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BANKING NEWS

India's Canara bank fined in UK for anti-money laundering breaches

India's Canara bank fined in UK for anti-money laundering breaches
LONDON (Reuters) - Britain’s markets regulator has fined the UK division of India’s Canara Bank (CNBK.NS) 896,100 pounds ($1.2 million) and blocked it from accepting new deposits for around five months for systemic anti-money laundering (AML) failures.The ...

Société Générale fined $860 million for bribes and rate manipulation

Société Générale fined $860 million for bribes and rate manipulation
Société Générale will pay more than $860 million in fines for bribing Libyan officials and manipulating a benchmark lending rate. Between 2004 and 2009, the French bank paid $90 million in bribes to a Libyan broker, who then paid Libyan officials, the US ...

Commonwealth Bank agrees to pay $700m to settle money laundering lawsuit

Commonwealth Bank agrees to pay $700m to settle money laundering lawsuit
The Commonwealth Bank has agreed to pay $700m to settle civil proceedings relating to breaches of anti-money laundering and counter-terrorism financing laws. If the federal court accepts the offer it will be the largest civil penalty in Australia’s ...

ANZ, Deutsche Bank and Citigroup face 'criminal cartel' charges

ANZ, Deutsche Bank and Citigroup face 'criminal cartel' charges
Financial institutions ANZ, Deutsche Bank and Citigroup will be prosecuted on criminal cartel charges, Australia's consumer watchdog says. The allegations concern arrangements for the sale of A$2.5bn (£1.4bn; $1.9bn) worth of ANZ shares in 2015. The three ...

S&P Cuts Deutsche Bank Rating in Latest Blow for Sewing’s Revamp

S&P Cuts Deutsche Bank Rating in Latest Blow for Sewing’s Revamp
Deutsche Bank AG’s new chief executive officer, Christian Sewing, suffered a fresh setback in his efforts to reinvigorate Europe’s largest investment bank as S&P Global Ratings cut the lender’s credit rating. S&P reduced the rating by one notch to BBB+, the ...

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Who's behind the blog

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