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Money Laundering

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 ...

Money-Laundering, Censorship Fears Fanned in Swiss Gambling Vote

Money-Laundering, Censorship Fears Fanned in Swiss Gambling Vote
All Switzerland wanted to do was introduce rules to legalize online gambling. Instead it crafted a law that critics say amounts to Internet censorship, and sparked a nationwide referendum. The bill approved by both houses of Swiss Parliament late last year ...

How tax havens turn economic statistics into nonsense

How tax havens turn economic statistics into nonsense
It’s no secret that tax havens help launder money, hide what powerful people own, and let giant corporations pay negligible taxes. One thing that’s not often mentioned is how they skew a lot of economic data. A recent IMF ...

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

SOCIAL MEDIA