HSBC in $100 million forex fraud settlement

British financial giant HSBC has agreed to pay more than $100 million to US authorities after admitting to defrauding clients during multi-billion-dollar foreign exchange transactions, the Justice Department announced Thursday. The settlement follows an indictment handed down Wednesday against a former Barclays trader similarly accused of defrauding the former California computing giant Hewlett-Packard by manipulating foreign… Please follow and like us:

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Robert Mueller money laundering push could spark constitutional crisis

Any move by special counsel Robert Mueller to go beyond collusion and obstruction of justice to probe possible money laundering by President Trump and his family could trigger a major constitutional clash – and present Congress with a massive political headache. With nearly eight months gone by and some $7 million spent on Mr. Mueller’s Russia… Please follow and like us:

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Former White House Strategist Bannon Out as Breitbart Chairman

Former White House chief strategist Steve Bannon is out as executive chairman of Breitbart News Network, following nearly a week of “Fire and Fury” after the former presidential adviser’s remarks to author Michael Wolff were published. Bannon had been Breitbart chairman since 2012, except for the time he worked for President Donald Trump as chief strategist.… Please follow and like us:

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Cryptocurrency ICOs Must Stop Flying Blind On Money-Laundering Risks

Companies have raised as much as $4 billion this year through token crowd sales, or Initial Coin Offerings, a new mechanism that many startups using blockchain technology in some way have used to bypass traditional venture capital funding routes. That is a lot of money flowing to entities to fund their ideas and develop their products.… Please follow and like us:

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Ever-volatile bitcoin is embraced by Wall Street

Bitcoin’s stratospheric rise this week follows the digital currency’s embrace by mainstream trading platforms and is seen by some in finance as normal growing pains often experienced by innovative technologies. After starting the year at around $1,000, bitcoin, which first appeared in 2008, on Wednesday surged as high as $11,434 before promptly falling 15 percent. Near… Please follow and like us:

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Steven Mnuchin Is Concerned About Bitcoin

U.S. Secretary of the Treasury Steven Mnuchin recently told Yahoo Finance authorities are carefully “looking into” the ways people use bitcoin for “illicit purposes” “We want to make sure that you don’t have the dark web funded in bitcoins. And that’s something that is a concern of ours today,” Mnuchin said. “So if you’re a bitcoin… Please follow and like us:

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Paul Manafort Turns Himself in to the FBI

Paul Manafort, President Donald Trump’s former campaign chairman, turned himself in to federal authorities Monday as part of special counsel Robert Mueller’s probe into Russia’s 2016 election interference. Manafort and his associate, Rick Gates, who also turned himself in on Monday morning, are facing several charges, including money laundering. The New York Times reported that Gates… Please follow and like us:

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Russia tables turn, roping Clinton, Obama, Holder, not Trump

The tables have turned and what was once the media’s favorite message – President Donald Trump colluded with Russia to steal the election – has now grown silent. Apparently, it’s Bill and Hillary Clinton who’ve been doing the behind-scenes and suspicious dealings with Russia all along. Oh, and perhaps others in the Barack Obama administration, too.… Please follow and like us:

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China Seeks Greater Cryptocurrency Control, But Will Drive Capital To Privacy Tokens

In the last few weeks, China has moved against cryptocurrencies. First, they acted to ban funding for Initial Coin Offerings (ICOs). With immediate effect, the People’s Bank of China (PBoC) banned ICOs, dubbing them as an illegal scheme for money laundering, and mandated organizations and individuals that have completed fundraising through ICOs to make relevant arrangements… Please follow and like us:

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PBOC to check money laundering

BEIJING – A senior central bank official has stressed the need for increased efforts to combat money laundering. Yin Yong, vice-governor of the People’s Bank of China, said authorities should fight money laundering as an important task in “preventing and controlling financial risks and safeguarding financial system security.” China faces a “severe and complicated” situation concerning… Please follow and like us:

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IMF Harps On Need to Step Up Fight Against Money Laundering

Corrupt officials, tax cheats, and the financial backers of terrorism have one thing in common: they often exploit vulnerabilities in financial systems to facilitate their crimes, the International Monetary Fund has noted. IMF’s Managing Director, Christine Lagarde, stated this in an article on the fund’s blog. According to Lagarde, money laundering and terrorist financing can threaten… Please follow and like us:

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Internet Money Laundering Will Change Banking Forever

It’s not just the frequency of new cyberattacks or the persistent, morphous nature of the attack vectors themselves that is astonishing. We are now beginning to see the way in which cyber is transforming our entire lawless ecosystem into a new, fascinating and frightening display of criminal behavior not hiding within the shadowy confines of the… Please follow and like us:

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Hungary tightens rules on foreign funded NGOs

Hungary’s parliament has approved strict new regulations for foreign-backed civil society groups despite calls from the European Parliament and rights groups for the bill to be dropped. Under legislation drafted by Prime Minister Viktor Orban’s government and pushed through by the ruling Fidesz on Tuesday, compels groups that get more than US$26,200 a year from abroad… Please follow and like us:

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Big bank struck back at WND for exposing dark deed

Five years ago today, a series of investigative reports by WND senior staff writer Jerome Corsi that exposed the money-laundering scheme of global banking giant HSBC resulted in shocking fallout for the news agency and the reporter. HSBC – which ultimately was assessed a record fine but not prosecuted by then-U.S. Attorney Loretta Lynch despite evidence… Please follow and like us:

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Deutsche Bank fined over Russian money laundering

Deutsche Bank has agreed to pay the equivalent of $630 million (585 million euros) in fines to US and British regulators over money laundering. It had failed to prevent around $10 billion (9.29 billion euros) in suspicious trades out of Russia between 2011 and 2015. One scheme involved the bank’s Moscow, London and New York offices… Please follow and like us:

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