14th January 2019
The United States has warned German companies involved in the Russian-led Nord Stream 2 gas pipeline that they could face sanctions if they stick with the project. U.S. President Donald Trump has accused Germany of being a “captive” of Moscow because of its reliance on Russian energy and urged it… Read More
11th January 2019
Danske Bank A/S and four former top executives were sued on Wednesday by a U.S. shareholder that accused Denmark’s largest bank of defrauding investors and inflating its share price by hiding and failing to stop widespread money laundering at its Estonian branch. The complaint was filed in the U.S. District… Read More
11th January 2019
The European Union is failing to stem misuse of EU funds worth hundreds of millions of euros each year, and manages to recoup only about 15 percent of this sum, auditors said on Thursday. Fraudulent use of EU funds amounted to 391 million euros($451 million) in 2017, fairly typical of… Read More
11th January 2019
The Hong Kong Monetary Authority (HKMA) has reprimanded and penalised JPMorgan Chase Bank HK$12.5 million ($1.60 million) for breaching anti-money laundering rules, after a probe revealed deficiencies in customer due diligence (CDD) and other areas. According to the watchdog, the investigation found that, between April 2012 and February 2014, JPMorgan… Read More
11th January 2019
Bill Browder, founder and CEO of investment fund Hermitage Capital Management, said on Thursday he had asked French authorities to investigate Danske Bank over alleged money laundering, rather than treating it as a witness. Danske Bank (DANSKE.CO) is already under investigation by authorities in Denmark, Estonia, Britain and the United… Read More
11th January 2019
AP — Treasury Secretary Steven Mnuchin told lawmakers in a classified briefing Thursday that the Trump administration will keep strict U.S. sanctions on Oleg Deripaska and any companies he owns, but Democrats say they still have concerns that the government is being too soft on the… Read More
11th January 2019
Have you ever worked with a ‘spoilt rotten’ star trader before, watched him feted by bosses and get his or her own way – yes, even with compliance matters! What ever becomes of such an individual? A London-based compliance officer looks back, aghast, at the time he worked with such… Read More
11th January 2019
Former footballer Sam Sodje has reportedly been accused of laundering thousands of pounds after he helped fraudsters move their cash through his bank account. As part of the scheme, the fraudsters sent emails to firms in Columbia, India and Italy, purporting to be their supplier. Funds were then paid into… Read More
11th January 2019
Germany’s financial markets watchdog is requiring Deutsche Bank to re-examine the files of about 20,000 risky clients by the end of June as part of its “know your customer” process, a person familiar with the matter said on Wednesday. Deutsche Bank has come under fire for weaknesses in its procedures… Read More
10th January 2019
Iran said on Wednesday that it would reciprocate after the European Union added two Iranian individuals and an Iranian intelligence unit to the bloc’s terrorist list. EU ministers agreed on Tuesday to add the names to the list and freeze their assets, effective from Wednesday, as the Netherlands accused Iran… Read More