11th May 2016
Andrew Bailey, the incoming head of the Financial Conduct Authority, said improving the culture of City firms is a priority and that “hubris” needs to be added to the list of risks firms face. Giving his last speech as a deputy governor of the Bank of England before taking up his role at the FCA, Bailey pointed to the over-confidence of the management at major banks as a cause for the taxpayer bailouts and billion of pounds in fines for misconduct in recent years. Read More
11th May 2016
The bookmaker Gala Coral has agreed with the gambling regulator to pay out nearly £880,000 after taking hundreds of thousands of pounds from a “VIP” problem gambler who was using the proceeds of theft to feed his habit. Read More
10th May 2016
City of London police has seized $22m (£15.2m, €19.2m) from a Square Mile clearing house after a broker was arrested on suspicion of laundering money for a Russian gang using the futures market.Detectives took possession of four cheques under the Proceeds of Crime Act from the company on Friday 6 May after it closed down the suspect's five dollar-trading accounts. Read More
9th May 2016
The UK’s sovereignty over a third of the world’s tax havens means it is “uniquely placed” to lead the crackdown on corruption, a group of 300 economists has said. Read More
9th May 2016
Prime Minister David Cameron has said he wants to put tackling corruption at the "top of the international agenda" ahead of a London summit on the issue. Read More
6th May 2016
Efforts to scrutinise potential money-laundering in Britain are hitting some last-minute lumps in the road. The Bank of England and Financial Services Bill has been making its way through parliament since October last year and is now in the so-called “ping-pong” stage of trade-offs and amendments between the House of Commons and House of Lords before it becomes law. Read More
6th May 2016
Philippe Hébert, chief risk officer at Barclays France, has alleged that the British bank's French operations are involved in money laundering and mis-selling. Barclays France is also alleged to have had serious shortcomings with regards to its conduct, compliance and control standards. Read More
6th May 2016
A global anti-corruption agency designed to track dirty money and crack down on tax evasion, expected to be tabled by Prime Minister David Cameron next week, will have no law enforcement powers whatsoever, it has emerged. Read More
5th May 2016
Royal Bank of Scotland has been eye-balling its shareholders at the annual general meeting in Edinburgh, with a warning that the legacy of its misdeeds requires yet more clearing up. Read More
4th May 2016
Portion of $230m fraud pot was splashed on private education and luxury goods in Britain, home affairs committee hears. Read More