21 Sep 2018

U.S. sanctions China for buying Russian fighter jets, missiles

The Trump administration imposed sanctions on the Chinese military on Thursday for buying fighter jets and missile systems from Russia, in breach of a sweeping U.S. sanctions law punishing Moscow for meddling in the 2016 U.S. election. In Beijing, the Chinese government expressed anger and demanded the sanctions be withdrawn. [...] read more

U.S. sanctions China for buying Russian fighter jets, missiles
21 Sep 2018

Danske CEO resigns over $234 billion money laundering scandal

Danske Bank CEO Thomas Borgen is to step down from his position following a widely publicised investigation which detailed how billions of dirty cash was possibly laundered through its Estonian branch. Details of the money laundering scandal, which involved 200 billion euros ($234 billion) flowing through Danske’s systems, were exposed [...] read more

Danske Bank CEO resigns over $234 billion money laundering scandal
21 Sep 2018

Under fire Danske Bank faces fresh money laundering inquiry

Danske Bank (DANSKE.CO) faced a new Danish money laundering inquiry on Thursday as political anger spread over a scandal involving 200 billion euros (177 billion pounds) in payments, many of which were suspicious, through Estonia. Chief Executive Thomas Borgen resigned on Wednesday after an investigation commissioned by Danske Bank exposed [...] read more

Under fire Danske Bank faces fresh money laundering inquiry
21 Sep 2018

Japan hit by another cryptocurrency heist, $60 million stolen

Japanese cryptocurrency firm Tech Bureau Corp said about $60 million (£45.6 million in digital currencies were stolen from its exchange, highlighting the industry’s vulnerability despite recent efforts by authorities to make it more secure. Tech Bureau, which had already been slapped with two business improvement orders by regulators this year, [...] read more

Japan hit by another cryptocurrency heist, $60 million stolen
21 Sep 2018

Egypt court orders release of former president’s sons

AP – An Egyptian court on Thursday ordered the release from detention of former president Hosni Mubarak’s two sons, overturning a ruling by another court whose judge surprisingly told police to arrest them and send them to prison. The judge in the Sept. 15 hearing ordered the detention of wealthy [...] read more

Tesla, Musk face SEC wrist slap at worst, experts say
20 Sep 2018

KPMG admits misconduct in compliance reports for BNY Mellon

Big Four auditor KPMG has admitted to misconduct over its compliance reports for the Bank of New York Mellon, the UK accounting regulator said. According to the Financial Reporting Council (FRC), KPMG and one of its senior partners failed to give adequate consideration as to whether the records of custody [...] read more

KPMG admits misconduct in compliance reports for BNY Mellon
20 Sep 2018

Banks, traders launch first commodities blockchain platform

Global banks and trading firms are launching the first blockchain-based platform for financing the trading of commodities from oil to wheat, they said in a joint statement on Wednesday. The platform will be run by a venture called komgo SA, based in Geneva, Switzerland, and is due to go live [...] read more

Banks, traders launch first commodities blockchain platform
20 Sep 2018

U.S. seeking to negotiate a treaty with Iran

The United States is seeking to negotiate a treaty with Iran to include Tehran’s ballistic missile program and its regional behavior, the U.S. special envoy for Iran said on Wednesday ahead of U.N. meetings in New York next week. Iran has rejected U.S. attempts to hold high-level talks since President [...] read more

U.S. seeking to negotiate a treaty with Iran
20 Sep 2018

U.S. prosecutors charge three men in $364 million Ponzi scheme

Federal prosecutors have accused three men of portraying themselves as investment professionals and using a phony portfolio of consumer debt to defraud hundreds of unwary investors out of tens of millions of dollars as part of a $364 million Ponzi scheme. Kevin Merrill of Maryland, 53, Jay Ledford of Texas [...] read more

U.S. sanctions China for buying Russian fighter jets, missiles
19 Sep 2018

US regulator awards $54 million to two whistleblowers

The Securities and Exchange Commission (SEC) is awarding $39 million to a whistleblower, the second-largest award in the history of its whistleblower programme, as well as $15 million to another. The SEC said the information and assistance it was given helped it bring an ‘important enforcement action.’ Jane Norberg, Chief [...] read more

SEC awards $33m to single whistleblower Dodd-Frank US financial services
19 Sep 2018

UK’s ‘Wild West’ crypto market should be regulated, say lawmakers

Britain’s cryptocurrency market resembles the Wild West and should be regulated, lawmakers said on Wednesday, urging the government to bring to heel a sector plagued by volatile price swings, vulnerability to hacking and weak consumer protection. The government’s current approach to the sector is vague and unsustainable, Parliament’s Treasury Committee [...] read more

UK's 'Wild West' crypto market should be regulated, say lawmakers
19 Sep 2018

Switzerland seeks bank access to Israeli markets

Switzerland has asked Israel to open its markets so Swiss banks can trade funds there, a senior Finance Ministry official said. Israel allows European Union banks market access, but not Switzerland as it is not an EU country and has different regulations from countries inside the bloc. “We need market [...] read more

Switzerland seeks bank access to Israeli markets
18 Sep 2018

Denmark to tighten money laundering laws amid Danske Bank scandal

Denmark will tighten its anti-money laundering laws, politicians said on Monday, amid investigations into the country’s largest lender Danske Bank (DANSKE.CO) over past failings in its money laundering controls in Estonia. The move comes as a series of scandals in Europe have undermined trust in authorities’ ability to tackle money [...] read more

Denmark to tighten money-laundering laws amid Danske Bank scandal
18 Sep 2018

Wall Street salaries highest since 2008 crisis, report finds

AP — Salaries on Wall Street rose last year to their highest level since the 2008 financial crisis, according to a report issued Monday by New York state Comptroller Thomas DiNapoli. The report puts the average salary in New York City’s securities industry in 2017 at $422,500, a 13 percent [...] read more

Wall Street salaries highest since 2008 crisis, report finds
18 Sep 2018

Amazon investigating claims of employees leaking data for bribes

Amazon.com Inc (AMZN.O) said on Monday it was investigating suspected internal leaks of confidential information by its employees for bribes to remove fake reviews and other seller scams from its website. Amazon employees are offering internal data and other classified information through intermediaries, to independent merchants selling their products on [...] read more

Amazon investigating claims of employees leaking data for bribes
17 Sep 2018

Nigerian Finance Minister Adeosun resigns over forgery claims

Nigerian President Muhammadu Buhari on Friday accepted the resignation of Finance Minister Kemi Adeosun, who said she stepped down over allegations of using a forged certificate to avoid participation in the country’s mandatory one-year national youth service scheme. Adeosun, a top cabinet member and a former investment banker who promoted [...] read more

Nigerian Finance Minister Adeosun resigns over forgery claims
17 Sep 2018

Jordaan cleared for FIFA Council despite bribery link

AP – South African soccer head Danny Jordaan has been cleared in an ethics check to stand for election to the FIFA Council three years after he was linked to alleged bribery. The Confederation of African Football said in an internal memo seen by The Associated Press on Thursday that [...] read more

Jordaan cleared for FIFA Council despite bribery link
14 Sep 2018

Malaysia charges ex-PM Najib’s lawyer with money laundering

A lawyer representing former Malaysian prime minister Najib Razak was charged with money laundering on Thursday, as anti-corruption agents try to retrieve billions of dollars siphoned off from a scandal-plagued state fund. The charges against Muhammad Shafee Abdullah come as a blow for Najib who is fighting charges of criminal [...] read more

Former Malaysian PM Najib Razak to face 21 money laundering charges - police
14 Sep 2018

EU court upholds EU sanctions vs Russian banks, companies over Ukraine crisis

The European Union’s general court upheld on Thursday the bloc’s sanctions against Russian banks and oil and gas companies over their involvement the turmoil in Ukraine. Rosneft, Sberbank, VTB Bank, Gazprom Neft, Vnesheconombank, Prominvestbank and DenizBank challenged the EU sanctions, which restrict their access to some financial transactions and certain [...] read more

EU court upholds EU sanctions vs Russian banks, companies over Ukraine crisis
13 Sep 2018

Swiss parliament approves corporate tax overhaul

The Swiss parliament approved a corporate tax overhaul on Wednesday that it hopes will stave off the danger of it landing on a European Union blacklist of uncooperative tax havens. The lower house of parliament backed the package, which controversially links tax reforms to extra funding for the state pension [...] read more

EU tax blacklist: SWISS PARLIAMENT APPROVES CORPORATE TAX OVERHAUL
13 Sep 2018

Trump signs order to enable sanctions for U.S. election meddling

Under fire over his handling of Russian election meddling, U.S. President Donald Trump signed an executive order on Wednesday meant to strengthen election security by slapping sanctions on foreign countries or people who try to interfere in the U.S. political process. The order, coming only eight weeks before congressional elections [...] read more

Trump signs order to enable sanctions for U.S. election meddling