Search Results for: money laundering
MAS directs Swiss Bank “BSI Bank” to shut down in Singapore
May 24th, 2016
The Monetary Authority of Singapore (MAS) announced today that it has served BSI Bank Limited (BSI Bank) notice of intention to withdraw its status as a merchant bank in Singapore for serious breaches of anti-money laundering requirements, poor management ...
Arrests And Prosecutions Reveal Big Vagaries In Bitcoin Selling Regulations
May 23rd, 2016
U.S. laws governing bitcoin trading are vague and sometimes lead to complicated law enforcement actions, according to an article in Fast Company magazine. Anti-money laundering laws require exchanges to verify customers’ identities, but what constitutes an exchange can sometimes be unclear. ...
Forex Brokers in Philipines try to stop Metrobank from closing their accounts
May 23rd, 2016
AMID a clampdown by banks on ties with money changers and remittance firms, a group representing local foreign exchange dealers is pushing back and challenging what it describes as a unilateral action of local banks to end its business ...
BVI Shrugs Off Recent Financial Services Criticism
May 11th, 2016
The Premier of the British Virgin Islands, Orlando Smith, has reiterated his Government’s commitment to the territory’s financial services industry. Smith stated, “Our financial services industry remains strong and our commitment to it is rock solid.” He added that ...
Bitcoin operators await regulation in Japan
May 11th, 2016
Bitcoin operators await regulation in Japan amid push for legitimacy and widespread use Bitcoin operators are keenly watching the Diet as it deliberates bills to regulate the currency, believing the legislation is key to regaining the public trust’s in ...
The creator of digital currency service “Liberty Reserve” was sentenced to 20 years in prison
May 9th, 2016
Bitcoin was not the first type of online money to be ever created, as it was preceded by E-Gold and Liberty Reserve, to name a few. The creator of Liberty Reserve was sentenced to 20 years in prison on ...
Artificial Intelligence seen as opportunity and threat by financial services sector
April 26th, 2016
New global survey reveals tensions between optimism and unease Majority believe AI and other fintech will make financial markets more competitive by 2018 But more than three-quarters say regulators are unable to keep pace with changing technology Sixty percent ...
Former PwC employees to stand trial over Luxleaks scandal
April 26th, 2016
THE LUXLEAKS scandal starts a new chapter today as two former PwC employees go on trial accused of leaking thousands of corporate documents that expose Luxembourg’s shadowy tax deals. Antoine Deltour, a former auditor for the Big Four firm and ...
City of London Police seized £30 million suspected to have been generated in FX markets and Ponzi schemes
April 26th, 2016
A South Wales man has been arrested by the City of London Police in possession of bankers’ drafts worth £30 million in what is believed to be the biggest ever money seizure made by UK law enforcement. The funds ...
Russia wins Hague court appeal over $50bn Yukos judgement
April 21st, 2016
A Dutch appeal court has overturned an arbitration court decision which required Russia to pay shareholders in the former Yukos oil company $50 billion, the Interfax news agency reports. “We have won our appeal of the arbitration court decision ...
