Money | Compliancex

Ross McEwan will give up half of his £1m allowance to charity

The Compliance Exchange Money February 26, 2016

Royal Bank of Scotland’s chief executive Ross McEwan is to give up half of his £1m allowance to charity for the third year in a row amid an annual pay row at the bank. McEwan is to make the announcement tomorrow, according to Sky ...Read More

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HSBC Money Laundering Report Must Be Made Public: U.S. Judge

The Compliance Exchange HSBC, Money, Money Laundering, Wall Street in the News February 2, 2016

A federal judge has ordered the release of a report detailing how well HSBC Holdings Plc has complied with anti-money laundering requirements imposed by U.S. regulators when the British bank was fined $1.92 billion three years ago. Thursday’s order by U.S. District Judge John ...Read More

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Following the Migrant Money Trail

The Compliance Exchange A Homepage Slider, Compliance, Compliance Around the World, Money January 4, 2016

Behind the reinforced door of an unmarked office in this teeming immigrant neighborhood, a man who goes by the name of Hawez Zaman moves money the same way his predecessors in the Middle Ages did, in an off-the-books transfer system critical to today’s spiraling ...Read More

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Fraud, Theft and Money Laundering Totaled $1.1 Trillion in 2013, Says Report

The Compliance Exchange A Homepage Slider, Compliance, Fraud, Money, Money Laundering, Theft December 11, 2015

A new report published by Washington, DC-based Global Financial Integrity (GFI), a research and advisory nonprofit, declared that “illicit financial flows” such as money laundering, theft, fraud or embezzlement, have hit a record US $1.1 trillion in 2013. Researched and written by GFI Chief ...Read More

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Top firm said to promise bankers quicker promotions / more money

The Compliance Exchange A Homepage Slider, Banker, Banks, Career, Career Advice, Money November 6, 2015

To recruit and retain – faster promotions, more money. Goldman Sachs‘ investment banking division is promising to promote and give raises to its junior bankers faster in an attempt to recruit and retain the most talented employees. This move, which was announced Thursday in ...Read More

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Vatican inspectors suspect key office used for money laundering

The Compliance Exchange Money, Money Laundering November 5, 2015

Vatican financial investigators suspect a department of the Holy See which oversees real estate and investments was used in the past for possible money laundering, insider trading and market manipulation, according to a report seen by Reuters. The information in the confidential document, which ...Read More

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Bank of America traders didn’t lose money

The Compliance Exchange A Homepage Slider, Bank of America, Banker, Banks, Money, Trader, Wall Street in the News November 2, 2015

Bank of America Corp. traders posted trading revenue on every business day of the third quarter, the first three-month period without a daily loss since the start of 2014, even as total trading revenue declined. On 74 percent of those days, Bank of America ...Read More

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Berkshire Investors Share Their ‘Happy Accident’ Money With Omaha Charities

The Compliance Exchange Compliance, Investors, Money October 22, 2015

In 1965, Warren Buffett took control of an ailing New England textile mill and used it as a platform to build the massive conglomerate that is Berkshire Hathaway Inc.BRKA -0.78% In the process, he minted hundreds of millionaires and even some billionaires. They became wealthy ...Read More

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Colombian Drug Cartels Used Hong Kong Banks To Launder More Than US$5bn

The Compliance Exchange Compliance, Compliance Around the World, Money, Money Laundering September 16, 2015

South America’s notorious drug cartels are using banks in Hong Kong and the mainland to launder the proceeds of their multibillion-dollar global narcotics trade, according to the United States authorities. Newly unsealed US court documents accuse three Colombian nationals of helping to run a ...Read More

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US charges 3 people in multibillion-dollar drug money laundering scheme

The Compliance Exchange A Homepage Slider, Compliance, Money, Money Laundering September 11, 2015

U.S. authorities have charged three men with helping to run a global money laundering network that processed billions of dollars in drug trafficking profits through bank accounts in China and Hong Kong. The Guangzhou, China-based organization brought in drug proceeds from the United States, ...Read More

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