The anti-corruption organisation Global Witness published a 26-report criticising the UK Financial Conduct Authority for its failure to investigate ROYAL BANK OF SCOTLAND AND STANDARD CHARTERED over their alleged involvement in the 1MDB scandal.   According to the US Department of Justice, which has already seized over USD 1 billion in potentially tainted assets, USD 3.5 billion […]

The venerable Coutts bank, home of the Queen’s personal accounts, has been drawn into the mounting controversy about private banking with an admission that its Swiss arm is under investigation for aiding and abetting tax evasion. Royal Bank of Scotland, which owns the 300-year-old Coutts, admitted on Thursday that German prosecutors are investigating current and […]

The FCA levied around £1.5bn in fines during 2014, nearly three times the amount raised the year before. Last year was one of bumper fines, with five banks told to pay a record £1.1bn for failing to control business practices in their G10 spot foreign exchange trading operations. Citibank NA was fined £225.5m, HSBC £216.3m, […]