Australian Home Affairs Minister Peter Dutton said Westpac Banking Corp. must pay the price for giving “a free pass to pedophiles” as the corporate watchdog began investigating the lender over millions of breaches of money laundering laws. Dutton is the …
Westpac Banking Corp.’s board stood behind its management team on Friday, offering embattled chief executive Brian Hartzer some respite from mounting criticism over allegations of a breach of money-laundering laws, including failing to detect payments linked to child abuse. Chairman …
A Philadelphia businessman who amplified the size of his legal benefits firm to gain more than $30 million in loans has been sentenced to 17 1/2 years in prison. Gary Alan Frank was sentenced in Philadelphia where the judge described …
A Philadelphia bookkeeper who embezzled nearly $1.6 million from his New Jersey employer over a 10-year period has been sentenced to more than eight years in federal prison. Peter Goodchild must also pay restitution under the sentence imposed Thursday. Prosecutors …
Europe’s widening money laundering scandals took a new turn as ABN Amro Bank NV disclosed a criminal probe over alleged failures to check on clients and report suspicious transactions, a further sign of woe in an industry already struggling to …
Sweden’s biggest shareholder group has criticized Swedbank AB’s choice of chief executive officer, arguing the board opted for an insider who failed to stop the bank sinking into a Baltic money-laundering scandal when he had the chance. Jens Henriksson will …
Swedbank AB acknowledged it will no longer be able to live up to its goal of paying out one of the highest dividend ratios in the Nordic finance industry. Sweden’s oldest bank, which is dealing with the fallout of a …
The largest ever money laundering scandal in Europe is rippling through the region’s banks. It began in the Baltics and has engulfed several Nordic lenders, notably Denmark’s Danske and Sweden’s Swedbank, who had large Baltic operations. Here are some facts …
A week after Swedbank AB fired its chief executive officer, the lender is parting ways with its chairman as a multibillion dollar money-laundering scandal forces top-level changes. Lars Idermark has decided to leave Sweden’s oldest bank and biggest mortgage lender …
Denmark’s financial watchdog is warning that smaller banks need to be on high alert for signs of money laundering as larger lenders tighten their surveillance systems. Jesper Berg, director general of the Financial Supervisory Authority in Copenhagen, said Denmark is …
