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BANKING NEWS

Swiss bank settles US tax evasion probe

Swiss bank settles US tax evasion probe
The Zurich-based Neue Privat Bank (NPB) has paid $5 million (CHF5 million) fine to settle a criminal tax evasion investigation in the United States. NPB is one of a handful of so-called ‘category 1’ Swiss or Swiss-based bank branches that were still facing ...

Revolut reports suspected money laundering to UK authorities

Revolut reports suspected money laundering to UK authorities
LONDON (Reuters) - Digital bank Revolut has reported suspected money laundering activities on its network to British law enforcement and regulatory agencies, a spokesman said on Tuesday, adding that the sums of money involved were not significant. The ...

EU watchdog criticizes Malta for anti-money laundering shortcomings

EU watchdog criticizes Malta for anti-money laundering shortcomings
BRUSSELS (Reuters) - 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 ...

Pension fund freezes investment in Danske Bank over money laundering scandal

Pension fund freezes investment in Danske Bank over money laundering scandal
COPENHAGEN (Reuters) - A large Danish pension fund said on Friday it has temporarily frozen investments in Danske Bank (DANSKE.CO), piling further pressure on the bank over its involvement in money laundering in Estonia.The scandal facing Danske Bank has ...

London's Bankers Are an Unproductive Bunch

London's Bankers Are an Unproductive Bunch
Productivity growth in the city’s finance sector has been worse than that of retail.Being a banker in London is probably the very definition of belonging to “the 1 percent.” Yet only one in three is satisfied with his or her pay, according to one ...

Who's behind the blog

Who's behind the blog

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