17th August 2017
The Securities and Exchange Commission charged seven individuals on Wednesday with insider trading in what the regulator said was a wide-ranging scheme that generated more than $5 million in profits by trading on confidential information about dozens of impending mergers and acquisitions allegedly stolen from the investment-bank employer of one… Read More
17th August 2017
Companies controlled by the Gupta family, whose accounts are being closed down by Bank of Baroda, said they’re taking legal action against the lender to try and stop the termination, which comes after South Africa’s four biggest lenders cut banking services for the family that’s in business with a son… Read More
17th August 2017
Australia announced a bill on Thursday to strengthen its money laundering laws, including bringing bitcoin providers under the remit of AUSTRAC, the government’s financial intelligence unit. This would be the first stage of reforms to strengthen the country’s Anti-Money Laundering And Counter Terrorism Financing Act, Minister of Justice Michael Keenan… Read More
16th August 2017
Leading Federal Reserve policymaker Stanley Fischer has hit out at plans to unwind banking regulation, brandishing it a “terrible mistake.” In an interview with the Financial Times, Fischer said that efforts by the US administration to strip back the rules put in place 10 years ago would lead large institutions… Read More
15th August 2017
Fines, legal bills and the cost of compensating mistreated customers reached £264bn for 20 of the world’s biggest banks over the five years to 2016, according to new research that raises doubts about efforts by the major financial services players to restore trust in the sector. This figure is higher… Read More
15th August 2017
Malta’s finance ministry has committed itself to passing the fourth EU anti-money laundering directive through parliament after the summer recess. The EU Commission some weeks ago penned a letter to the government asking why it failed to transpose the fourth anti-money laundering directive – aimed at making it harder for… Read More
15th August 2017
The Commonwealth Bank of Australia money laundering scandal has damaged the public’s perception of the whole banking sector, according to the head of the industry’s lobby group. “The issue that Australian banks are suffering with is community trust and public reputation,” Australian Bankers’ Association chief executive officer Anna Bligh… Read More
14th August 2017
Malta’s Minister of Finance failed to answer The Malta Independent’s questions on why it has not transposed the latest EU anti money laundering directive into law. The EU Commission some weeks ago penned a letter to the government asking why it failed to transpose the fourth anti-money laundering directive –… Read More
14th August 2017
German prosecutors have opened proceedings against three members of the Swiss secret services for allegedly spying on their neighbour, according to media reports. The move could further sour relations between the two countries, which have been damaged by an ongoing stolen bank data scandal. The row first erupted earlier this… Read More
14th August 2017
Commonwealth Bank of Australia will embark on a global search for a new chief executive officer after saying Ian Narev will step down within 10 months, as the nation’s largest lender seeks to mitigate the fallout from a money-laundering scandal. The announcement of Narev’s pending departure comes less than a week… Read More