The U.S. Treasury said on Thursday it imposed sanctions against two firms in Gaza — Islamic National Bank and Al-Aqsa Television — for their ties to the ruling Hamas movement. The Treasury said the sanctions prohibit Americans from transactions with the designated entities and seek to freeze any assets they may have under U.S. jurisdiction. […]

A U.N. anti-corruption unit that uncovered bribery and bid-rigging has resulted in what U.S. authorities are calling their biggest foreign bribery sting to date. The January sting netted 16 indictments and 22 arrests of small arms and military equipment makers. However, the U.N. task force that led U.S. authorities to their case was disbanded in […]

Four banks were charged with fraud on Wednesday for their roles in a €1.7bn ($2.3bn) financing package for the Italian city of Milan in a case that will fuel the global debate about the use of complex derivatives. UBS, JPMorgan Chase, Deutsche Bank and Germany’s Depfa will face trial in Milan after a judge ruled […]

The National Fraud Authority and the Metropolitan Police have brought together all the key partners in the mortgage community to establish the Mortgage Fraud Forum. The aims of the forum is to make it much harder for criminals to commit mortgage fraud, as well as to tackle top mortgage fraudsters and increase awareness of mortgage […]

On the 18 March 2010 Barry Faudemer as Director of the Enforcement Divison at the Jersey Financial Services Commission advised that, following a number of requests from the Industry, the Commission has updated the current Public Statements page so that items marked “(R)” relate to public statements where directions have been issued under the Regulatory […]

The Information Commissioner’s Office (ICO) has found that the Royal London Mutual Insurance Society breached the Data Protection Act (DPA) after eight laptops, two of which contained the personal details of 2,135 people, were stolen from the company’s Edinburgh offices. The individuals affected were employees of various firms which had sought pension scheme illustrations. The […]

The FSA has published its Business Plan for 2010/11 which sets out its work programme and priorities for the coming year, as well as the implications for the FSA’s budget. There are few surprises, but some of the key points are summarised below. There is a 9.9% increase in the FSA’s funding requirement and 460 […]

The FSA has published its Business Plan for 2010/11 which sets out its work programme and priorities for the coming year, as well as the implications for the FSA’s budget. There are few surprises, a key points concerning Financial crime is summarised below. Financial crime – the FSA will focus on market abuse/insider dealing; systems […]