Transportation Firm Fined £850,000 for Angola Bribe Scheme: SFO
5th June 2019
Transportation Firm Fined £850,000 for Angola Bribe Scheme: SFO
Transportation and project logistics company F.H. Bertling Ltd will pay a £850,000 fine for its role in a bribery scheme that garnered $20 million in freight-forwarding services contracts, the UK Serious Fraud Office (SFO) said Monday. The fine follows seven convictions against the firm and its employees for facilitating the… Read More
Guest view: Innovation transforms central banking
4th June 2019
Guest view: Innovation transforms central banking
The future of central banking is inextricably bound to innovation. The technological sea change that is transforming the financial sector and the wider economy is affecting all aspects of our work, from payments to monetary policy to financial regulation. Our mandate to preserve monetary and financial stability, now and in… Read More
Kenya’s central banker warns about impact of illicit flows
4th June 2019
Kenya’s central banker warns about impact of illicit flows
Kenya needs to urgently stamp out an upsurge of suspicious transactions in its financial sector that imperil future commercial activities and economic growth, Patrick Njoroge, the central bank governor, said on Monday. The East African nation is favoured by foreign investors mainly due to its diverse, fast-growing economy, but its… Read More
U.S. prosecutors seek records from Citgo Petroleum in bribery probe
4th June 2019
U.S. prosecutors seek records from Citgo Petroleum in bribery probe
The U.S. Department of Justice is seeking documents from Citgo Petroleum Corp as part of an investigation into bribery by U.S. suppliers involving its Venezuelan parent, state-owned Petroleos de Venezuela. Citgo confirmed the receipt of a subpoena and said in a statement on Monday it agreed to cooperate with the… Read More
Danske Bank to sell Estonian private loans unit to LHV in $458 million deal
4th June 2019
Danske Bank to sell Estonian private loans unit to LHV in $458 million deal
Danske Bank, which is trying to recover from a major money laundering scandal, has agreed to sell its portfolio of Estonian private loans to LHV Pank in a deal worth 410 million euros ($458.3 million), Estonia’s LHV said on Monday. Danske Bank has already said it will pull out of… Read More
Hong Kong introduces concessions to extradition bill, but critics say not enough
4th June 2019
Hong Kong introduces concessions to extradition bill, but critics say not enough
Hong Kong will make concessions to a controversial extradition bill, Security Secretary John Lee said on Thursday, but opposition lawmakers called for the legislation, which they fear will extend Beijing’s reach into the city, to be scrapped. Various groups in Hong Kong, including democracy activists, have objected to the proposals,… Read More
Senegal’s opposition calls for inquiry on BP gas deal
4th June 2019
Senegal’s opposition calls for inquiry on BP gas deal
A group of opposition politicians in Senegal called on Monday for an investigation of the history of two major offshore gas blocks run by BP after a report alleging fraud involving President Macky Sall’s brother Aliou Sall. The British Broadcasting Corporation (BBC) on Monday published an investigation alleging that in… Read More
Glencore’s head of oil, Alex Beard, retires amid U.S. probes
4th June 2019
Glencore’s head of oil, Alex Beard, retires amid U.S. probes
Glencore’s head of oil, Alex Beard, who helped make the firm one of the world’s top three oil trading houses, will retire this month, the company said on Monday in yet another management shake-up amid U.S. probes into its activities. Glencore, founded by trader Marc Rich, has come under U.S. Read More
FSB Calls for ‘Forward-Looking Approach’ to Regulating Crypto-Assets
4th June 2019
FSB Calls for ‘Forward-Looking Approach’ to Regulating Crypto-Assets
Global financial regulators should consider how the risks of cryptocurrencies and other blockchain-related assets could evolve when assessing their exposure to the technology, a financial stability watchdog said Friday. Governments should publicly state, as much as they can, what their current vulnerabilities to crypto-assets are, including both bank and non-bank… Read More
Honduras: US has no drug proof against Honduran president
3rd June 2019
Honduras: US has no drug proof against Honduran president
AP — The Honduran government says that U.S. federal court documents show no incriminating evidence against President Juan Orlando Hernández, despite listing him as being a target of a Drug Enforcement Administration investigation. Revelations of the investigation prompted Hernández’s office to issue a statement Thursday saying that drug traffickers who… Read More
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