The U.S. Attorney in Manhattan is investigating Germany’s Commerzbank AG for alleged violations of money-laundering laws, the Wall Street Journal reported Friday.
At the Cambridge Symposium on Economic Crime at Jesus College Tuesday, David Green QC, the head of the UK Serious Fraud Office, described what he called a cross section of the SFO’s current caseload.… Continue Reading
U.S. banking regulators have ordered Deutsche Bank AG to improve its compliance systems and risk controls, the Wall Street Journal said.
Bank of America Corp’s banking unit agreed to pay $16.6 million to resolve allegations that it processed hundreds of transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said Thursday.… Continue Reading
The Federal Reserve Bank of New York has found serious problems in Deutsche Bank’s U.S. operations, including poor financial reporting, weak technology and inadequate auditing and oversight.
A source told Reuters Wednesday that a senior official with the New York Fed said in a letter last December to the German bank’s executives that that financial reports produced by some of the bank’s U.S.… Continue Reading
State and federal authorities have begun settlement talks with Commerzbank AG and Deutsche Bank over their alleged dealings with countries blacklisted by the United States.
French banking giant BNP Paribas agreed to plead guilty to criminal charges and pay an $8.9… Continue Reading
The Financial Conduct Authority fined Barclays £26 million ($43.9 million) after accusing a former trader at the bank of improperly influencing gold prices at the expense of a customer.
The FCA said in its final notice Friday that it had imposed the fine because Barclays did not adequately manage conflicts of interest between itself and its customers.… Continue Reading
I do not subscribe to the gloomy prognostications of the relentlessly hostile judiciary and media when it comes to their rebukes of the UK’s Serious Fraud Office.
French banks Societe Generale and Credit Agricole are being investigated by U.S. authorities for alleged money laundering and economic sanction breaches involving Iran, Cuba and Sudan.
The U.S. Treasury and Justice Departments, the Manhattan district attorney’s office and the New York Department of Financial Services are conducting the investigations, the Wall Street Journal reported on Friday.… Continue Reading
Here’s the full FCPA disclosure by Barclays PLC from its Interim Management Statement filed with the London Stock Exchange on October 31:
… Continue Reading
Subsequent to reporting the investigations of the Financial Services Authority and Serious Fraud Office in July and August 2012 respectively, Barclays has been informed by the US Department of Justice (DOJ) and US Securities and Exchange Commission (SEC) that they are undertaking an investigation into whether the Group’s relationships with third parties who assist Barclays to win or retain business are compliant with the United States Foreign Corrupt Practices Act.