15th January 2019
The United Kingdom is set to launch a new initiative aimed at tackling financial crime such as money laundering, fraud and bribery. The new taskforce, to be known as the Economic Crime Strategic Board, will comprise government ministers, law enforcement figures and the bosses of Barclays, Santander and Lloyds… Read More
15th January 2019
The U.S. Federal Reserve is wary of giving “fintech” firms such as OnDeck Capital Inc (ONDK.N) or Kabbage Inc. access to the country’s financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold. The Office of the Comptroller of the Currency (OCC)… Read More
14th January 2019
Standard Chartered’s deferred prosecution agreements (DPAs) with the US Department of Justice and the New York County District Attorney’s Office will be further extended until March 2019. Both deals were reached in 2012, and subsequently extended until 31 December 2018. The bank entered the agreements after it landed in trouble… Read More
14th January 2019
AP — The head of Iran’s nuclear program said Sunday that the Islamic Republic has begun “preliminary activities for designing” a modern process for 20-percent uranium enrichment for its 50-year-old research reactor in Tehran, signaling new danger for the nuclear deal. Restarting enrichment at that level… Read More
14th January 2019
The United Kingdom has announced the new appointment of Bill Dodwell as Tax Director of the Office of Tax Simplification (OTS). As part of his portfolio, Dodwell will provide’ expert advice, guidance and direction’ to the OTS and its Board as a Non-Executive Member, the Treasury department said. OTS… Read More
14th January 2019
HSBC Holdings Plc has agreed to pay $30 million to settle litigation by investors who accused 11 big banks of rigging the roughly $9 trillion government agency bond market from 2009 to 2015. The settlement with the British bank was made public late Wednesday night in the federal court in… Read More
14th January 2019
AP — Chinese tech giant Huawei said Saturday it has fired an employee who was arrested in Poland on spying charges. The allegations against Wang Weijing “have no relation to the company,” Huawei Technologies Ltd. said in a statement. It said Wang was fired because… Read More
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