12th June 2019
Grab, Southeast Asia’s most valuable start-up, is exploring a move into Singapore banking as regulators in the Southeast Asian city-state consider allowing online-only banks, four people with knowledge of the process said. Grab is close to hiring a consultancy to advise it on its banking potential and is gearing up… Read More
12th June 2019
It is one of the most ambitious anti-money laundering (AML) bills presented to the US Congress in years, though its greater distinction may be that it arrives with something harder to come by than ambition on Capitol Hill: bipartisan support from well-placed lawmakers. Four members of the Senate Banking Committee—Sens. Read More
10th June 2019
AP — A new state law allowing Nevada to test out a limited marijuana banking system is expected to bring some relief to the state’s booming cannabis industry where dispensaries and other businesses are forced to deal in cash. The measure, signed into law Wednesday by Democratic Gov. Steve Sisolak,… Read More
7th June 2019
A group of U.S. Senate Democrats is urging the Federal Reserve to investigate Deutsche Bank AG’s relationship with President Donald Trump and his son-in-law and adviser Jared Kushner. The lawmakers, led by Senators Chris Van Hollen and Sherrod Brown, the senior Democrat on the Senate Banking Committee, said news reports… Read More
7th June 2019
The European Commission on Wednesday called on six EU member-states to bolster their anti-money laundering (AML) supervisory and enforcement efforts in light of recent bank scandals and the risks of crypto-assets. The requests highlight recent efforts by Denmark, Estonia, Latvia, Bulgaria, Sweden and Malta… Read More
5th June 2019
Bank board members will have to pay increasingly close attention to functions which are being automated and no longer carried out by individuals, including anti-money laundering checks, a senior Bank of England official said on Tuesday. BoE executive director for UK deposit takers supervision James Proudman said managing risks from… Read More
5th June 2019
The U.S. Securities and Exchange Commission sued social media company Kik Interactive Inc on Tuesday, alleging it conducted an illegal $100 million securities offering of digital tokens in 2017. The move sets up what could be a high-profile legal fight over the U.S. government’s treatment of cryptocurrencies. Kik, which provides… Read More
5th June 2019
The Estonian government intends to move forward with a raft of measures that will seek to make the Baltic nation, long at the center of Europe’s largest money laundering scandal, a far less appealing destination for financial crooks. In a bid to repair its reputation following the disclosure last year that… Read More
4th June 2019
The future of central banking is inextricably bound to innovation. The technological sea change that is transforming the financial sector and the wider economy is affecting all aspects of our work, from payments to monetary policy to financial regulation. Our mandate to preserve monetary and financial stability, now and in… Read More
4th June 2019
Kenya needs to urgently stamp out an upsurge of suspicious transactions in its financial sector that imperil future commercial activities and economic growth, Patrick Njoroge, the central bank governor, said on Monday. The East African nation is favoured by foreign investors mainly due to its diverse, fast-growing economy, but its… Read More