US lawmakers form cross-party payment tech group
A group of lawmakers will push forward the payments agenda in the US government via a newly formed alliance that focusses on the sector.
Regulation & Compliance
Banking software chief arrested for bribery
The former executive of a listed IT firm in the US is in police custody after an Australian bank uncovered suspicious payments to its staff.
Commerzbank to pay $1.45 billion fine for breaking US sanctions
Germany’s Commerzbank has admitted illegal conduct and agreed to settle criminal charges in the United States by paying $1.45 billion.
Cost-cutting opens doors to cybercrime
Pressure to close bank branches and digitise all functions means that major financial institutions are putting customer data at risk in order to save money.
Financial crime regulation is hitting the wrong people hardest, says David Craig
Robust compliance rules are a must to curb money laundering, but overzealous regulation is making it hard for above-board companies to open or switch accounts.
US Treasury pushed to scrutinise real estate market
Nonprofit organisations are urging the US Treasury Department to force the real estate industry to subject buyers to tougher identity verification and money-laundering screening.
Give us back our billions, Argentina tells HSBC
Argentinian tax authorities are demanding that HSBC return $3.5 billion that they say the bank helped to spirit out of the country.
EU weighs up benefits of capital markets union
Consultations are currently underway in the EU to determine whether a single market for capital could be rolled out across all 28 member states.
Drop in Barclays profit follows misconduct fine prep
Barclays reported a fall in profits as it set aside more funds to cover potential fines for currency market manipulation and PPI compensation.
Indian Finance Minister announces ‘game changing’ reforms
Finance Minister Arun Jaitley announced two drastic reforms in his latest budget, including a new regulatory structure and construction of a ‘smart city’.
