7th April 2021
Two former Societe Generale SA bankers are challenging Swiss fines issued for failing to report suspicious deposits worth more than $700 million made by a one-time ally of Russian President Vladimir Putin. The former head of SocGen’s Swiss private bank and the ex-head of compliance, who… Read More
7th April 2021
U.S. prosecutors said on Tuesday they charged the president of a New York cosmetics company for his alleged involvement in a conspiracy to violate U.S. economic sanctions on Iran. Michael Rose, president of Forsythe Cosmetics Group LLC, is accused of skirting U.S. sanctions between 2015 and 2018 by arranging for… Read More
6th April 2021
Japan’s largest bank will rebuild its 40-year-old headquarters in Tokyo’s financial district as the lender prepares for a post-Covid world that will also see some compliance roles shift to India. The new building will “significantly reduce” facility expenses for the financial group by bringing together about 19,000 workers who are… Read More
6th April 2021
The Central Bank of UAE released new regulations for small to medium-sized enterprises (SMEs) aimed at promoting “best practices among licenced financial institutions when engaging with SMEs”. The purpose of the regulation was to improve SMEs’ access to financial products and services, following the launch of its new regulatory framework… Read More
6th April 2021
AP — Japan extended its own sanctions against North Korea for another two years as Pyongyang continues to develop its nuclear weapons without any progress in resolving the abductions of Japanese nationals. Japan bans all trade between the countries and prohibits North Korean-registered ships from entering… Read More
6th April 2021
A sophisticated human trafficking network dismantled in Colombia, illustrates a pattern in how Venezuelan citizens, particularly women, are recruited. On March 27, Colombian authorities managed to arrest and indict members of an organized criminal group (Grupo de Delincuencia Organizado – GDO) known as “Los PEP,” who… Read More
6th April 2021
An Indian court on Tuesday dealt a blow to China’s ByteDance by dismissing its plea to unblock its bank accounts which have been frozen by federal authorities investigating alleged tax evasion. An Indian tax intelligence agency in mid-March ordered HSBC and Citibank in Mumbai to freeze accounts of ByteDance India… Read More
6th April 2021
Singapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year. “Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the… Read More
6th April 2021
For the first time in the country’s history, South Korean prosecutors have sold bitcoin confiscated from criminals, CoinDesk Korea reported. The sale turned a profit of around 12.3 billion won (around US$10.9 million), which has been transferred to the national treasury. On April 1, the Suwon… Read More
6th April 2021
U.S. Treasury Secretary Janet Yellen said on Monday that she is working with G20 countries to agree on a global corporate minimum tax rate to end a “30-year race to the bottom on corporate tax rates.” In prepared remarks to the Chicago Council on Global Affairs, Yellen said she also… Read More