8th July 2019
Investigations surrounding Deutsche Bank’s more than decade-long relationship with President Trump and his business have created a crisis for the German financial giant. It’s caught in a legal tug of war between Trump and House Democrats for the president’s financial records and calls for broad investigations of its… Read More
4th July 2019
German prosecutors are escalating a money laundering inquiry involving Deutsche Bank (DBKGn.DE), including planned raids on wealthy former clients, a person with direct knowledge of the matter told Reuters. Frankfurt’s state prosecutors will in the coming months search the homes of people who it suspects of using a… Read More
28th June 2019
Switzerland’s Federal Council disclosed on Wednesday that it is moving forward with a proposed amendment to the Anti-Money Laundering  Act that would impose new regulatory obligations as soon as 2021.  The draft amendment seeks to address weaknesses identified by the Financial Action Task Force in a 2016 mutual… Read More
28th June 2019
A London judge on Thursday sentenced both a former UBS (UBSG.S) compliance officer and her day-trader friend to three years in jail after they were convicted by a jury of insider dealing. Fabiana Abdel-Malek, 36, and Walid Anis Choucair, 40, were both found guilty after a two-month trial… Read More
26th June 2019
UK officials and professional services providers are failing to share sufficient information on the risks posed by money launderers seeking to the exploit firms in the country, according to research published Tuesday by the Royal United Services Institute (RUSI). The London-based think tank based its analysis on the findings of… Read More
24th June 2019
Saudi Arabia has been granted full membership of the Financial Action Task Force (FATF), a global body dedicated to fighting illicit money flows, Saudi Arabia’s monetary authority said on Friday. The kingdom had been previously denied membership after not meeting criteria in anti-money laundering and counter terrorism financing, and its… Read More
19th June 2019
The use of capital markets to launder money via investment banks is a topic seldom raised. There are the headline-grabbing cases, to be sure, such as Deutsche Bank’s trouble with mirror trades or Goldman Sachs’ connection to the 1MDB bonds, but these are rarities that fall short of driving… Read More
13th June 2019
The United Kingdom must amend its disjointed approach to sanctions policymaking and enforcement ahead of the country’s departure from the European Union, a House of Commons committee said in a report Wednesday. The findings by the Foreign Affairs Committee cite concerns that the Foreign & Commonwealth Office has set… Read More
13th June 2019
Investment banks and other firms participating in UK capital markets must do more to understand their potential exposure to money laundering, according to the Financial Conduct Authority (FCA). In a thematic review published Tuesday, the FCA found that most financial institutions involved in the trading of shares, derivatives, bonds… Read More
7th June 2019
German prosecutors have extended an investigation into a tax-stripping scheme, with around 70 current and former executives of Deutsche Bank now being treated as suspects, the Sueddeutsche Zeitung reported on Thursday. Among those suspected by the Cologne prosecutor’s office is Garth Ritchie, the head of Deutsche’s investment banking arm, the… Read More