Minute-by-minute currency fluctuations mean that treasurers find it hard to predict the best time to buy, but the benchmarking system favoured by banks has got them into hot water for manipulating figures.
Those friendly emails asking for your help in securing access to a long-lost diamond mine may finally be at end, as Nigeria takes a bold new step in the fight against identity theft.
Senior personnel in the finance world could soon be held personally responsible for their organisation’s failings and regulatory breaches – but newly proposed regulations could see this extended to non-executive board members.
Things aren’t getting any better for UK banking giant HSBC, which may now have to pay out an extra $1bn in fines following last year’s forex scandal and a string of negative revelations.
The UK’s financial regulator will start an investigation into whether there is sufficient competition in the investment and corporate banking sectors.
Ex-HSBC chairman Lord Green is stepping down from his role on the board of The City UK following accusations that the bank helped clients evade tax while he was in charge.
UK bank HSBC helped rich customers to funnel money in through its Swiss banking arm to avoid paying tax – but just one UK citizen on the list has been prosecuted for tax evasion.
The Royal Bank of Scotland is has unearthed a money-making ploy which sees companies taking money from customer accounts without clear warning, and is urging regulators to take action.
The UK’s Information Commission Office (ICO) has approved an application by First Data to share personal customer data across international borders.
The European Union probe into tax-dodging multinationals moved into Belgium on Tuesday, where regulators believe the tax code gives an unfair tax break to multinational groups over other firms.
