Search Results for: World Bank
Bank Pays $400m Fine For Aiding US Tax Evasion
January 5th, 2015
A leading Israeli bank has agreed to pay the US government $400 million compensation for helping US customers evade tax. Bank Leumi confessed to advising 1,500 wealthy Americans how to evade taxes over several years. The bank ran secret ...
Vatican Bank Joins 100 Nations In FATCA Offshore Account Hunt
December 29th, 2014
In his annual Christmas messages to more than one billion Catholics, the Pope may have left out something: offshore account compliance. Maybe, but the U.S. Treasury is more than happy to fill in the blanks. Just before Christmas, the ...
Statement of the National Bank of Ukraine on the legal status of Bitcoin
December 19th, 2014
Ukraine’s local chapter of the Bitcoin Foundation has spoken out against a recent statement by the central bank concerning the legal status of bitcoin in the country. In a document issued last month, the National Bank of Ukraine (NBU) ...
Lending Club: The shares of the world’s largest peer-to-peer lender
December 12th, 2014
Shares in Lending Club, the world’s largest peer-to-peer lender, have surged 56% to $23.43 (£15) per share in their New York Stock Exchange debut. That values the firm at $8.5bn, indicating strong investor interest in the Lending Club’s micro-loan ...
The world’s poorest man has handed himself in to French authorities
December 5th, 2014
Jerome Kerviel, the ex-Societe Generale trader who has more debt than anyone else in the world, has turned himself in to French authorities to begin a three-year jail sentence. His return home is something of an end point to ...
Dubai Islamic Bank signs $230 million aircraft financing deal with Air Arabia
November 19th, 2014
Dubai Islamic Bank (DIB) and Air Arabia announced today the signing of an aircraft financing deal to facilitate the delivery of six new Airbus A320 aircrafts in 2015.The signing ceremony was held in the DIB head office in the ...
Bank of Canada is Keeping a Close Eye on E-Money
November 14th, 2014
The Bank of Canada is keeping a close eye on the risks posed by new forms of electronic money, given that the Bank’s job is to issue currency, promote financial stability and oversee Canada’s payment systems, Senior Deputy Governor ...
BNP Paribas: The five ways Bitcoin can shake up the financial services world
November 12th, 2014
Bitcoin could become a market-leading technology that will change the way financial systems are engineered says BNP Paribas, in an analysis of the potential disruptive impact of the crypto-currency on banking and asset servicing. In an article for the ...
FCA fines five banks £1.1 billion for FX failings
November 12th, 2014
The Financial Conduct Authority (FCA) has imposed fines totalling £1,114,918,000 ($1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations: Citibank N.A. £225,575,000 ($358 million), HSBC Bank Plc £216,363,000 ...
Regulators fine global banks $3.4 billion in forex probe
November 12th, 2014
Global regulators imposed penalties totaling $3.4 billion on five major banks, including UBS (UBSN.VX), HSBC (HSBA.L) and Citigroup (C.N) on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Scotland (RBS.L) and JP ...
