18th January 2019
The ECB has expressed concerns over reports that Spanish bank BBVA (BBVA.MC) hired a former police chief in 2004 to spy on a would-be buyer and some of its officials have discussed it with the bank, a source with knowledge of the situation told Reuters. Another source briefed about the… Read More
18th January 2019
The United Kingdom’s tax authority HM Revenue and Customs (HMRC) has published a list of its top cases of 2018, which features money launderers, smugglers and a globe-trotting tax fugitive. HMRC said its fraud investigations have led to 671 individuals being convicted in over the last 12 months for their… Read More
17th January 2019
European Union finance ministers are set to put on hold a plan to strengthen the bloc’s financial watchdogs, as some states led by Luxembourg oppose ceding their national powers to supervise money managers, according to EU officials and documents. The reform, proposed by the EU executive commission in 2017, was… Read More
17th January 2019
Someone asked me how I won an internal award or recognition for my compliance work at the bank where I worked, and I am pleased to share my little adventure. My story goes back to when I arrived at the glossy reception area of a smart block of offices. It… Read More
17th January 2019
Goldman Sachs Group Inc (GS.N) Chief Executive Officer David Solomon (pictured) on Wednesday apologised to the Malaysian people for former banker Tim Leissner’s role in the sovereign wealth fund 1MDB scandal, but said the bank had conducted due diligence before every transaction. Goldman is being investigated by Malaysian authorities and… Read More
17th January 2019
The European Commission (EC) has handled money laundering issues regarding Malta disproportionally compared to Latvia, which had a ‘much more serious case,’ according to EU lawmaker and former Maltese prime minister Alfred Sant. Malta has been in the spotlight over a number of money laundering and corruption issues in recent… Read More
16th January 2019
AP — Treasury Secretary Steven Mnuchin is urging senators to vote against a Democratic resolution that would maintain sanctions on companies linked to Russian oligarch Oleg Deripaska [pictured]. Mnuchin met with Republican senators behind closed doors Tuesday in the hours before a planned Senate vote on… Read More
16th January 2019
Britain’s financial watchdog has dropped a criminal probe into Credit Suisse related to an alleged fraud in Mozambique, but is still checking the bank and individuals for any breaches of conduct rules, the watchdog said on Tuesday. In 2016, the Financial Conduct Authority (FCA) launched an investigation into the Swiss… Read More
16th January 2019
The United States is not looking to grant more waivers for Iranian oil imports after the reimposition of U.S. sanctions, the U.S. special representative for Iran said on Saturday, underlining Washington’s push to choke off Tehran’s income. “We are not looking to grant any waivers or exemptions to the import… Read More
16th January 2019
The Financial Conduct Authority (FCA) has reportedly launched an investigation into working culture at investment bank RBC Capital Markets following the dismissal of RBC workers who were mistreated after they raised concerns about compliance issues at the bank. According to media reports, former RBC employees have spoken to the FCA… Read More