6th March 2019
AP—Spain and Britain have reached an agreement that sets out stricter rules for companies and citizens operating from Gibraltar, a British overseas territory which Spain considers a colony. As part of the deal, Gibraltar-based companies will be required to pay taxes in Spain if they conduct most of their… Read More
6th March 2019
Two U.S. senators sought to dial up pressure on North Korea on Tuesday by reintroducing a bill to impose sanctions on any bank that does business with its government, with the endorsement of the parents of Otto Warmbier, a U.S. college student who died after being imprisoned by Pyongyang. Republican… Read More
6th March 2019
Switzerland’s central bank launched a new 1,000 Swiss franc (759.4 pounds) note on Tuesday, saying one of the world’s most valuable banknotes catered to the popularity of cash in Swiss culture and was not a help for criminals. The Swiss National Bank’s announcement of the new lilac-coloured note, available from… Read More
6th March 2019
India’s central bank has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India, for failing to comply with its guidelines on the use of global payments network SWIFT. The Reserve Bank of India imposed the fines over the past four days, according… Read More
6th March 2019
AP—Aiming to crack down on money laundering and bribes to overseas governments, the FBI is stepping up its efforts to root out foreign corruption with a new squad of agents based in Miami. The squad will focus its efforts not only on Miami but also in South America, a… Read More
5th March 2019
UK regulators conducted unannounced inspections of 50 estate agents and disclosed fines against Countrywide and other businesses as part of a crackdown on money laundering, HM Treasury said Monday. The surprise reviews by HM Revenue & Customs (HMRC) officers targeted estate agents suspected of failing to register as… Read More
5th March 2019
Australia’s corporate regulator is interviewing top executives at the Commonwealth Bank of Australia as part of an investigation into alleged failure to prevent possible money laundering, the Australian Financial Review (AFR) reported on Tuesday. CBA in 2018 agreed to a civil penalty of A$700 million ($496.23 million) to settle charges… Read More
5th March 2019
Leaked documents indicate that Nordea Bank and other institutions processed billions of euros in suspicious transactions from a network of shell companies, Finnish television network Yle reported Monday. The data leak shows that 700 million euros flowed through the bank despite signs that at least some of the funds could likely… Read More
5th March 2019
AP—Another member of Canadian Prime Minister Justin Trudeau’s Cabinet resigned Monday over a scandal that has shaken the government in an election year. Treasury Board president Jane Philpott, considered a star minister, said in a resignation letter that it was “untenable” for her to continue in the Cabinet because… Read More
5th March 2019
The Trump administration said on Monday it would allow lawsuits by U.S. citizens against dozens of Cuban companies and other entities on Washington’s blacklist but will maintain, for now, a ban against suing foreign firms doing business on the communist-ruled island. The move marked an intensification of U.S. pressure on… Read More