7th August 2019
HSBC’s Swiss private banking arm has agreed to pay nearly 300 million euros ($336 million) to settle a tax fraud case in Belgium, Belgian prosecutors said on Tuesday, the latest blow for the Alpine state’s banking sector from the EU. The settlement comes after a French court in February ordered… Read More
7th August 2019
U.S. national security adviser John Bolton on Tuesday said Washington was ready to impose sanctions on any international company doing business with Venezuelan President Nicolas Maduro, a sharp escalation of U.S. pressure on the leftist leader. Bolton, addressing a summit on Venezuela in the Peruvian capital Lima, emphasized that tougher… Read More
7th August 2019
Swiss federal prosecutors have filed fraud charges against three former senior German soccer officials and one Swiss over a suspect payment linked to the 2006 World Cup hosted by Germany, the Swiss Attorney General’s office said on Tuesday. The indictment alleges former German Football Association (DFB) presidents Theo Zwanziger and… Read More
7th August 2019
A university student appeared in court accused of being connected to a £16million money laundering operation centred at a bank in Belfast. Gengqi Wang is the 12th person to be charged by detectives investigating an alleged cash deposit racket run by a Chinese crime gang. On Tuesday a judge was… Read More
7th August 2019
Poachers beware: Standard Chartered Plc is coming for you and is urging other banks to do the same. The lender is training bank-branch tellers to spot transactions that could be linked to the illegal wildlife trade and has made them a focus for its financial-crime investigators, said Kweku Bedu-Addo,… Read More
7th August 2019
Profits at Australia’s biggest bank, the Commonwealth, have slumped by 8.1% after the bank laid out an extra $1bn to compensate customers it has ripped off. The bank, which was at the centre of a series of financial scandals that helped prompt last year’s Hayne… Read More
7th August 2019
The FBI has put out a warning on “confidence/romance frauds” across online dating sites. Cybercriminals are tricking people into laundering and sending money, purchasing items and providing personal and financial information, the FBI said Monday, by posing as a… Read More
7th August 2019
For decades, increasing reliance on technology and automation has meant one thing for workers: fewer jobs. In a fast-growing corner of the finance industry, it’s doing the opposite as banks across Europe struggle to fill positions in units employing tech to combat money laundering. Reeling from a litany of scandals… Read More
6th August 2019
Drug traffickers have used two private companies which were set up by Crown Resorts with Crown executives as directors to bank suspected proceeds of crime, federal investigations have alleged. Investigators traced money from a number of suspected or convicted drug traffickers and money launderers flowing into the bank accounts of… Read More
6th August 2019
Foreign officials that solicit or accept bribes from their American counterparts could face monetary penalties and prison sentences under bipartisan legislation recently introduced in the US House of Representatives. The Foreign Extortion Prevention Act (FEPA) would expand domestic anti-bribery statutes under 18 U.S. Code Sec. 201 by targeting any officer… Read More