27th September 2016
Standard Chartered (STAN.L) has referred allegations of impropriety at an Indonesian power company that the bank’s private equity arm invested in to the appropriate authorities, the bank said on Tuesday. The Wall Street Journal earlier reported the bank faced an investigation by the U.S. Department of Justice into whether… Read More
27th September 2016
The trial has started of six people accused of fraud and corruption involving a department of the Halifax Bank of Scotland (HBOS). David Mills, Michael Bancroft, Mark Dobson, Alison Mills, Jonathan Cohen and Tony Cartwright, have pleaded not guilty. Southwark Crown Court was told that the six were involved… Read More
27th September 2016
Banks wary of doing business with potentially troublesome clients typically turn away between 6 and 15 percent of people seeking to become customers, a survey released on Tuesday found. The study by LexisNexis Risk Solutions of banks in eight financial centers found 14 percent of banks turned away 5 percent… Read More
26th September 2016
China’s banking regulator told the nation’s city banks to learn the lesson of the global financial crisis and get back to their traditional businesses, building pressure for the lenders to curb opaque shadow financing. “City commercial banks should change as soon as possible the situation of allocating more funds into… Read More
26th September 2016
The money-laundering threat in the country has been classified as “high,” with the threat posed by drug trafficking rated the highest among predicate crimes, a government report showed. According to “The 1st National Risk Assessment on Money Laundering and Terrorism Financing” report posted on the Anti-Money Laundering Council’s (AMLC) website,… Read More
26th September 2016
Governments worldwide should pass new laws to facilitate the sharing of information between themselves and the private sector in order to better combat financial crime, HSBC’s top lawyer told a banking conference in Geneva on Monday. “Put simply, the way we do financial crime compliance is outdated,” Stuart Levey, chief… Read More
23rd September 2016
NNA – Central Bank Governor, Riad Salameh, called for implementing international standards and issuing required regulations so as to combat money laundering and terror funding in the region. Salameh’s words came Friday in the 40th session of the Council of Arab Banks Governers, which took place in Rabat. Salameh was… Read More
22nd September 2016
China’s outbound direct investment spiked at US$102.75 billion in the first seven months, a 61.8 per cent year-on-year surge Read More
20th September 2016
A concerted global approach is needed to fight the threat, the central bank governor says Read More
20th September 2016
A former president of Guatemala’s Central Bank who admitted involvement in laundering $30 million will avoid serving jail time, a mixed result for an otherwise successful effort by prosecutor’s to counter corruption at the highest levels of the country’s bureaucratic elite. Édgar Barquín, the former president of Guatemala’s Central Bank… Read More