16 Jul 2018

Microsoft raises alarms about face recognition

AP — Microsoft is calling on Congress to regulate the use of facial recognition technology to protect people’s privacy and freedom of expression. It’s the first big tech company to raise serious alarms about an increasingly sought-after technology for recognizing a person’s face from a photo or through a camera. [...] read more

16 Jul 2018

Russia blasts Greece over cybercrime suspect’s extradition

AP — A Greek court agreed Friday to extradite a Russian cybercrime suspect to France, a decision the Russian government protested and which could further sour relations between the two countries after Greece expelled two Russian diplomats. The court in the northern city of Thessaloniki ruled in favor of France’s [...] read more

Russia blasts Greece over cybercrime suspect’s extradition
16 Jul 2018

Wells Fargo 2Q earnings fall as impact of scandals linger

AP — Wells Fargo & Co., which has been mired in investigations related to its business practices, said Friday that its second-quarter earnings fell to $5.19 billion from $5.86 billion a year ago. The bank also revised its first-quarter earnings downward after agreeing in April to pay $1 billion in [...] read more

Wells Fargo 2Q earnings fall as impact of scandals linger
13 Jul 2018

Fed orders United Bank Ltd. to toughen money laundering policies

The Federal Reserve on Thursday ordered United Bank Limited to toughen its anti-money laundering policies as the regulator faulted the Pakistani bank for not doing enough to track suspicious transactions. The Thursday order is at least the second time that the Fed has sanctioned the Pakistan-based bank in recent years. [...] read more

Fed orders United Bank Ltd. to toughen money laundering policies
13 Jul 2018

Factbox: UK plans to stay in Europol and Eurojust after Brexit

Prime Minister Theresa May published her blueprint for Britain’s future relations with the European Union on Thursday, proposals which would keep close trade ties after Brexit but make it harder for banks to access the European single market. British Prime Minister Theresa May published her blueprint for relations with the [...] read more

Factbox: UK plans to stay in Europol and Eurojust after Brexit
13 Jul 2018

Ugandan lawmakers to get sharpshooters and armoured cars for security

President Yoweri Museveni has approved increased security spending for Uganda’s 456 members of parliament – including on sharpshooters and armoured escort vehicles – after a ruling party lawmaker was shot dead. Critics said the spending was wasteful and failed to address security concerns of normal citizens who fear rampant crime [...] read more

Ugandan lawmakers to get sharpshooters and armoured cars for security
12 Jul 2018

EU watchdog criticizes Malta for anti-money laundering shortcomings

The European Union’s top banking watchdog has found “general and systematic shortcomings” in Malta’s application of EU anti-money-laundering rules, it said on Wednesday. The European Banking Authority’s (EBA) criticism came as it concluded an enquiry into the way Malta’s anti-money laundering watchdog the Maltese Financial Intelligence Analysis Unit (FIAU), investigated [...] read more

EU watchdog criticizes Malta for anti-money laundering shortcomings
12 Jul 2018

Glencore sets up board committee on U.S. money-laundering probe

Glencore Plc has established a board committee to oversee the mining company’s response to U.S. authorities’ demands for documents on its business in the Democratic Republic of Congo, Venezuela and Nigeria as part of a corruption probe. The committee comprises of Chairman Tony Hayward and Independent Non-Executive Director Leonhard Fischer [...] read more

Glencore sets up board committee on U.S. money-laundering probe
11 Jul 2018

UK lawmaker says fine imposed on Facebook over user privacy

AP — The chairman of the U.K. Parliament’s media committee says the government office that investigated the Cambridge Analytica scandal has fined Facebook 500,000 pounds ($663,000) for failing to safeguard users’ data. Damian Collins said the Information Commissioner’s Office concluded that Facebook “contravened the law by failing to safeguard people’s [...] read more

UK lawmaker says fine imposed on Facebook over user privacy
11 Jul 2018

U.S. ambassador urges Germany to block Iran cash withdrawal

The U.S. ambassador to Germany urged Berlin on Tuesday to stop Iran withdrawing large sums of cash from bank accounts in Germany to offset the effect of new U.S. sanctions imposed after Washington withdrew from a 2015 nuclear deal. Richard Grenell, a longtime critic of the accord, told the mass-circulation [...] read more

U.S. ambassador urges Germany to block Iran cash withdrawal
11 Jul 2018

Ukraine’s PrivatBank open to settlement with former owners

Ukraine’s biggest bank does not rule out settling a legal dispute with its former main shareholders out of court, the head of PrivatBank’s supervisory board said on Tuesday. The Ukrainian authorities took PrivatBank into state hands in December 2016 and have spent nearly $6 billion so far to plug a [...] read more

Ukraine’s PrivatBank open to settlement with former owners
11 Jul 2018

Appeals court backs $10B Volkswagen emissions cheating deal

AP — A U.S. appeals court on Monday approved a $10 billion settlement between Volkswagen and car owners caught up in the company’s emissions cheating scandal. The deal delivered “tangible, substantial benefits” and the federal judge who approved it did more than enough to ensure it was fair, a three-judge [...] read more

Appeals court backs $10B Volkswagen emissions cheating deal
11 Jul 2018

Switzerland investigates six people in 1MDB money laundering probe

Switzerland is investigating six people on suspicion of money laundering, bribing foreign officials and other offences as part of an investigation into Malaysian state fund 1MDB, the Swiss attorney general’s office said on Tuesday. Swiss authorities suspect funds raised for economic development projects by 1MDB and a former unit, SRC [...] read more

Switzerland investigates six people in 1MDB money laundering probe
11 Jul 2018

Odebrecht signs new leniency deal with Brazil authorities

Industrial conglomerate Odebrecht SA has signed a leniency deal with Brazil’s attorney general and comptroller general expanding on an agreement with federal prosecutors that set terms for its cooperation in a massive graft probe, authorities said on Monday. Odebrecht has been at the center of a global corruption investigation involving [...] read more

Odebrecht signs new leniency deal with Brazil authorities
11 Jul 2018

Tax evasion: Cuba lifting freeze on new private tourism businesses

AP — A 16-month freeze on new private restaurants and bed-and-breakfasts will end in December when Cuba’s communist government implements new regulations meant to prevent tax evasion and the accumulation of wealth, state media said Tuesday. Cuban officials who announced the change said that the private sector had become a [...] read more

Tax evasion: Cuba lifting freeze on new private tourism businesses
10 Jul 2018

Romania’s president removes chief anti-corruption prosecutor

Romania’s President Klaus Iohannis sacked chief anti-corruption prosecutor Laura Codruta Kovesi on Monday to honor a constitutional court ruling which Kovesi said may leave prosecutors exposed to political interference. Kovesi has led the DNA anti-corruption agency since 2013 and, under her management, conviction rates have risen sharply in one of [...] read more

Romania’s president removes chief anti-corruption prosecutor
10 Jul 2018

UK regulator FCA proposes directory of financial services workers

Britain’s Financial Conduct Authority (FCA) has proposed a new directory of individuals employed in the UK financial services sector, a move it hopes will reassure the public that listed individuals are ‘fit and proper’ for their roles. The directory will include more information about individuals working in financial services than [...] read more

UK regulator FCA proposes directory of financial services workers
09 Jul 2018

Boris Johnson quits UK government in mounting Brexit crisis

AP — British Foreign Secretary Boris Johnson resigned Monday, adding to divisions over Brexit that threaten to tear apart Prime Minister Theresa May’s government. May’s office said in a terse statement that the prime minister had accepted Johnson’s resignation and would name a replacement soon. Johnson, one of the best-known [...] read more

Boris Johnson quits UK government in mounting Brexit crisis
09 Jul 2018

Son of former South African president Zuma to face charges

Duduzane Zuma, the son of scandal-plagued former South African president Jacob Zuma, will face charges relating to allegations of corruption, his lawyer said on Sunday. Duduzane Zuma was returning to South Africa to attend his brother’s funeral when he was detained briefly at Johannesburg’s main airport on Friday in relation [...] read more

Son of former South African president Zuma to face charges
09 Jul 2018

Putin urges closer international cybersecurity cooperation

AP — President Vladimir Putin on Friday called for closer international cooperation in fending off cyberattacks. Addressing a cybersecurity conference in Moscow, Putin said it’s important to develop common cybersecurity standards that take into account interests of all nations. He noted that cyberthreats have mounted around the world. “Cyberthreats have [...] read more

Putin urges closer international cybersecurity cooperation
06 Jul 2018

Google says Google Documents is secure despite Russian issue

AP — Google said Thursday that its document writing tool Google Documents was secure even as Russian internet users discovered scores of files that appeared to be intended for private use. The Russian internet company Yandex said in a statement that some users contacted the company Wednesday to say that [...] read more

Rights group questions DEA exploit of encrypted cellphones
06 Jul 2018

Sanctioned Russian oligarch linked to Cohen has vast US ties

AP — Long before Viktor Vekselberg was tied to a scandal over the president and a porn star, the Russian oligarch had been positioning himself to extend his influence in the United States. Working closely with Andrew Intrater, an American cousin who heads the New York investment management firm Columbus [...] read more

Sanctioned Russian oligarch linked to Cohen has vast US ties