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’ Coronavirus BI Claims Likely to Be Limited: Moody’s, ABI March 20, 2020 Insurers in the UK, France and Germany are likely to face only moderate business interruption (BI) claims as a result...
Swedbank Slapped with Record $386M Fine for Money-Laundering Breaches March 20, 2020 By Colm Fulton, Johan Ahlander and Simon Johnson Sweden’s financial watchdog hit lender Swedbank with a record fine of 4 billion crowns ($386 million) on Thursday for serious...
Directors and Officers Face Significantly Higher Range of Risks: Allianz Report December 4, 2019 The range of risks facing company executives, or directors and officers (D&Os), has increased significantly in recent years along with...
S&P Revises Qatar Insurance Outlook on Financial Risks from $308M Markerstudy Loan November 25, 2019 S&P Global Ratings said it revised its outlook on Qatar Insurance Co. S.A.Q. (QIC) to negative from stable, although it...
New Swedbank CEO, Hired from Folksam, Criticized for Ties to Scandal-Hit Bank August 29, 2019 By Veronica Ek, Hanna Hoikkala and Niklas Magnusson Sweden’s biggest shareholder group has criticized Swedbank AB’s choice of chief executive officer, arguing the board opted for an insider...
Fallout from Money Laundering Scandal Continues as Fines Loom for Swedbank July 17, 2019 By Frances Schwartzkopff Swedbank AB acknowledged it will no longer be able to live up to its goal of paying out one of...
UK Risk Managers List Brand Damage, Brexit, Cyber Attacks as Top 3 Business Risks May 20, 2019 The top three risks facing UK risk managers are reputational damage, Brexit and cyber attacks, according to Aon’s 2019 Global...
Risk Managers Rank Economic Slowdown, Damage to Reputation as Top 2 Risks: Aon April 29, 2019 Economic and global trade concerns are challenging organizations’ ability to invest adequately in preparing for and protecting the continuity of...
Explaining Europe’s Growing Money Laundering Scandal April 8, 2019 By Francesco Guarascio The largest ever money laundering scandal in Europe is rippling through the region’s banks. It began in the Baltics and...