28th February 2019
New York State-chartered banks spent significant sums on third-party consultancies and in-house compliance upgrades to meet a New York State deadline last year, say industry advisors. Under rules finalized by the state’s Department of Financial Services (DFS) in 2016, banks and other covered businesses must implement and periodically update “end-to-end”… Read More
28th February 2019
Israel’s attorney-general announced on Thursday he intends to indict Prime Minister Benjamin Netanyahu on corruption charges, a decision coming just six weeks before a closely contested national election. It was the first time a serving Israeli prime minister has been put on official notice of planned prosecution, and deepened uncertainty… Read More
28th February 2019
The U.S. embassy in Sweden has asked the country’s financial watchdog FI for a meeting to discuss allegations about Swedbank’s involvement in a Baltic money-laundering scandal. The move raises questions whether the U.S. authorities will seek to investigate Swedbank. A FI spokesman said on Thursday it had received a letter… Read More
28th February 2019
AP — The founder of a purported cryptocurrency company has been charged with cheating investors out of millions of dollars by selling fake virtual money he falsely claimed was backed by gold. Federal prosecutors in Massachusetts say My Big Coin Pay Inc. founder Randall Crater of East Hampton, New… Read More
28th February 2019
A former U.S.-based oil trader sought in Brazil over a multimillion-dollar bribery scheme involving commodities traders Vitol, Glencore and Trafigura has agreed to plead guilty to conspiracy to commit money-laundering in the United States, court records show. The plea is part of a cooperation agreement by a key figure in… Read More
28th February 2019
AP — Talks between President Donald Trump and North Korea’s Kim Jong Un collapsed Thursday after the two sides failed to bridge a standoff over U.S. sanctions, a dispiriting end to high-stakes meetings meant to disarm a global nuclear threat. Trump blamed the breakdown on North Korea’s insistence that… Read More
28th February 2019
The United Kingdom’s sanctions enforcer levied a £5,000 monetary penalty against London-based Raphaels Bank, marking the first time the agency has imposed a fine since its creation in 2016. The Office of Financial Sanctions Implementation (OFSI) imposed the penalty for an unspecified violation of an Egyptian asset freezing order involving a £200… Read More
27th February 2019
The European Union should set up a police force to investigate tax evasion and financial crime and create a watchdog to counter money-laundering, EU lawmakers said in a report on Wednesday, which accuses seven member states of acting as tax havens. The report is the result of a year’s work… Read More
27th February 2019
AP—Ukraine’s Constitutional Court has struck down a law against officials enriching themselves, a move that raises concern about the country’s fight against endemic corruption and about whether it can get further aid from the International Monetary Fund. The Ukrainian branch of Transparency International said Wednesday that the decision meant… Read More
27th February 2019
AP – Montenegro has issued an international arrest warrant for a fugitive banker who is a former close ally-turned-foe of long-serving President Milo Djukanovic. Police said Wednesday an Interpol warrant has been issued for Dusko Knezevic, who is in London, according to local media, after fleeing Montenegro to avoid… Read More