Australia’s Westpac Takes A$1.2B Charge Against Q2 Earnings for Laundering, Refunds October 26, 2020 By Edward Johnson Westpac Banking Corp. has taken a A$1.2 billion ($871 million) charge against second-half earnings to cover a record money-laundering fine...
European Insurers Worried Regulators May Block COVID-19 Dividends September 9, 2020 Global regulators should not ban insurers from paying dividends as a result of COVID-19 and should give firms more time...
Coordinated Twitter Hacking Raises Concerns About Platform’s Security July 16, 2020 By Joseph Menn and Raphael Satter The extraordinary hacking spree that hit Twitter on Wednesday, leading it to briefly muzzle some of its most widely followed...
Mining Groups Should Be Required to Buy Insurance for Tailings Dams: Report June 30, 2020 Mining companies should be required to buy private insurance for tailings dams and their board of directors should be held...
Insurers Must Re-Think Pandemic Response or Risk Reputational Damage: UK’s Airmic May 12, 2020 Airmic, the UK association for risk and insurance professionals, has urged the insurance market to adopt a more responsible and...
British Court Awards $11 Million to EY Whistleblower Who Exposed Money Laundering April 20, 2020 By Huw Jones and Peter Hobson A British court awarded $11 million in damages and expenses on Friday [April 17] to a former partner at global...
Australia’s Westpac Expects $578M Fine for Money Laundering Linked to Child Abuse April 14, 2020 By Byron Kaye Australia’s Westpac Banking Corp said it expects a A$900 million ($578 million) fine over accusations it enabled millions of illegal...
How P/C Insurance Industry Can Maximize Its Response to Coronavirus: Crisis Manager April 13, 2020 By Andrew G. Simpson “I’m shocked, just shocked that you’re suggesting that during a crisis that insurance companies might in fact be considered the...
Brazil’s Vale Knew Deadly Tailings Dam Was Unsafe as Far Back as 2003: Report February 24, 2020 By Anthony Boadle and Gram Slattery An independent investigation requested by Brazilian iron ore miner Vale SA into the causes of the Brumadinho tailings dam disaster...
Danske Bank Ex-CEO Faces $387M Lawsuit over Money Laundering Scandal February 24, 2020 By Christian Wienberg The ousted chief executive of Danske Bank A/S, Thomas Borgen, has been personally targeted in an investor lawsuit arguing he...