31st December 2018
Banks need to step up the fight against money laundering and accept lower profits in return, European Central Bank board member Klaas Knot said, after a year in which investigations into criminal use of accounts implicated several EU lenders. “Banks need to adhere to rules and laws under any circumstance. Read More
31st December 2018
The personal information of nearly 1,000 North Koreans who defected to South Korea has been leaked after unknown hackers got access to a resettlement agency’s database, the South Korean Unification Ministry said on Friday. The ministry said it discovered last week that the names, birth dates and addresses of 997… Read More
31st December 2018
AP — A Miami biotech billionaire with his name on the city’s science museum says he has reached an agreement with the Securities and Exchange Commission to settle a civil complaint of stock fraud. Phillip Frost and OPKO Health were charged in September in long-running fraudulent schemes that generated over… Read More
31st December 2018
The Financial Industry Regulatory Authority (FINRA) has fined Morgan Stanley Smith Barney LLC $10 million for anti-money laundering (AML) program and supervisory shortcomings, including the failure to devote sufficient resources to review potentially suspicious transactions. FINRA found that Morgan Stanley’s automated AML surveillance system did not receive critical data… Read More
28th December 2018
The UK National Crime Agency (NCA) is examining accusations that an employee leaked information to a suspect for money, undermining a probe into a network of insider trading suspects in Europe, the Wall Street Journal reported on Thursday. The NCA, which usually focuses on tackling serious and organised crime, is… Read More
28th December 2018
Two Albanian brothers and an accomplice have been jailed for smuggling over £7 million cash on over 80 flights from the UK to various destinations across Europe. The brothers organised travel for four others who acted as couriers by carrying large amounts of cash in their luggage, according to the… Read More
28th December 2018
AP – London’s police chief has suggested that Brexit will be costly and could have a damaging effect on public safety. Cressida Dick told the BBC on Thursday that leaving the European Union would be more challenging if there’s no deal in place between Britain and… Read More
28th December 2018
President Donald Trump is considering an executive order in the new year to declare a national emergency that would bar U.S. companies from using telecommunications equipment made by China’s Huawei and ZTE, three sources familiar with the situation told Reuters. It would be the latest step by the Trump administration… Read More
28th December 2018
AP — Aretha Franklin’s estate has paid at least $3 million in back taxes to the IRS since her death in August, an attorney for the late Queen of Soul’s estate said Thursday. The estate is being audited by the IRS, which filed a claim this… Read More
27th December 2018
JPMorgan Chase & Co (JPM.N) will pay over $135 million to settle charges it mishandled so-called “pre-released” American Depositary Receipts (ADRS), the Securities and Exchange Commission announced on Wednesday. The regulator said the investment bank improperly provided ADRs, which are U.S. securities that represent foreign shares of foreign companies, to… Read More