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Banking News

Turk gets 8 years jail in theft of $55 mn in ATM hacks

Washington - A Turkish computer hacker who helped steal $55 million from ATM machines in dozens of countries using data from credit card issuers was sentenced to eight years in prison Friday.

Ex-IMF chief Rato, already in dock, accused of 'tax fraud'

Madrid - Former IMF chief Rodrigo Rato stands accused of tax fraud carried out in his native Spain over more than a decade, according to a report Wednesday detailing charges that come atop another ongoing trial for embezzlement.

HSBC funding Indonesian forest destruction: Greenpeace

Jakarta - Greenpeace on Tuesday accused banking giant HSBC of helping to arrange billions of dollars in financing for companies whose palm oil operations have been blamed for destroying vast swathes of Indonesian rainforest.

Portugal's BPI cedes control of Angola's top bank

Lisbon - Portugal's BPI bank on Thursday ceded control of Angola's top lender to a telecoms company run by Isabel dos Santos, daughter of the country's president and dubbed Africa's richest woman.

US acting as global policeman for financial crimes

Washington - Handing out multibillion-dollar fines right and left to domestic and foreign financial giants, the United States has taken on the role of the unforgiving global cop of the business world.

Ukraine pours $500 mn into nationalised bank

Kiev - Ukraine's central bank on Tuesday poured more than half a billion dollars into the country's largest bank after nationalising it in a bid to avert its collapse and a financial meltdown.

Italy's banking problems can be solved, EU will help: Juncker

Brussels - Italy's banking problems can be solved and the EU will do everything to help, European Commission chief Jean-Claude Juncker said Wednesday, dismissing fears of something akin to the euro crisis.

France blocks extradition of Kazakh oligarch to Russia

Paris - France's highest administrative authority on Friday blocked the extradition of Kazakh opposition figure Mukhtar Ablyazov to Russia, where he is accused of embezzling billions of dollars.

Verdict due for French ex-minister 'rooted in fraud'

Paris - Former French budget minister Jerome Cahuzac will on Thursday learn the verdict in his stormy tax fraud trial in which he was accused of hiding millions abroad while leading a crackdown on tax dodgers at home.

State-owned Russian bank VTB says sites hit by cyberattack

Moscow - State-controlled Russian bank VTB said Monday that its websites had been hit by a cyberattack but insisted its systems were still working "as normal".

Russia says foreign spies plotted huge cyberattack

Moscow - Russia on Friday said it had uncovered plans by foreign intelligence services to carry out massive cyberattacks this month targeting the country's financial system.

Singapore fines two British banks for 1MDB-linked lapses

Singapore - Singapore's financial regulator said Friday it has fined two British banks and barred a former Goldman Sachs banker in a widening crackdown on money laundering linked to Malaysian state fund 1MDB.Standard Chartered Bank was slapped with a Sg$5.

Andorra ends banking secrecy

Andorra La Vella - Andorran lawmakers have agreed to end banking secrecy in the Pyrenees mountains principality once considered a tax haven, approving automatic sharing of information on accounts held by non-residents.

Bank regulators seek deal on crisis reforms

Santiago - World banking supervisors said Wednesday they were closing in on finalizing controversial new regulations to prevent a repeat of the 2008 financial crisis.

Online criminals steal money from 20,000 Tesco Bank accounts

U.K. banking provider Tesco Bank has announced it has suspended all online transactions for its current account customers. The bank's chief executive confirmed criminals stole money from over 20,000 accounts over the weekend. It is currently unknown how.

HSBC should stand trial in tax fraud case: French prosecutor

Paris - A French prosecutor has called for British banking giant HSBC to stand trial for enabling French clients to hide at least 1.67 billion euros ($1.84 billion) from the taxman, a source close to the probe said Thursday.

Moldova struggles to reform economy hit by money laundering, theft

Chisinau - Europe's poorest country Moldova -- politically torn between former Soviet master Russia and the West --- has seen its economy ravaged by rampant corruption and a string of money laundering and theft scandals.

France joins bid to host EU bank regulator after Brexit

Paris - France said Wednesday it had joined the race to host the European Union's banking regulator when it has to leave Britain following its exit from the bloc.

Ireland bids to host EU bank regulator after Brexit

Dublin - Ireland will bid to host the European Union's banking regulator when it is forced to leave Britain following its exit from the bloc, the Irish department of finance announced on Tuesday.

Mexican airport agents seize $450 million in bonds from US

Mexico - The Mexican authorities have seized $450 million worth of debt securities at an airport near the capital that were sent from the United States to a Mexican company, an official said.

WikiLeaks releases Clinton speeches for Goldman Sachs

Washington - Three of Hillary Clinton's paid speeches to Goldman Sachs were released on Saturday by WikiLeaks, casting an awkward spotlight on the Democrat's ties to the biggest players on Wall Street in the final stretch of the White House race.

All 'legal', ex-IMF head Rato says in embezzlement trial

San Fernando De Henares - Former IMF chief Rodrigo Rato said Tuesday that using the funds of banks he headed up for personal use was "completely legal," as he took the stand in a trial for embezzlement.

France asks Switzerland to hand over 45,000 UBS accounts: report

Paris - French tax authorities have asked Switzerland to hand over client information for some 45,000 bank accounts as part of a probe into alleged tax fraud, Le Parisien daily said Monday.

French 'rogue trader' Kerviel's legal rollercoaster

Paris - A French appeal court on Friday ordered "rogue trader" Jerome Kerviel to pay one million euros ($1.2 million) to his former employer, Societe Generale, one of France's top three banks.

Yemen's president at UN hits out at Iran

New York - Yemen's president hit out at Iran during his address to the United Nations on Friday, accusing Tehran of blocking peace moves through its support for Huthi rebels who continue to hold the capital."We shall extract Yemen from the claws of Iran.

French 'rogue trader' Kerviel must pay 1.0 mn euros to bank

Versailles - A French appeals court on Friday ordered "rogue trader" Jerome Kerviel to pay a million euros to Societe Generale over the nearly five billion euros he squandered through his reckless risk-taking.

Greek central banker denies rift with government

Atenas - Greece's central banker on Saturday denied that the leftist government of Alexis Tsipras was seeking to squeeze him out as he probes the loans of a politically sensitive bank.

Portugal seeks assurances over EU's treatment of Barroso

Lisbon - Portugal's prime minister on Friday said he had called for "clarifications" from European Commission head Jean-Claude Juncker that there would be no "discriminatory treatment" of his EC predecessor Jose Manuel Barroso, whose decision to work for Goldma...

Graft trial ends for French ex-minister 'rooted in fraud'

Paris - A French court on Thursday heard closing arguments in the stormy tax fraud trial of ex-budget minister Jerome Cahuzac, accused of stashing millions abroad while leading a crackdown on tax dodgers at home.

Juncker opposed Barroso joining Goldman Sachs

Brussels - European Commission President Jean-Claude Juncker said Thursday he opposed his predecessor Jose Manuel Barroso's decision to work for Goldman Sachs because of the firm's role in the global financial crisis.
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Bank of America ATM
Bank of America
Brian Katt
The Credit Lyonnais (now LCL) bank headquarters in Paris France
The Credit Lyonnais (now LCL) bank headquarters in Paris France
Wikicommons
UBS logo
UBS logo
Fabrice Coffrini
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Members of the organization have called on their supporters to boycott HSBC and see it as a test of ...
Members of the organization have called on their supporters to boycott HSBC and see it as a test of their faith.
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GIANT: Credit Suisse headquarters at Paradeplatz in Zurich  Switzerland.
GIANT: Credit Suisse headquarters at Paradeplatz in Zurich, Switzerland.
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The Euro sign outside the European Central Bank in Frankfurt  Germany
The Euro sign outside the European Central Bank in Frankfurt, Germany
A Barclays bank in Birmingham  UK
A Barclays bank in Birmingham, UK
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