Tag Archives | banking

HBOS

UK regulators pronounce on HBOS

Seven years since HBOS crashed and burned, we are about to find out why, from a report to be jointly published on Thursday morning by the UK’s Financial Conduct Authority and Prudential Regulation Authority (part of the Bank of England). The Edinburgh based bank, with assets of some £667 billion, was formed from the September […]

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terrorfinance

Banks not up to the task of spotting terrorist financing, despite G20

The decision of the G20 to propel the Paris-based Financial Action Task Force into action on terrorist funding has two problems. First, global banks’ have failed to train staff and their systems in the latest financing techniques. Second, terrorists use cash-based money transfer systems to move money and not conventional banks. The evidence for the […]

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The price of arrogance

The disclosure that Credit Agricole has agreed a $787 million settlement with the US Department of Justice to settle sanctions busting charges involving Iran and Sudan has a haunting message for its French rival BNP Paribas. Credit Agricole appears to have committed identical offences to those of BNP Paribas but paid a fine to the […]

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