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BANKING NEWS

US Treasury Department targets Singapore for money laundering

US Treasury Department targets Singapore for money laundering
Last month, the Asia Sentinel reported that the US Treasury Department has initiated a wide-ranging campaign against money laundering particularly targeting the governments in Cyprus, Beirut, Singapore and the Gulf states ('US Mounts Major Global ...

ECB Looks at Deutsche Bank, BNP, SocGen's Trading Books

ECB Looks at Deutsche Bank, BNP, SocGen's Trading Books
The European Central Bank has been taking a closer look at the trading books of three of the euro-zone’s biggest lenders, according to people briefed on the matter. The Frankfurt-based supervisor asked BNP Paribas SA, Deutsche Bank ...

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 ...

Who's behind the blog

Who's behind the blog

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