3rd December 2017
KYC360 News Credit rating firm Equifax is being sued by community banks for payment card issues and failure to adequately secure customer records. US-based Bank of Zachary, First State Bank in Barboursville and the Independent Community Bankers America (ICBA) are demanding Equifax compensate all community banks harmed by the… Read More
3rd December 2017
KYC360 News France’s central bank has warned against digital currency bitcoin and indicated it will not be drawn into problems investors in such schemes encounter. Although bitcoin is associated with “useful” technology such as blockchain and distributed ledger technology, it has some issues, according to the bank’s governor Francois… Read More
1st December 2017
By Elias Hazou Parliament will soon be voting on a bill banning cash transactions of €10,000 and over. Once passed, the law would make any cash-based transactions over €10,000 a criminal act, with fines of up to 10 per cent of the value of the transaction. Simply stated, a… Read More
1st December 2017
By Kareem Shaheen, Guardian A scheme Iran allegedly used to evade sanctions through a state-owned bank in Turkey has been detailed in court by a businessman who claimed the Turkish president, Recep Tayyip Erdoğan, had been aware of the billion-dollar operation. In a case that has strained relations between Turkey… Read More
30th November 2017
By Darya Korsunskaya, Katya Golubkova and Gleb Stolyarov, REUTERS The threat of new U.S. sanctions has spread anxiety among Russia’s wealthiest people that their association with President Vladimir Putin could land them on a U.S. government blacklist, members of the business elite say. The list, to be drawn up by… Read More
30th November 2017
Business Standard Congress Vice-President Rahul Gandhi on Thursday termed demonetisation a money laundering scheme and raked up the issue of BJP President Amit Shah’s son Jay Shah’s company recording massive turnover after the NDA government came to power. “Demonetisation was implemented suddenly, maybe he did not like the Rs 500… Read More
29th November 2017
KYC360 News European Union parliamentarians (MEPs) have called for a special inquiry into details of aggressive tax planning uncovered by the Paradise Papers. MEPs belonging to the Special Inquiry into Money Laundering, Tax Evasion and Tax Avoidance (PANA) have called for the creation of a permanent standing committee to probe… Read More
29th November 2017
KYC360 News Criminals are impersonating police officers and bank fraud teams in order to get people to hand them over large sums of money, a bank lobby group has warned. In a growing scam, fraudsters contact members of the public and say they are investigating a fraud in… Read More
29th November 2017
KYC360 News Apple has had to look into a security bug in its Mac operating system before criminals took to exploit it. The flaw in its MacOS High Sierra allows easy and unsecure access to a machine by simply typing in the user name ‘root’ and leaving the password… Read More
29th November 2017
KYC360 News Zimbabwe’s newly appointed leader has announced a three-month grace period for individuals and firms to repatriate stolen money and assets. During the window period, respondents will not be asked any questions or face charges, however those who do not co-operate will be prosecuted. The government is aware that… Read More