Banks to invest around $50 million in digital cash settlement project – sources
21st May 2019
Banks to invest around $50 million in digital cash settlement project – sources
Several of the world’s largest banks are in the process of investing around $50 million to create a digital cash system using blockchain technology to settle financial transactions, according to people familiar with the plans. The previously disclosed project, known as the “utility settlement coin,” was first proposed by Swiss… Read More
Mexico to go after all narco judges: official
21st May 2019
Mexico to go after all narco judges: official
Mexico’s President Andres Manuel Lopez Obrador, looking to make good on a promise to clean up rampant corruption, will go after judges that have aligned themselves with the country’s notorious drug cartels, a government official said. The United States slapped sanctions on a Mexican judge and a former state governor… Read More
Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control
21st May 2019
Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control
By Iwa Salami, University of East London The 21st-century revolutionaries who have dominated cryptocurrencies are having to move over. Mainstream financial institutions are adopting these assets and the blockchain technology that enables them, in what is perhaps the most profound development since the birth of cryptocurrencies through… Read More
Deutsche Bank’s AML Team Sought SARs on Trump, Kushner: NYT
20th May 2019
Deutsche Bank’s AML Team Sought SARs on Trump, Kushner: NYT
Deutsche Bank managers blocked the filing of multiple suspicious activity reports (SARs) on transactions involving President Donald Trump, his son-in-law Jared Kushner and offshore parties, The New York Times reported Sunday. In the summer of 2016, the German institution’s transaction monitoring software flagged a series of suspicious payments from Kushner’s real estate… Read More
South Africa ex-president Jacob Zuma in court for corruption
20th May 2019
South Africa ex-president Jacob Zuma in court for corruption
AP — Former South African president Jacob Zuma is in court facing charges of corruption, money laundering and racketeering. Zuma, 77, appeared at the High Court in Pietermaritzburg in eastern KwaZulu-Natal province Monday on charges of receiving bribes when the government purchased arms in 1999. Zuma was South Africa’s president… Read More
In Iran, a plunging economy trumps fears of US confrontation
20th May 2019
In Iran, a plunging economy trumps fears of US confrontation
AP— Across Iran’s capital, the talk always seems to come back to how things may get worse. Battered by U.S. sanctions and its depreciating rial currency, Iran’s 80 million people struggle to buy meat, medicine and other staples of daily life. Now they wonder aloud about America’s intentions as… Read More
Ex-JPMorgan banker faces Hong Kong bribery charges over ‘princeling’ hires
20th May 2019
Ex-JPMorgan banker faces Hong Kong bribery charges over ‘princeling’ hires
JPMorgan’s former Asia investment banking vice-chair Catherine Leung has been charged with two counts of bribery by Hong Kong’s anti-corruption watchdog for offering a job to the son of a potential client. Leung allegedly offered employment to the son of the chairman of a logistics company in 2010 and 2011… Read More
U.S. imposes drug-related sanctions on Mexican judge, former governor
20th May 2019
U.S. imposes drug-related sanctions on Mexican judge, former governor
The United States slapped sanctions on a Mexican judge and a former state governor on Friday, accusing them of taking bribes from drug traffickers, and saying that government corruption had allowed Mexican drug gangs to grow and operate with impunity. Nine other people and ten groups were also designated in… Read More
Chinese firms’ missing $6 billion tests regulators’ resolve
20th May 2019
Chinese firms’ missing $6 billion tests regulators’ resolve
Cash is considered among the hardest assets for a company to fake, which is why the disappearance of a combined $6.1 billion from two Chinese companies has dumbfounded investors and forced regulators to take action. Drugmaker Kangmei Pharmaceutical Co Ltd, a constituent of MSCI’s global indexes, in April said an… Read More
Citgo sought contract with Venezuelan drug suspect’s firm: court document
20th May 2019
Citgo sought contract with Venezuelan drug suspect’s firm: court document
U.S. refiner Citgo sought to sign a contract with a firm owned by a Venezuelan accused of involvement in the drug trade by the U.S. government, according to a complaint by Citgo’s former human resources director filed in a Texas court. Marisol Gomez said she was fired after refusing to… Read More
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