Deutsche Bank AG agreed to pay more than $130 million to settle criminal and civil charges that it bribed foreign officials and manipulated the market for precious-metals futures through a trading tactic known as spoofing. The Frankfurt-based bank agreed to a deal in which it won’t be prosecuted as long as it doesn’t engage in the practices again for more than three years, and wasn’t required to plead guilty to the charges. The case was brought by federal prosecutors in Brooklyn, New York, and Washington who secured a $920 million fine against JPMorgan Chase & Co. last year, the largest… Read More
2020: We cast a cold eye over the 15 major highlights of a financial crime year in review
As we near the end of one of the toughest years for people and businesses in decades, we take a look back at some of the biggest happenings in the world of financial crime, corruption and the laws in place to stop it. 1. Cryptocurrency: the way of the future2020 has seen governments across the world tighten their grip on virtual assets. They were once seen as an easy pathway to launder money, but this year, the trend accelerates away from that. This month, France announced sweeping new KYC measures for all crypto companies operating within its borders. Registration will… Read More