7th January 2019
AP — Fewer Marriott guest records than previously feared were compromised in a massive data breach, but the largest hotel chain in the world confirmed Friday that approximately 5.25 million unencrypted passport numbers were accessed. The compromise of those passport numbers has raised alarms among security experts because of their… Read More
7th January 2019
AP — An ethics watchdog group asked the Justice Department on Friday to investigate whether President Donald Trump’s daughter Ivanka violated federal conflict-of-interest law by promoting an Opportunity Zone tax break program from which she could potentially benefit. The complaint from the Citizens for Responsibility and… Read More
7th January 2019
The most senior bankers to face criminal charges in Britain over conduct during the financial crisis will appear before a London jury next week in a trial that will test the mettle of the Serious Fraud Office. Former Barclays (BARC.L) CEO John Varley and three one-time colleagues stand charged over… Read More
4th January 2019
Three former Credit Suisse bankers have been arrested over money laundering and bribery charges pertaining to a scam which involved $2 billion in loans to companies in Mozambique. According to the prosecution, three Mozambican state-owned firms borrowed over $2 billion. The loan proceeds were meant to be used… Read More
4th January 2019
Swiss financial regulator FINMA has introduced a relaxed anti-money laundering regime for smaller financial technology firms as it looks to promote innovation. The companies will still be subject to the Anti-Money Laundering Act, under the new licensing category – known as the FinTech licence – in Article 1b of the… Read More
4th January 2019
Peru Attorney General Pedro Chavarry on Wednesday reappointed two lead prosecutors he had dismissed from a high-profile graft probe after the decision sparked widespread opposition and a threat by President Martin Vizcarra to suspend him. The prosecutors, Rafael Vela and Jose Domingo Perez, had recently drawn up a plea deal… Read More
4th January 2019
Thieves used mechanical diggers on Wednesday to prise open an armoured van on a highway in southern Italy and made off with more than 2 million euros (£1.8 million pounds) in cash, police said. The blue security van had left the city of Bari and was carrying pensions to be… Read More
3rd January 2019
On the day the United Kingdom leaves the European Union, it will be looking to preserve its current regulatory position on Gibraltar within the Financial Conduct Authority’s (FCA) handbook, the watchdog said. The announcement is in line with the UK’s position that Gibraltar financial services firms should, until December 2020,… Read More
3rd January 2019
New rules designed to combat corporate tax avoidance in the European Union have kicked in. As of 1 January 2019, all member states shall apply new legally binding anti-abuse measures which will see authorities tax profits moved to low-tax countries where the company does not have any genuine economic activity… Read More
3rd January 2019
The much-anticipated Financial Action Task Force (FATF) mutual evaluation of the United Kingdom’s anti-money laundering and counter terror financing regime is out, and with it has come much praise from UK government officials, not least HM Treasury Minister John Glen, who said: “The report recognises that the UK’s AML/CTF regime… Read More