28th June 2016
The regulator that monitors UK financial reporting is to investigate two of the big four accountancy firms over their role in the failures of the retailer BHS and the banking group HBOS. The Financial Reporting Council, responsible for overseeing UK accounting standards, began an investigation into PricewaterhouseCoopers over its audit… Read More
27th June 2016
Acting chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, has reiterated his commitment to prosecute any corrupt individual or institutions despite being critized heavily for selective anti-graft campaign. Mr Magu expressed worries over the involvement of banks in money laundering sounding out ‘private banking’ as the vehicle for… Read More
27th June 2016
The EU is preparing to move its European Banking Authority from London following Britain’s vote to leave the Union, EU officials said on Sunday, setting up a race led by Paris and Frankfurt to host the regulator. Coming a day after Britain’s Jonathan Hill resigned and was replaced as EU… Read More
16th June 2016
The U.S. attorney’s office in Manhattan has opened an investigation of the cyber heist of $81 million from Bangladesh Bank’s account at the Federal Reserve Bank of New York, a law enforcement source said. Preet Bharara, the U.S. attorney for the Southern District of New York, is investigating the February… Read More
6th June 2016
Hours before the Federal Reserve Bank of New York approved four fraudulent requests to send $81 million from a Bangladesh Bank account to cyber thieves, the Fed branch blocked those same requests because they lacked information required to transfer money, according to two people with direct knowledge of the matter. Read More
6th June 2016
Digital currencies will be covered in updated regulation. Banks’ know-your-client operations under tighter scrutiny. Read More
26th May 2016
Brits who use online banking services vulnerable to criminal hackers could be made liable for financial losses stemming from theft, as intelligence officials, central bankers and Downing Street seek to shirk responsibility. Read More
25th May 2016
Main provider of cross-border bank payment messages criticises failure to pass on information Read More
As scrutiny around governments’ investments increases following the 1MDB saga and the release of the Panama Papers, will SWFs, governments, or national regulators be persuaded of the need for a wide-ranging drive towards greater transparency? Read More
18th May 2016
To further enhance the cyber resilience of the banking sector in Hong Kong, the Hong Kong Monetary Authority (HKMA) announced today the launch of a “Cybersecurity Fortification Initiative” (CFI) at the “Cyber Security Summit 2016” (the ‘Summit’), in which the HKMA also serves as the Programme Advisor for this prestigious event. Read More