Banking
27th August 2021
The United States is taking steps to allow humanitarian work to continue in Afghanistan despite U.S. sanctions on the Taliban, which seized power 11 days ago. A U.S. Treasury Department official said President Joe Biden’s administration has contacted humanitarian partners in Afghanistan in recent days about their continued ability to… Read More
27th August 2021
Hong Kong police have arrested nine people in a crackdown on a bookmaking and money-laundering syndicate that washed an estimated HK$30 million ($3.85 million) in criminal proceeds over a 10-month period. The five men and four women, arrested during a series of Thursday raids across the city, included three core… Read More
27th August 2021
Afghanistan’s banks, critical to the country’s recovery from crisis, are facing an uncertain future say its bankers, with doubts over everything from liquidity to employment of female staff after the Taliban swept to power. Banks were expected to reopen imminently, a Taliban spokesman said on Tuesday, after they were closed… Read More
27th August 2021
By David Klein, OCCRP, 26 August 2021 OCCRP – With as much as US$20 billion generated annually, the illegal wildlife trade is a massive and global business that is becoming increasingly difficult to police as much of it has been moved into cyberspace, according to the… Read More
27th August 2021
National Australia Bank has been hit with an $18.5 million fine for breaking the law in its financial planning division. Federal Court Justice Jennifer Davies said in her judgment on Thursday the bank had made “false or misleading representations” about what clients were getting for their fees and how much… Read More
26th August 2021
The proliferation of cybercrime, especially with the heightened digitalization of financial transactions amid the pandemic, has made it imperative for Congress to pass the proposed Bank Account and E-Wallet Regulation Act to further protect the financial system, the banking community said. The proposed legislation under House Bill No. 9615 punishes… Read More
26th August 2021
Danske Bank A/S and former top executives on Wednesday defeated an appeal in New York by shareholders claiming they were defrauded because the Danish bank allowed widespread money laundering at its former Estonian branch. The lawsuit began after Danske said in September 2018 that an internal probe had uncovered about… Read More
26th August 2021
The World Bank said on Tuesday that it had halted disbursements of aid money to Afghanistan as it assesses how the Taliban plan to rule the country. A World Bank spokesperson said that the international development organization is “deeply concerned” about the situation in Afghanistan, particularly the impact that the… Read More
26th August 2021
The United States Department of the Treasury on Monday sanctioned an Eritrean official it accused of engaging in serious human rights abuses committed during the ongoing conflict in Ethiopia’s Tigray region. The Treasury’s Office of Foreign Assets Control (OFAC) is blacklisting General Filipos Woldeyohannes, the chief of staff of the… Read More
26th August 2021
Anti-money laundering (AML) systems and internal rules at Estonian bank Luminor need improving, the financial supervisory authorities of all three Baltic States have found. Estonia’s financial supervisory authority, the Finantsinspektsioon, along with the the Financial and Capital Market Commission (Latvia) and Lietuvos bankas (Lithuania) had carried out an on-site inspection… Read More