4th December 2019
Swiss financial markets supervisor FINMA must reconsider its confiscation of 95 million Swiss francs ($95.27 million) from Banca della Svizzera Italiana (BSI), after a court called its calculation of the amount seized “incomprehensible”. BSI was bought by EFG International in 2016 from Brazil’s BTG Pactual after becoming tangled in legal… Read More
4th December 2019
Banks are no longer required to file suspicious activity reports on customers who cultivate hemp, industry regulators said. A group of financial regulators on Tuesday clarified the compliance requirements for banks whose customers produce hemp, a variety of the cannabis plant that is often used for its fiber… Read More
4th December 2019
Nordea Bank is free to prevent its employees from investing in Bitcoin and other cryptocurrencies in their own time, a Danish court ruled. The risks associated with cryptocurrencies justify the restriction, according to a verdict published on the Copenhagen-based court’s website late Monday. Denmark’s union for financial industry… Read More
4th December 2019
Ukraine’s state prosecutor office said on Tuesday that Kostyantin Zhevago, the former chief executive of London-listed iron pellet producer Ferrexpo, had been put on an international wanted list. Prosecutors said in a statement they wanted to detain a former lawmaker and former beneficiary owner of Finance & Credit Bank. Tuesday’s… Read More
4th December 2019
Europe’s finance chiefs are to confront a wave of money-laundering scandals within the banking industry by recommending that a regional agency be formed to prevent such crimes. Officials will call on the European Commission, the EU’s executive arm, to further consider and make a proposal for setting up a common… Read More
3rd December 2019
Several figures close to Namibian President Hage Geingob have been filmed discussing the laundering of political contributions, an Al Jazeera investigation has revealed. In Anatomy of a Bribe, Al Jazeera’s Investigative Unit exposes corruption in Namibia‘s fishing industry, implicating the country’s now former minister of fisheries and marine resources,… Read More
3rd December 2019
As the sun sinks in Juba, South Sudan’s capital, a 29-year-old policeman has just finished his shift. Out of view of a busy street, he changes into civilian clothes before class at a nearby university. Abraham Malual Akol Dhel, a father of two, says he’s hoping to retrain into another… Read More
3rd December 2019
Malaysia’s former leader Najib Razak started his testimony to defend against allegations involving 42 million ringgit ($10 million) of bribes in a case involving a former unit of troubled state fund 1MDB. He read out his statement slowly in a packed courtroom in Kuala Lumpur on Tuesday. In his testimony,… Read More
3rd December 2019
The European Commission has asked Malta to clarify how it intends to address Bank of Valletta’s shortcomings over its monitoring of foreign customers who applied to buy Maltese citizenship under a so-called “golden passport” scheme. Malta, with a population of only 420,000, has sought to attract foreign capital with schemes… Read More
3rd December 2019
A Belgian lawyer appeared in a Geneva court on Monday accused of money-laundering and falsifying documents in a case involving Belgium’s richest family, who say she swindled missing shares in brewer InBev worth some $60 million today. The woman, who denies the charges, was convicted in 2016 by a Luxembourg… Read More