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BEIJING, China (AFP) — Chinese police have arrested more than 200 suspects linked to one of the country’s biggest-ever banking scandals, which triggered rare mass protests. Four banks in central China’s Henan province suspended cash withdrawals in April as regulators cracked down on mismanagement, freezing the funds of hundreds of thousands of customers and sparking protests that at times ended in violence. Police said Monday they had now arrested 234 people in connection with […]
PARIS, France (AFP) — Exclusion from SWIFT, a very discreet but important cog in the machinery of international finance, is one of the most disruptive sanctions the West has deployed against Russia for its invasion of Ukraine. The move had been threatened in recent weeks by the United States, the European Union and other Western allies as a means of escalating punishment of Russia for its aggressions against its ex-Soviet neighbour. On Saturday, as […]
WASHINGTON, United States (AFP) — Western allies on Saturday agreed on a new volley of financial sanctions against Russia over its invasion of Ukraine, including taking the key step of banishing a number of Russian banks from the SWIFT interbank system. In a joint statement, the White House said the group of world powers were “resolved to continue imposing costs on Russia that will further isolate Russia from the international financial system and our […]
Haiti, Malta, Philippines and South Sudan were placed Friday on a “grey list” of countries under increased monitoring to counter money laundering and terrorist financing. The Financial Action Task Force, an international organisation that coordinates global efforts to crack down on money laundering and terrorism financing, said nations on the list are working with it to correct deficiencies in their financial systems. The additions bring to 22 the number of countries currently under increased […]
(Eagle News) – The Bangko Sentral ng Pilipinas (BSP) extended a regulatory relief package to banks and other BSP-supervised financial institutions (BSFI) to help cushion the potential impact of COVID-19 on their operations. The relief package was provided for in Memorandum No. M-2020-008, issued by the BSP shortly after its Monetary Board approved the granting of temporary relief and rediscounting relief measures to BSFIs. In a statement, the BSP said that it “recognizes the potential […]
