25th August 2017
An avocado importer, an e-cigarette seller and a toilet-cleaning gun maker are among British companies that have had accounts closed or frozen by HSBC in the last two months, unintended casualties of a crackdown by the bank on illicit money flows. Dozens of companies have been affected, with some unable… Read More
23rd August 2017
China’s top prosecutor said on Tuesday it will intensify a crackdown on financial crime, and would step up punishment and efforts to prevent risks to safeguard financial security. The Supreme People’s Procuratorate said China would strictly crack down on any crimes that seriously damaged financial security and that destroyed financial… Read More
22nd August 2017
Moscow City Court has overturned a lower court’s decision to seize the assets of ex-head of Russia’s Mari El Republic Leonid Markelov charged with receiving a large-scale bribe. Basmanny District Court of Moscow had previously seized Markelov’s ownership interest in six companies. Read More
22nd August 2017
Irish firms have taken ‘a big hit’ as a result of the ongoing tit-for-tat trade war between Russia and the European Union. A senior Irish trade envoy has described the outlook for Irish food exporters as ‘bleak’ after EU-US sanctions on Russia were recently extended until 2018. Read More
22nd August 2017
A foreign exchange front-running scheme at HSBC Holdings may have involved at least 11 bank employees beyond the two executives who have been charged with crimes, a prosecutor said. Mark Johnson, HSBC’s global head of foreign exchange cash trading in London, is scheduled to go on trial Sept. 18 in… Read More
18th August 2017
https://www.ftadviser.com/regulation/2017/08/17/fca-stops-200-trading-firms-over-basic-requirements/ Read More
18th August 2017
Disobeying summons issued by an investigating agency under the money laundering law amounts to a criminal offence, the Supreme Court said on Thursday. The apex court’s order came as it set aside a Karnataka High Court order which had held that disobedience of summons for appearance did not amount to… Read More
17th August 2017
The Securities and Exchange Commission charged seven individuals on Wednesday with insider trading in what the regulator said was a wide-ranging scheme that generated more than $5 million in profits by trading on confidential information about dozens of impending mergers and acquisitions allegedly stolen from the investment-bank employer of one… Read More
17th August 2017
People in Jersey are being urged to be extra vigilant following a series of targeted attempts to defraud Jersey companies and their clients. The Jersey Financial Services Commission are warning local businesses and members of the public to be careful after at least three cases surfaced, where locally registered business… Read More
Stephen Platt, Chairman of KYC Technologies, offers an optimistic perspective on the impact of technology on AML compliance. Read More