17th December 2019
South Korea’s financial regulator on Monday granted preliminary approval for a new internet-only bank, a move that could further fuel competition with established bigger players and foster the fledgling market. The Financial Services Commission (FSC) gave the initial approval to the consortium led by South Korean fintech firm Viva Republica. Read More
16th December 2019
Zimbabwean authorities arrested the wife of Vice President Constantino Chiwenga on charges of money laundering, fraud and violating exchange control regulations, the country’s anti Corruption Commission (ZACC) said on Sunday. Marry Mubaiwa was arrested on Saturday evening and will likely appear in court on Monday, ZACC spokesman John Makamure said. Read More
13th December 2019
There is no dispute that the Foreign Corrupt Practices Act grants the Department of Justice and the Securities and Exchange Commission broad jurisdiction to enforce the statute’s prohibition against bribery of foreign government officials. But in a recent FCPA action against Quad/Graphics Inc. (Quad), the SEC seems to have used… Read More
11th December 2019
Three men were charged by U.S. prosecutors with helping run a $722 million cryptocurrency fraud that amounted to a “high-tech Ponzi scheme.” From 2014 until this month, the men operated BitClub Network, which solicited money from investors in exchange for shares in purported cryptocurrency mining pools and rewarded them for… Read More
9th December 2019
A fund in which the Vatican’s Secretariat of State has invested tens of millions of euros has links to two Swiss banks investigated or implicated in bribery and money laundering scandals involving more than one billion dollars. The fund is under investigation by Vatican authorities. The fund, Centurion Global Fund,… Read More
9th December 2019
Goldman Sachs Group Inc. could end up paying less than $2 billion to resolve U.S. criminal and regulatory probes over its role in raising money for scandal-ridden Malaysian investment fund 1MDB, said three people familiar with the negotiations. The Justice Department and other federal agencies, in internal discussions… Read More
6th December 2019
Glencore Plc is being investigated for bribery by U.K. authorities, deepening the legal troubles that threaten the world’s biggest commodities trader. The shares fell as much as 8.6% to a three-year low. The move by the Serious Fraud Office adds to ongoing corruption probes that Glencore is facing in the… Read More
4th December 2019
A global web of businesses, banks and tax havens used by international crime gangs and fraudsters has been created by a family-owned company in Britain, an investigation has revealed. Leaked documents show links to businesses set up by Formations House, a London-based company that establishes and helps to manage companies,… Read More
4th December 2019
Nordea Bank is free to prevent its employees from investing in Bitcoin and other cryptocurrencies in their own time, a Danish court ruled. The risks associated with cryptocurrencies justify the restriction, according to a verdict published on the Copenhagen-based court’s website late Monday. Denmark’s union for financial industry… Read More
3rd December 2019
Malaysia’s former leader Najib Razak started his testimony to defend against allegations involving 42 million ringgit ($10 million) of bribes in a case involving a former unit of troubled state fund 1MDB. He read out his statement slowly in a packed courtroom in Kuala Lumpur on Tuesday. In his testimony,… Read More