Search Results for: Fraud
HMRC admits to winding up inquiry into HSBC tax evasion claims
January 14th, 2016
Only one person was prosecuted following claims the bank turned a blind eye to illegal activities of hundreds of wealthy customers HM Revenue and Customs has wound up its inquiries into claims that hundreds of British customers used HSBC’s ...
Six former brokers acted as ‘well-oiled machine’, Libor trial hears
January 14th, 2016
Defendants conspired with convicted trader Tom Hayes to manipulate inter-bank lending rate, prosecution tells court Six former brokers acted as a “well-oiled machine” to assist convicted trader Tom Hayes to rig Libor interest rates, a court has heard. Summing ...
U.S. Supreme Court rejects former UBS executives’ appeals
January 12th, 2016
The U.S. Supreme Court on Monday declined to hear an appeal filed by three former executives of Swiss global investment bank UBS AG (UBSG.VX) convicted of conspiring to deceive U.S. cities and towns by rigging bids to invest municipal ...
HMRC: Lin Homer to step down as HMRC CEO in April
January 12th, 2016
Lin Homer has announced today that she is to leave HM Revenue and Customs (HMRC) in April, after more than four years as Chief Executive and Permanent Secretary and a public service career spanning 36 years. Lin Homer joined HMRC in ...
Commission concludes Belgian “Excess Profit” tax scheme illegal; around €700 million to be recovered from 35 multinational companies
January 11th, 2016
The European Commission has concluded that selective tax advantages granted by Belgium under its “excess profit” tax scheme are illegal under EU state aid rules. The scheme has benefitted at least 35 multinationals mainly from the EU, who must ...
Euribor trial: 11 former Barclays, Deutsche Bank and Societe Generale employees set for first court appearance over rate fixing allegations
January 11th, 2016
Nearly a dozen people accused of manipulating a key rate of lending between European banks are due to make their first appearances in court this week in the latest of several rate rigging prosecutions brought by the Serious Fraud Office. 11 former employees of Barclays, Deutsche Bank and Societe ...
FCA:Unauthorised Forex (FX) trading and brokerage firms
January 8th, 2016
FCA UK has issued an announcement to inform public and investors in relation to unauthorised Forex trading and brokerage firms. FCA points out that all firms offering their investment and trading services in UK must be authorised by the ...
PwC agreed to pay $55 million to settle claims
January 7th, 2016
PwC in $55 million settlement with Madoff feeder fund investors PricewaterhouseCoopers agreed to pay $55 million to settle claims it failed to audit properly the books of Fairfield Greenwich Group, the biggest operator of “feeder funds” for now-imprisoned swindler ...
Scammers Impersonate the DFSA’s Chief Executive and Barclays Bank PLC UAE, in an Advance Fee Scam
December 29th, 2015
The DFSA alerts the financial services community and the public to an Advance Fee Scam in which: the DFSA’s Chief Executive; and the name of Barclays Bank PLC UAE (Barclays), and one of its employees, are fraudulently impersonated. The way ...
China central bank details rules on online payment
December 29th, 2015
China’s central bank released detailed regulations of online payment services by non-bank institutions on Monday in the latest effort to contain possible risks in the booming Internet finance industry. The new rules require real-name registration for all non-bank payment ...
