London judge rules auction-rigging case can go to full trial CommentEmailSavePrint Mar 06 2018 Nick Kochan A London commercial court judge has given a provisional ruling that a case alleging VTB Capital, a Financial Conduct Authority-regulated institution, rigged an auction to sell Bulgaria’s largest telecommunications company, should go to full trial. …
Airbus in talks to settle fraud claims for £1 billion NICK KOCHAN Friday 15 September 2017 12:02 0 comments The Serious Fraud Office and French prosecutors are in close discussion over the terms of a £1 billion-plus settlement for Airbus over corruption allegations. The deal, called a Deferred Prosecution Agreement …
Money laundering practice is in confusion as banks struggle to understand terrorist financing and government fails to support the financial community with resources skills and systems. That is the conclusion of two years of frantic activity and expenditure by the world’s banking system, post September 11. The implications for global …
Casinos are a dream vehicle for the money launderer with dirty notes to absorb into the system. Money goes in and out of casinos with such speed and in such quantities that regulators and cashier struggle to track it efficiently. That is why the law places great reporting burdens on …
Singapore is set to beef up its guidelines against money laundering and terrorist finance. The country’s regulator has announced plans to revise its guidelines regulating financial institutions and the fight money laundering and the funding of terrorism. These will complement the government’s latest laws, passed in 2002, to combat criminal …
Money transfer to war-torn and desperately poor parts of Africa and Asia is booming on the streets of London. Local immigrants from poor countries use a myriad of tiny shops, restaurants, internet cafes and grocery stores to send back money to their home countries in a form of self-help aid …
Private bankers need to know as much as possible about the customers that pass through their doors, and the wealth that they carry. So each customer who wants to open an account is subjected to considerable processes of due diligence. If the customer is a businessman who has made his …
Hong Kong and Singapore face a money laundering clampdown in the next few months as local banking organisations and regulatory authorities launch rulebooks bringing local rules in line with international standards. These standards are recommended by the Financial Action Task Force (FATF) and the Basel Committee. Some Asian financial institutions …
Private bankers need to know as much as possible about the customers that pass through their doors, and the wealth that they carry. So each customer who wants to open an account is subjected to considerable processes of due diligence. If the customer is a businessman who has made his …
published in The Wall Street Journal April 11 2005 The creation, movement and spending of illegal money represents a greater challenge for bankers in Latin and South America than possibly anywhere in the world. The three-fold problem of pervasive illegal drugs production and selling, political corruption and poorly resourced regulatory …
