Danske Bank (DANSKE.CO), entangled in a massive money laundering scandals, has appointed Simon Kingsbury as head of surveillance and investigation from HSBC (HSBA.L), the bank’s head of compliance Philippe Vollot wrote on LinkedIn. Kingsbury, who will join Danske Bank on July 15, will report to Vollot… Read More
10th July 2019
Former French President Francois Hollande was questioned by police in France earlier this month as a witness in a Brazilian corruption investigation into a deal to buy combat jets, a source close to the politician said. Hollande’s predecessor Nicolas Sarkozy refused to be questioned as part of the same probe,… Read More
10th July 2019
AP — Mexican federal prosecutors say they have arrested a prominent lawyer on suspicion of involvement in organized crime and money laundering. A statement from the Attorney General’s Office says attorney Juan Ramón Collado was detained Tuesday in an affluent neighborhood of Mexico City after a judge authorized his arrest. Read More
10th July 2019
With other parts of its business facing hefty cuts, Deutsche Bank wants to expand its European operations handling the assets of rich clients and take market share from rivals after staunching the outflow of assets. Hiring new client relationship managers and perhaps making acquisitions in a few years’ time can… Read More
10th July 2019
The Financial Action Task Force (FATF) published new guidance Friday on how nations and compliance professionals can best implement counterterrorist financing (CFT) strategies and policies. The paper expands on recommendations issued in 2013 by the Paris-based intergovernmental group on national money laundering and terrorist financing risk assessments, and includes input… Read More
9th July 2019
Iran threatened on Monday to restart deactivated centrifuges and ramp up enrichment of uranium to 20% purity in a move away from the 2015 nuclear deal, but the head of Iran’s Revolutionary Guards insisted the world knows Tehran is not pursuing nuclear arms. The threats to ramp up enrichment, made… Read More
9th July 2019
Noah Holdings Ltd., one of China’s largest wealth managers, levied accusations of fraud against Camsing International Holding Ltd., the Hong Kong-listed company that said last week its chairman had been detained by police. The asset manager has filed a lawsuit and reported Camsing to… Read More
9th July 2019
Digitally savvy financial compliance officers are in demand in China, with multinational companies offering to pay top dollar as they look to tackle rising white collar crime in the region, but such talent is hard to find, according to international headhunter DHR International. Demand for professionals with experience in handling… Read More
9th July 2019
Danske Bank (DANSKE.CO) on Monday cut its 2019 earnings forecast for the second time as a tough trading environment and higher costs to combat money laundering weighed on the troubled bank. The profit warning comes as Danske Bank tries to restore trust among investors and customers after last… Read More
9th July 2019
Shares in Punjab National Bank slid after the lender said it had reported a suspected 38 billion rupee ($554.63 million) fraud in Bhushan Power & Steel Ltd’s account, potentially delaying a sale of the firm’s assets and consequent repayments to creditors. PNB is among nearly 34 financial creditors who have… Read More