The new Economic Crime and Corporate Transparency Bill will focus on tightening rules around registering a company in the UK, with the hope of reducing fraud and money laundering via the use of shell companies.
Some of the world’s largest banks are facing a combined US$1bn in fines for allowing employees to converse with other employees and clients using WhatsApp and similar unauthorised messaging apps.
Some of the world’s largest banks are facing a combined US$1bn in fines for allowing employees to converse with other employees and clients using WhatsApp and similar unauthorised messaging apps.
Banks in Europe are preparing for planned blackouts and energy rationing as Russia cuts off mainline gas supplies to the region.
Fintechs and large technology companies should receive greater focus from regulators and are at risk of triggering the next financial crisis, according to Michael Hsu, Acting Comptroller of the Currency in the US.
The UK Government released latest performance data for its Covid Bounce Back loan scheme earlier this week, revealing £1.1bn worth of fraud.
The UK’s Financial Conduct Authority has highlighted the role of the so-called First Line of Defence in detecting and fighting financial crime.
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