17th December 2019
Securities regulators have barred a former partner at Goldman Sachs from working in the industry more than a year after he pleaded guilty to helping orchestrate the looting of billions of dollars from a sovereign wealth fund in Malaysia. The banker, Tim Leissner, did not contest the penalty in… Read More
17th December 2019
BNM (Bank Negara Malaysia) has issued an exposure draft setting out proposed requirements and standards for financial institutions looking to implement e-KYC in customer onboarding. The requirements are aimed at enabling the safe and secure application of e-KYC technology in the financial sector, and at facilitating BNM’s continued ability to… Read More
13th December 2019
Malaysia is set to introduce new guidelines requiring all registered companies to submit information on their beneficial owners. The Companies Commission Malaysia (CCM) regulatory development and services division director, Norhaiza Jemon, said the commission intends to implement the new requirements in early 2020 as local media reported. Norhaiza had… 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
The Trump administration Thursday placed a $5 million bounty on the leader of a Russian hacker group called Evil Corp for his alleged work for Moscow’s intelligence agency, part of what U.S. officials say is a broader reprisal for a Kremlin-directed cyber offensive against the U.S. The State Department’s action against Maksim Yakubets… Read More
4th December 2019
Swiss financial markets supervisor FINMA must reconsider its confiscation of 95 million Swiss francs ($95.27 million) from Banca della Svizzera Italiana (BSI), after a court called its calculation of the amount seized “incomprehensible”. BSI was bought by EFG International in 2016 from Brazil’s BTG Pactual after becoming tangled in legal… 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
29th November 2019
Police from Hong Kong, Macau, Malaysia and Singapore mounted a joint operation and busted a transnational syndicate that swindled 139 women out of HK$34 million (US$4.34 million) in online romance scams, local police said on Thursday. The three-day transnational police operation, code-named “Soarblaze”, led to the arrests of 39 people,… Read More
26th November 2019
Two bankers who worked at Coutts private bank in Zurich were fined by the Swiss authorities for failing to report suspicious transactions linked to the sovereign wealth fund 1MDB scandal, it was reported on Sunday. The Sonntag Zeitung and Le Matin Dimanche newspapers reported on Sunday that two Coutts bankers who… Read More
26th November 2019
Cyprus has no plans to stop selling Golden Visas to rich foreigners who invest in the country despite the government’s admission there were laws that let them acquire residency permits and European Union passports without being property vetted – leading to 26 being removed. Cypriot Interior Minister Constantinos Petrides said… Read More