Search Results for: fraud
Assets of collapsed Forex broker appeared insufficient to repay creditors
April 19th, 2017
Following last week Breaking News in relation to Auckland-based foreign exchange broker Forex Brokers collapse, today we have learned that the said collapsed broker owes creditors more than $10 million and its assets appeared insufficient to repay creditors even half a cent ...
Ant Financial merged with HelloPay Group
April 19th, 2017
Almost exactly one year ago, Alibaba announced its US$1 billion purchase of a controlling stake in Lazada, the largest online shopping and selling marketplace in Southeast Asia – and a gateway to the region for the Chinese tech giant. Now, Alibaba ...
SWIFT announces a new real-time payment controls service
April 13th, 2017
SWIFT today announces a new real-time payment controls service to complement and strengthen its customers’ existing fraud controls. The new fraud and cyber-crime prevention service will enable SWIFT customers to screen their payment messages according to their own chosen ...
The US$200 million investment scam; hunt is on
April 13th, 2017
Investigators looking into a financial scam that took Dubai residents for tens of thousands of dollars have shifted their focus to recovering about US$200 million (Dh734.5m). The sum is believed to have been siphoned from a Dubai branch of ...
The Libor trials: Where we are now
April 12th, 2017
Barclays sent shockwaves through the City when, in July 2012, it was fined nearly £300m by British and US regulators for its role in the Libor-rigging scandal. Days later, then chief executive Bob Diamond handed in his notice. The ...
High court approves £129m fine for Tesco over accounting scandal
April 11th, 2017
The high court has approved a settlement between Tesco and the Serious Fraud Office that involves Britain’s biggest retailer paying a £129m fine over an accounting scandal. Sir Brian Leveson approved the so-called deferred prosecution agreement (DPA) at a ...
Netherlands to introduce Registry Of Beneficial Ownership to fight Tax evasion
April 10th, 2017
One year after the revelations of the Panama Papers there is still a lot of work to do for the Netherlands to effectively prevent and fight widespread international money laundering structures and unlawful tax evasion. This is especially the ...
HMRC launch criminal investigation into global financial institution
April 7th, 2017
HMRC, alongside our international partners, launched an investigation for suspected tax evasion and money laundering by a global financial institution. HM Revenue and Customs is getting increasingly tougher on offshore tax evasion, collecting more than £2.7 billion since 2010. Yesterday, ...
Two former Barclays employees acquitted in Libor trial
April 7th, 2017
The Serious Fraud Office (SFO) has issued a press release to inform in relation to the last decision coming from the Southwark Crown Court in Libor trial. According the release: Stylianos Contogoulas and Ryan Michael Reich were acquitted by ...
IBM Launches Blockchain Platform for US Oil Trade
April 7th, 2017
Technology giant IBM has developed a blockchain trade finance platform alongside a bank and a commodity trading house to settle deals using the blockchain solution. Singaporean commodities trading house Trafigura and French bank Natixis join IBM in the innovative ...
