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South Korea intends to implement semiconductor tax breaks
South Korea announced hefty tax reductions for semiconductor manufacture this week, while Dubai lifted its alcohol sales tax in advance...
Jan 9, 20232 min read
US judge accepts Danske Bank's guilty plea as part of $2 billion deal
Danske Bank's guilty plea to a charge of conspiring in bank fraud and its agreement to pay more than $2 billion were both approved by a...
Jan 9, 20231 min read
In light of the FTX crisis, banks should handle cryptocurrency with extra caution
Just two months after the financial world was rocked by the collapse of cryptocurrency exchange FTX, US regulators advised that banks...
Jan 5, 20232 min read
Malta bank ECCM fined €310K for systemic AML errors, including risk ratings failures
A Maltese bank was fined €310,000 for a string of major AML violations. The Financial Intelligence Analysis Unit (FIAU) of the island...
Jan 4, 20233 min read
UK faces accusations that its Russia assets regime is weaker than that of the EU or the US
Experts cautioned that the UK's unique approach on share ownership by individuals and businesses subject to sanctions has created a...
Jan 4, 20234 min read
Germany's new right of residence
On January 1, 2023, the much-discussed Right to Residence and other regulations that make it simpler for foreigners in the country to...
Jan 3, 20232 min read
While the ECB rate rises, Italy is considered the eurozone's weakest link
According to experts, Italy is the eurozone country most vulnerable to a debt crisis as the ECB rises interest rates and purchases fewer...
Jan 3, 20234 min read
Rouble drops to 8-month low against the dollar
On Thursday, the Russian rouble plunged to an eight-month low against the dollar, straining under the pressure of expectations that...
Dec 30, 20222 min read
Cyprus will welcome the world's fourth largest shipping firm
John Fredriksen, a Cypriot naturalised billionaire, owns the company. Frontline, owned by Cypriot citizen John Fredriksen, has opted to...
Dec 29, 20221 min read
Meta to pay $725 million to resolve privacy class-action lawsuit
Facebook's parent company, Meta, agreed to pay $725 million to resolve a class-action lawsuit that alleged the social media behemoth had...
Dec 29, 20222 min read
After a selloff, the central bank of Vietnam purchases dollars to support reserves.
After being forced to sell a sizable amount of US dollars earlier this year to maintain the dong, Vietnam's central bank announced on...
Dec 28, 20222 min read
Safran is not going to be prosecuted by the DOJ for alleged FCPA offenses.
On December 21, the U.S. Department of Justice (DOJ) notified Safran's legal representation that the firm will not be prosecuted in...
Dec 28, 20222 min read
Russia is ready to restart gas supplies to Europe through the Yamal-Europe pipeline
Alexander Novak, the deputy prime minister of Russia, told the state-run TASS news agency that Moscow is prepared to restart gas supplies...
Dec 27, 20222 min read
Ukraine takes two steps ahead and one step back in the fight against corruption
President Volodymyr Zelenskyy is adamant that his country's future belongs in the EU, but he is under pressure to change the...
Dec 27, 20227 min read
A 'period of uncertainty' is predicted as the United Kingdom embarks on 'Edinburgh Reforms.'
The route forward for the United Kingdom in a post-Brexit future was clarified Dec. 9 when Chancellor of the Exchequer Jeremy Hunt laid...
Dec 22, 20223 min read
The US Senate has approved an incentive programme for AML whistleblowers
The United States Senate released an omnibus appropriations measure for the Financial Crimes Enforcement Network for 2023. For 2023, the...
Dec 22, 20221 min read
With the $3.7 billion Wells Fargo settlement, the CFPB reaffirmed its stricter position
As part of a settlement with the Consumer Financial Protection Bureau, Wells Fargo will pay a total of $3.7 billion to remedy "widespread...
Dec 21, 20223 min read
What the New Migration Changes in Germany Mean for Third-Country Citizens
The revisions to the law on the right of residence and asylum for third-country citizens who are already in Germany were approved by...
Dec 21, 20224 min read
Honeywell will pay $203 million to settle bribery accusations in Brazil and Algeria
Honeywell International agreed to pay $202.7 million to settle allegations that it paid bribes to gain government contracts in Brazil and...
Dec 20, 20223 min read
Germany's FIU chief Schulte resigns after FATF wasn't informed of 100,000 unprocessed SARs
THE HEAD OF DEUTSCHLAND'S FIU has resigned amid a scandal over FATF failing to address a significant backlog of unprocessed SARs. The...
Dec 19, 20223 min read
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