22nd September 2017
On Thursday, the North Gauteng High Court in South Africa dismissed Oakbay’s application to stop the Bank of Baroda closing the accounts of about 20 Gupta-owned companies. As things stand now, the Bank of Baroda is due to pull the plug on Gupta accounts at the end of September. Read More
22nd September 2017
U.S. prosecutors say Scandinavian telecom giant Telia has agreed to pay nearly $550 million in criminal penalties to help settle a years-long corruption probe involving bribes paid in Uzbekistan. The settlement, detailed in court papers filed on September 21 at the U.S. District Court in Manhattan, was the latest chapter… Read More
21st September 2017
US President Donald Trump has signed a new order that boosts sanctions against North Korea over its nuclear weapons programme. The US treasury has been authorised to target firms and financial institutions conducting business with the North. Read More
21st September 2017
Along China’s border with North Korea, residents are more worried about feeding their families than the possibility of nuclear war. In Hunchun, a city of about 230,000 people near China’s shared frontier with North Korea and Russia, protests briefly broke out last month after the United Nations Security Council approved… Read More
21st September 2017
British businesses lost at least £40m last year from frauds perpetrated by their own employees, with London accounting for the largest chunk by far, figures show. Losses from employee fraud were highest in the Greater London area covered by the Metropolitan Police, at £7m in 2016/17, according to government figures… Read More
21st September 2017
Bank Negara Malaysia on Wednesday led a joint raid on MGSB Berhad for suspected illegal financial scheme activities under the Financial Services Act 2013 (FSA) and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA). The central bank in a statement said the raids on Sept… Read More
21st September 2017
The vulnerability of governments and businesses to cyberattacks was exposed again Wednesday when a top US financial regulator said hackers had breached its electronic database of market-moving corporate announcements, and may have profited from the information they stole. The hack of an aspect of the US Securities and Exchange Commission’s(SEC)… Read More
20th September 2017
Sasfin Holdings, a South African financial services company, said it’s firing KPMG LLP as its independent sponsor and searching for a new auditor, as more businesses announced they were dumping the firm because of work it did for the politically connected Gupta family. Hulisani Ltd., which invests in energy projects,… Read More
20th September 2017
Uber Technologies, facing a federal probe into whether it broke laws against overseas bribery, has embarked on a review of its Asia operations and notified U.S. officials about payments made by staff in Indonesia, people with knowledge of the matter said. As the Justice Department looks into a possible criminal… Read More
19th September 2017
Some African countries are at risk of getting slapped with sanctions and trade restrictions for their dealings with North Korea. A report was released by United Nations panel of experts on September 9th, two days prior to the UN Security Council’s unanimous adoption of a tough new round of sanctions… Read More