7th April 2017
Bank of England governor Mark Carney has warned the global financial system is at a “fork in the road” going into the Brexit talks. In a major speech on the impact of Brexit on the City of London, Mr Carney said the negotiations would influence how banks are regulated. Read More
6th April 2017
Hundreds of secret Swiss bank accounts identified by Australian authorities as part of a global tax evasion and money laundering investigation are still in use, a top tax official said on Wednesday. Coordinated raids on scores of suspicious bank accounts began last week in Australia, the Netherlands,… Read More
6th April 2017
Financial crime has devastating effects. It threatens not only people’s livelihoods but also their lives. Read More
6th April 2017
City firm Clyde & Co has been fined £50,000 – the largest penalty issued against a law firm – and three of its partners £10,000 each for allowing its client account to be used as a banking facility and breaching anti-money laundering rules.  … Read More
6th April 2017
1MDB, Petrobras, FIFA, Odebrecht – are Swiss banks getting better at combating money-laundering? The statistics tell another story. One year ago, Mark Branson of Switzerland’s financial regulator said 15 banks were in a money-laundering danger zone. Statistics have borne this out: Swiss regulator Finma said it dealt with 22 cases of money-laundering… Read More
5th April 2017
President Donald Trump on Tuesday repeated his campaign pledge to undertake a major overhaul of bank regulations, arguing that lending restrictions are hampering job growth. Tighter lending conditions often throw cold water on job growth. A closer look at the data, however, shows that neither of those things is happening… Read More
5th April 2017
Candidates interested in heading the Financial Reporting Centre, the state agency charged with identifying proceeds of crime and fighting money laundering, have three days to apply. FRC, established under the Proceeds of Crime and Anti Money Laundering (Amendment) Act 2012, has largely been operating under staff seconded from the Central Bank… Read More
4th April 2017
Congressional Democrats filed an amicus brief with a federal appeals court in support of the Consumer Financial Protection Bureau’s current structure as an independent agency and its constitutionality. The brief was filed after a D.C. Circuit Court granted the CFPB’s petition for rehearing en banc in a case related to… Read More
4th April 2017
The UK Government has published draft Money Laundering Regulations 2017 alongside a consultative document. Publication of the draft Regulations follows a consultation launched by HM Treasury on September 15, 2016, entitled “Transposition of the Fourth Money Laundering Directive,” where it outlined how the UK Government intended to transpose the 4MLD… Read More
3rd April 2017
President Donald Trump’s plans to to ease banking regulation is raising eyebrows in Europe. Trump has asked the U.S. Treasury Department to submit a report on possible changes to Dodd-Frank – the set of rules established in the wake of the 2008 financial crisis to clamp down on banks risk-taking. Read More