Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
NEW YORK, United States (AFP) – A former Goldman Sachs banker pleaded not guilty Monday in New York to bribery and other charges in the multi-billion-dollar 1MDB scandal after being extradited from Malaysia. Malaysian Ng Chong Hwa, 51, a former managing director at the bank charged in both Malaysia and America over the 1MDB fraud, was extradited to the US on Friday, Malaysian attorney-general Tommy Thomas said. Also known as Roger Ng, the defendant was […]
US President Donald Trump, along with his family and businesses, on Monday sued Deutsche Bank and Capital One in an attempt to stop them from complying with Congressional subpoenas issued as part of a probe into foreign political influence. The subpoenas — which the Trumps described in their suit as “intrusive and overbroad” — were issued to several banks by the Democratic-majority House’s intelligence and financial services committees, which are looking into the president’s finances […]
Washington, United States | AFP | Sunday 1/20/2019 by Elodie CUZIN avec Luc OLINGA à New York Wall Street is bunkering down for a wave of intense scrutiny as a group of progressive Democrats, including social media star Alexandria Ocasio-Cortez, have joined a powerful House of Representatives committee overseeing banking activities. “It’s a huge victory,” said Ocasio-Cortez, at 29 the youngest member of Congress and a self-described socialist — a word that shocks conservatives, who brandish it as a […]
WASHINGTON, United States (AFP) — The US government announced charges Tuesday against four men it said laundered money and arranged tax avoidance schemes through the Panama firm at the center of the “Panama Papers” scandal. The four were affiliated with Mossack Fonseca, the law firm that helped thousands of clients around the world move money offshore to protect it from taxes. Named in the 11-count indictment were Ramses Owens, 50, Dirk Brauer, 54; Richard […]
HANOI, Vietnam (AFP) — A court in Vietnam convicted 46 former bankers and businessmen of corruption on Monday over a multi-million-dollar lending scam spearheaded by the once-powerful chairman of Vietnam’s Construction Bank. It is the latest in a series of major banking trials aimed at cleaning up the opaque sector long plagued by bad debts, corruption and nepotism. Vietnam’s communist leaders have vowed to target the banking business as they wage a sweeping anti-graft […]
by Kevin Trublet © Agence France-Presse LONDON, United Kingdom (AFP) — Bitcoin, the star of the cryptocurrency world, is widely seen as a freewheeling tool as open as the internet itself. But analysts have cast doubt on the veracity of that perception, highlighting that the bulk of bitcoin is in fact heavily concentrated in the hands of a powerful few. Some 1,000 bitcoin holders — out of a total 11 million — hold some 35.4 […]
by Martin Parry © Agence France-Presse SYDNEY, Australia (AFP) — The Commonwealth Bank Monday agreed to the largest civil penalty in Australian corporate history to settle claims it breached anti-money laundering and counter-terrorism financing laws. The Aus$700 million (US$530 million) fine — which is subject to court approval — comes after mediation between the nation’s biggest lender and the country’s financial intelligence agency AUSTRAC. It follows the bank being taken to court last August for “serious […]
MEXICO CITY, Mexico (AFP) — Hackers who targeted Mexico’s interbank payment system made off with more than $15 million in the past several weeks, the Bank of Mexico said Wednesday. The amount of funds involved in the irregular activity totaled “approximately 300 million pesos ($15.3 million),” central bank governor Alejandro Diaz de Leon told reporters. He said commercial bank customers’ accounts were never in danger. An investigation is under way, the governor said, without indicating […]
FRANKFURT AM MAIN, Germany (AFP) — Germany’s biggest lender Deutsche Bank on Friday admitted to a massive erroneous transfer of 28 billion euros ($34 billion) in a routine operation, more than the entire bank is worth. The unprecedented mistake happened on March 16 when Deutsche Bank carried out a transfer to an account at Deutsche Boerse’s Eurex clearing house, a spokesman told AFP. The operation was meant to involve a far smaller sum, which […]
SYDNEY, Australia (AFP) — Up to 6,000 jobs will be axed in a major restructure at National Australia Bank, the lender said Thursday after posting Aus$5.28 billion (US$4.1 billion) in annual net profits. The positions will go as it further automates and simplifies its business. Some 2,000 new jobs will be created. “This will result in a net reduction in staff currently targeted at approximately 4,000 by the end of full year 2020,” it said. The bank […]
MANILA, Philippines (AFP) — The Philippines’ second biggest bank said on Thursday it will spend $288 million buying out the minority stake that Australia’s ANZ has in a credit card joint venture. Metrobank will take over ANZ’s 40 percent share in Metrobank Card Corp. as part of a deal to turn the tie-up into a wholly-owned subsidiary. Metrobank, short for the Metropolitan Bank and Trust Co., formed the 60-40 joint venture with ANZ in 2003. […]
SYDNEY, Australia (AFP) — Australia’s biggest bank, the Commonwealth, vowed Monday to fight what could become the country’s largest shareholder class action over alleged breaches of anti-money laundering laws. The open class action, filed by law firm Maurice Blackburn and litigation funder IMF Bentham in the Federal Court in Melbourne Monday, followed a civil case launched by Australia’s financial intelligence agency AUSTRAC in August. AUSTRAC alleged the bank engaged in “serious and systemic non-compliance” of anti-money laundering laws involving thousands of […]
