12th September 2018
A whistleblower fighting extradition to Switzerland for leaking details of thousands of clients of HSBC’s (HSBA.L) private bank there said on Tuesday his actions had played a key role in helping other European countries uncover tax frauds. Spain’s High Court is considering Switzerland’s second extradition request against Herve Falciani, a… Read More
12th September 2018
The United Kingdom’s Financial Conduct Authority (FCA) received hundreds of requests for information from regulators and police units from around the world, in line with an initiative to work with other authorities to tackle financial crime. The FCA received 1,064 requests for information and investigatory assistance from over 80 different… Read More
10th September 2018
Europe needs a single agency to tackle money laundering, European Central Bank board member Benoit Coeure said on Friday after recent cases at European Union banks that have exposed gaps in the bloc’s ability to prevent financial crime. “We support any initiative that leads to a more harmonized and… Read More
7th September 2018
Financial data has been stolen from potentially hundreds of thousands of British Airways customers who made online bookings in recent weeks, extending a run of embarrassing technological mishaps suffered by the UK flag carrier. The thefts occurred during a data breach that affected bookings made on the airline’s website between… Read More
6th September 2018
An executive at the London unit of a foreign bank was reportedly arrested on suspicion of bribery, following a seven-month investigation which uncovered corruption. The banker’s case has now been referred to the prosecution services, said the National Crime Agency’s (NCA) Nigel Kirby, quoted in Bloomberg. The bank’s customer… Read More
5th September 2018
Dutch bank ING Groep will pay 775 million euros (about $900 million) in a settlement with the Dutch Public Prosecution Service (DPPS) over its poor anti-money laundering controls which in some cases allowed customers to launder cash for years. A DPPS investigation established ‘serious’ shortcomings at the lender, including that… Read More
5th September 2018
Paul Pester, the chief executive of Britain’s crisis-hit TSB Bank, is stepping down after months of pressure following a botched IT project that has cost more than 200 million euros ($231 million). Pester ran the lender for seven years but was heavily criticised for his handling of the IT update… Read More
4th September 2018
Britain’s TSB was hit by another technology glitch on Monday, the latest since a botched IT upgrade in April resulted in one of the country’s worst banking outages. TSB chief executive Paul Pester was criticized by lawmakers over his handling of the crisis, which has cost its Spanish parent Sabadell… Read More
3rd September 2018
Fines levied by China’s banking regulator have surged since Guo Shuqing became its head in February 2017, rising nearly six-fold from the cumulative fines levied over the previous 14 years, UBS said in a report. The exponential increase in fines highlights a much stricter level of enforcement of regulations in… Read More
31st August 2018
The United Kingdom and its key allies have entered into a fresh agreement to crackdown on illicit cash flows and corporate secrecy which will see their financial intelligence units step up their information sharing and aim to work more closely with the private sector. The partnership was agreed upon this… Read More