16th July 2019
Latvia’s financial watchdog has fined Rigensis Bank, the Baltic country’s 11th biggest bank by assets, 1 million euros ($1.1 million) for lax anti-money laundering controls, it said on Monday. The Financial and Capital Market Commission (FCMC) said in a statement the fine was “for infringements of regulatory requirements regarding the… Read More
16th July 2019
Venezuela sold about $40 million worth of gold last week, defying numerous U.S. sanctions that threaten to cut off Nicolas Maduro’s autocratic regime, according to people with knowledge of the matter. The central bank sold nearly one ton of gold July 12, lowering Venezuela’s dollar reserves to a near three-decade… Read More
16th July 2019
The Russian Ministry of Interior announced on Friday that 10 people will stand trial for allegedly conducting 4 billion rubles (US$64 million) of illegal banking activities in the Russian Chuvash Republic. The defendants stand accused of creating 30 fake firms over six years, each existing for only a… Read More
16th July 2019
It was December 30, 2015, and Russian businesswoman Olga Kurbatova, who founded a successful Moscow-based beverage company called Happyland Corp, was celebrating the New Year with her son when she got an unexpected phone call from the bank that managed her fortune, Credit Suisse. There had been a most unhappy… Read More
16th July 2019
Datuk Seri Najib Razak appears to have admitted that his two personal credit cards were used in 2014 for transactions worth RM3.3 million in a single day at a Swiss luxury jeweller’s store in Italy, but has claimed that the money was splashed out on gifts for a mysterious unnamed… Read More
16th July 2019
The director of the Sistine Chapel Choir, which has provided the musical backdrop to papal events for centuries, has resigned following allegations of fraud and embezzlement. Monsignor Massimo Palombella has “concluded his service” after Pope Francis approved his request to end his tenure, the Vatican said in a statement on… Read More
16th July 2019
The Belgian unit of ING Groep NV was fined 350,000 euros ($394,485) by the central bank of Belgium for violating legislation against money laundering. ING Belgium was hit with the penalty on April 24, Julie Kerremans, a Brussels-based spokeswoman for the unit, said in an emailed statement… Read More
15th July 2019
A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for discussion by the Democratic majority that leads the House Financial Services Committee, according to a copy of the draft legislation seen by Reuters. In a sign of widening scrutiny after… Read More
15th July 2019
Italian prosecutors have opened an investigation into possible international corruption following media reports that the ruling League party sought millions of euros via a secret Russian oil deal, two sources said on Thursday. League leader Matteo Salvini, who serves as both deputy prime minister and interior minister in the government,… Read More
15th July 2019
U.S. President Donald Trump has the authority to waive sanctions on Turkey for its purchase of Russian air defence systems and should find a “middle ground” in the dispute, President Tayyip Erdogan said on Sunday. Erdogan’s comments came two days after NATO member Turkey took delivery of the first consignment… Read More