29th June 2020
The Federal Deposit Insurance Corp. is moving to boost the way it monitors for risks at thousands of U.S. banks, potentially scrapping quarterly reports that have been a fixture of oversight for more than 150 years yet often contain stale data. The FDIC on Monday is expected to kick off… Read More
29th June 2020
Arms folded and her lips sardonically askew, Eva makes an unlikely icon for the protest movement that’s shaking Belarus leader Alexander Lukashenko ahead of presidential elections. For starters, “she” is an almost century-old oil painting. Yet the portrait by the Jewish expressionist painter Chaim Soutine has swirled into the… Read More
29th June 2020
A recent revision to U.S. Justice Department guidance on corporate compliance is placing increased emphasis on the role of middle management and access to internal data as it broadens the scope of how prosecutors evaluate companies’ policies and controls. “We wanted to make sure the midlevel management is also echoing… Read More
29th June 2020
A court has granted Daphne Caruana Galizia murder suspect Yorgen Fenech access to millions of euros worth of shares and immovable property which he had inherited, ostensibly as they are not the proceeds of crime. This was the subject of a decree issued on June 18 by Magistrate Rachel Montebello… Read More
29th June 2020
Finalising the European Union’s package of measures to help the economy recover from the COVID-19 pandemic is a “massive priority” for Germany’s presidency of the EU, German Deputy Finance Minister Joerg Kukies said on Friday. EU leaders agreed in April to build a trillion-euro emergency fund to help the 27-nation… Read More
29th June 2020
Sweden’s financial supervisory authority fined Skandinaviska Enskilda Banken AB 1 billion Swedish kronor ($107.3 million) following a delayed review of the bank’s efforts to prevent money laundering at Baltic branches. The regulator, known as the Finansinspektionen, was investigating the bank’s anti-money-laundering governance and controls in Estonia, Latvia and Lithuania. Read More
28th June 2020
For the past year, WikiLeaks founder Julian Assange has sat in a London jail awaiting extradition to the US. This week, the US Justice Department piled on yet more hacking conspiracy allegations against him, all related to his decade-plus at the helm of an organization that exposed reams of… Read More
26th June 2020
In its first global report on the illegal wildlife trade, the Financial Action Task Force (FATF) has described it as a “global threat”, which also has links with other organised crimes like modern slavery, drug trafficking and arms trade. The illegal trade is estimated to generate revenues of up to… Read More
26th June 2020
Novartis AG and a former subsidiary of the Swiss drugmaker agreed to pay a combined $347 million to resolve allegations that the companies ran schemes to bribe public hospitals and clinics in Greece, Vietnam and South Korea, U.S. authorities said Thursday. The settlements with Novartis and its former… Read More
26th June 2020
Pakistan received another extension on the “greylist”, as the Financial Action Task Force (FATF) plenary session on Wednesday decided to continue all countries under scrutiny for Terror Financing and Money Laundering until October 2020. However, Islamabad faced setbacks on other fronts, with the United States slamming its record on terrorism,… Read More