Search Results for: Fraud
New Report Says Computer Criminals Stole Millions From Banks
February 16th, 2015
Banks in Russia, U.S. and Eastern European may Have Lost $1 Billion, Report Says A Russian-speaking gang of computer criminals has stolen millions of dollars since late 2013 from banks in Russia, Eastern Europe and the U.S., according to ...
HSBC files: Swiss bank hid money for suspected criminals
February 13th, 2015
HSBC’s Swiss bank concealed large sums of money for people facing allegations of serious wrongdoing, including drug-running, corruption and money laundering, leaked files reveal. Despite being legally obliged since 1998 to make special checks on high-risk customers, the bank ...
Former Petrobras CEO Weighs In on Corruption Probe
February 12th, 2015
Gabrielli Says He Feels Like ‘David Fighting Goliath,’ Denies Any Wrongdoing José Sergio Gabrielli, the former chief executive of Petróleo Brasileiro SA, presided over one of the brightest periods in the state-owned oil giant’s history. During his tenure, from 2005 to ...
Eurogroup: Points of agreement and discord
February 11th, 2015
All eyes are on the Eurogroup meeting that kicks of at 7 p.m. on Wednesday with EU partners waiting with baited breath to see how the chips will fall The Eurogroup meeting in Brussels on Wednesday has been dubbed ...
HSBC files: international outcry over activities at bank’s Swiss arm
February 10th, 2015
Revelations of collusion with wealthy and criminal clients in tax malpractice triggers furious response around the world HSBC was fighting an international firestorm on Monday over revelations that its Swiss private bank helped clients conceal undeclared accounts and provided services ...
SEC Imposes Sanctions Against China-Based Members of Big Four Accounting Networks for Refusing to Produce Documents
February 9th, 2015
The Securities and Exchange Commission today imposed sanctions against four China-based accounting firms that had refused to turn over documents related to investigations of potential fraud. The China-based firms are members of large international networks associated with the “Big ...
Dangers involved in Money Laundering
February 9th, 2015
Money laundering statures have a very broad ambit and the duty is firmly on banks and financial institutions to “Know their clients” and to avoid transactions that may assist clients in disguising and concealing the sources of their money. ...
UBS Faces a New Tax-Evasion Probe
February 5th, 2015
Authorities Investigate Whether Swiss Bank’s Clients Used ‘Bearer Securities’ to Hide Cash Federal prosecutors have launched a new probe into whether Swiss bank UBS AG helped Americans evade taxes through investments largely banned in the U.S., according to people familiar with ...
SEC Alerts Investors, Industry on Cybersecurity
February 4th, 2015
The Securities and Exchange Commission today released publications that address cybersecurity at brokerage and advisory firms and provide suggestions to investors on ways to protect their online investment accounts. “Cybersecurity threats know no boundaries. That’s why assessing the readiness ...
The Federal Reserve Bitcoin Strategy
January 28th, 2015
This morning The Federal Reserve Bitcoin Strategy was released in a paper outlining multiple options for improving the U.S. payment system. In the past, Digital currency had been deemed too immature. Now, after pressure from private sector interests, the ...
