Global Business Network
The European Commission set out an ambitious package of legislative proposals on July 20 outlining how the bloc plans to step up its efforts to tackle financial irregularities following a series of scandals. The measures include the establishment of a new anti-money laundering authority (AMLA) that will have direct supervisory powers and will seek to … Read more
UK job vacancies in financial services have risen sharply this year as the country begins to rebound from the pandemic, with demand for compliance and IT roles helping to drive up talent acquisition. The overall number of professional vacancies in banking and asset management, excluding clerical roles, reached the highest level in more than five … Read more
US bank mergers and acquisitions (M&A) had a buoyant April, which saw 16 deals with a combined value of $14.9bn during the month to April 27, according to Refinitiv data. Total deal value for 2021 to April 27 has already reached $26.3bn, compared with $7.1bn during the same four-month period in 2020. Among the deals … Read more
Financial services was one of the worst-affected industries by sophisticated bot traffic last year, according to US cyber security software company Imperva, which released its annual bad-bot report in April. Bad bots — software applications running automated tasks with malicious intent over the internet — accounted for 25.6% of all website traffic in 2020, according to … Read more
Indian finance minister Nirmala Sitharaman announced a huge $500bn budget on February 1, focused on healthcare and infrastructure and aimed at boosting the country’s Covid-19 ravaged economy. During her speech, she also committed the Indian government to forming a ‘bad bank’, in an attempt to tidy up the country’s struggling banking sector. India’s banks entered … Read more
The US government defence spending bill passed by Congress at the end of December included a new anti-money laundering (AML) whistleblower reward programme that has been heralded as a game-changer in efforts to clamp down on illicit money flows. The release of the FinCEN files last year highlighting how fraudsters have been able to move … Read more