Log In | Subscribe | | |

Recent changes to the Lloyds Banking Group's internet banking platforms have led to customers of the international bank registered in Jersey and regulated in Jersey, Guernsey and the Isle of Man with a sister company in Gibraltar being unable to locate information on services or to apply for services on-line.

Following the closure of BSI Bank Limited for persistent and senior failures in money laundering controls and failures to comply with regulatory failures (http://www.financialcrimerisko...) MAS has named the six bankers it has referred to the Public Prosecutor for investigation as to possible criminal offences. MAS has also served notice of financial penalty on the bank.

The Monetary Authority of Singapore (MAS) announced today that it has served BSI Bank Limited (BSI Bank) notice of intention to withdraw its status as a merchant bank in Singapore for serious breaches of anti-money laundering requirements, poor management supervision of the bank’s operations and gross misconduct by some of the bank’s staff.

FCRO Subsection: 

We've got a second chance to prevent the abolition of Britain and England in particular. We must not waste it.

CoNet Section: 

Basheer Ahmad Maula Sahul Hameed was jailed on 20 May 2015. the 24 year old mechanic conspired with his wife, Nur Shila Kanan, a bank officer to access, the bank accounts of several people who are missing aboard flight MH370.

BIScom Subsection: 

As banks find themselves subject to ever more stringent arrangements over correspondent banking, the process seems complex and esoteric. It isn't. Here's the BankingInsuranceSecurities.com guide to correspondent banking . Simple.

BIScom Subsection: 

Niki Lauda shoots from the lip and is consistently quick to blame Hamilton for any incident involving the two Mercedes drivers. Toto Wolff is far more measured. Within minutes of Mercedes' premature end of the Spanish Grand Prix, both had delivered their verdict. Lauda was, as usual, critical of Hamilton. Wolff gave a technical answer that hardly anyone understood but it did not say Hamilton was to blame. And it was right that it did not because while we mortals do not have access to Rosberg's data, we do have access to Hamilton's in-car footage and while we cannot say Rosberg was at fault, we can say, with certainty, that Hamilton...

CoNet Section: 

Writing about the scandal of claims companies charging thousands of millions to fill in forms people can do for free, the Independent carried two ads for one such company - on the same page as the article!

CoNet Section: 

You can't turn on the TV during the daytime in the UK without being bombarded with adverts for gambling or some kind of claims management service, the latter ranging from solicitors with names that sound like second hand furniture shops to unlicensed and unregulated companies that sound like firms of solicitors. This latter group has found rich - very rich - pickings in relation to the scandal where millions were "mis-sold" Personal Protection Insurance as part of a loans package. How rich? The government's increasingly excellent Public Accounts Committee says some GBP5,000 million has been spent by people who bought services they did not need.

While the Conservative Party is seemingly on a course to self-destruction and Jeremy Corby wrestles with bizarre claims of anti-Semitism (the protesters don't appear to know what a Semite is) and both parties wondering how to spin the overall picture presented by last week's elections, Gordon Brown, one of, perhaps the primary, architect of the collapse of the British economy who failed to get a decent job in Europe and the IMF after his delusional claim that he saved the world, has weighed in. He's confirmed one significant fact that most politicians are reluctant to point out: the EU is, widely and fundamentally, a coalition of...

CoNet Section: 

When 38 year old Paul Wilson ordered a takeaway meal from The Indian Garden in the small North Yorkshire village of Easingwold, one of a chain of restaurants owned by Mohammed Khalique Zaman, Wilson made it clear that he was allergic to peanuts and that his meal must be prepared without any. The order was marked "no nuts" and the words "no nuts" was written on the container. Wilson died from an allergic reaction, Teesside Crown Court has heard.

When I was 23, I had a science degree (unusual for a woman), a busy social diary and a bright shiny young marriage to my sixth-form sweetheart. In the next 40 years, we had successful careers and three wonderful children who are, themselves, all pursuing their dreams. We had nice cars, houses, holidays and although we are not rich, we have no money worries. But something has gone wrong.

The UK Treasury has issued a notice bringing into effect additional requirements. Under the notice issued 6 May 2016, by 31 May credit and financial institutions must terminate all financial dealings with the government of North Korea, with the ruling Party - and essentially freeze the whole of North Korea out of the UK banking system by, amongst other things, closing branches and accounts.

After New York copied the Zero Tolerance initiative originated by Cleveland Police in the UK, the Big Apple saw the blight of widespread crime falling away. With all due respect to economists who claim that demographic and social changes were responsible, there is no doubt that strong policing made a difference.

So it's a surprise to learn that the city now appears to be turning its back on such methods to focus on large scale crime instead.

Is it because that's where the money is?

CoNet Section: 

On or about 2 May, Indian businessman Vijay Mallya left India for the UK to spend more time with his family. Meanwhile, investigations into his financial dealings have continued and, in late April, Indian authorities issued a warrant for his arrest and revoked his passport. He is not, however, stateless: a passport is a document evidencing the right to travel and its revocation does not affect his Indian citizenship. Where do such cases leave financial institutions?

FCRO Subsection: 

Pages

 


 

hahagotcha