Many local U.S. authorities lack access to a database of suspicious bank activities that could aid financial crime investigations, a government watchdog found, as lawmakers call for greater scrutiny of money laundering at big banks.
Several major global banks and financial firms invested in U.K. startup CloudMargin, leading a funding round for its cloud-based collateral and margin management product.
Deutsche Bank’s chief financial officer continued to express confidence Tuesday that the investment bank will reach restructuring targets by 2022, despite the challenges presented by the COVID-19 pandemic.
U.S. Sens. Elizabeth Warren and Bernie Sanders called for heightened federal oversight of banks in the wake of a recent report that flagged the potential laundering of trillions of dollars through the world’s largest financial institutions.
Experts say a recent report about the potential laundering of trillions of dollars through the world’s biggest banks showcases a toothless regulatory system that’s regularly abused by banks, with little set to change unless direct action is taken by the government to modernize the reporting of illicit behavior.
Next Insurance could double its valuation to about $2.25 billion in its next financing round, when it will seek to raise around $250 million from investors, according to Bloomberg.
Mastercard, the second-largest U.S. credit card issuer, is encouraging employees to return to its New York-area offices, joining banks and other financial firms as they seek to bring staff back from remote work.
Euronext and CDP Equity revealed Friday that they are now in exclusive talks with the London Stock Exchange Group to acquire Borsa Italiana, Italy’s only major stock exchange, which was sought after by two other bidders.
Goldman Sachs became the second bank to send workers home from its Manhattan headquarters after at least one employee tested positive for COVID-19, according to a Bloomberg report.
An Israel-based company promises insurers state-of-the-art weaponry in the fight against fraud: artificial intelligence that reveals the “genuine emotional state of a person” when they file a claim.
European insurers called for an industry-driven approach to regulating the use of artificial intelligence, asking that government intervention be used only in the highest-risk situations involving the new technology.
A coalition of 60 U.S.-based companies is calling on the country’s insurance industry to stop insuring and investing in fossil fuels, the first time that business policyholders have publicly made this kind of push.
A U.S. federal judge approved an aggregate $187 million settlement agreement resolving an antitrust class action against seven of the world’s largest banks that claimed the banks colluded to misreport and manipulate LIBOR rates, harming eurodollar investors.
H2O Asset Management is struggling to unload bond holdings tied to a controversial financier, the London-based firm told investors on Wednesday, saying it has written them down by about 60% from their face value.
Deutsche Börse is acquiring a majority stake in Quantitative Brokers, a data analytics firm that helps automate securities trading, as part of a larger strategy to attract passive investors by expanding its technology-based tools.
A special-purpose acquisition company backed by private equity firm Apollo Global Management disclosed in a filing Wednesday that it is seeking to raise $750 million through its initial public offering, a move amid a significant jump this year in activity for such investment vehicles.
The Reserve Bank of Australia is not currently considering the issuance of a central bank digital currency, its payments policy department said Thursday, bucking the trend of most other central banks around the world.
The world’s largest banks are better equipped to handle the current crisis than the rest of the sector as a result of regulation and restructuring imposed after the 2008 financial crisis, Moody’s said Thursday.
Former students at ITT Technical Institute, a for-profit college that went bankrupt in 2016, will be forgiven of $330 million in private student loans that trusts set up by Deutsche Bank made, under a settlement with U.S. authorities.
Deutsche Bank will not require its U.S.-based employees to return to its New York office until next July, definitively signaling that the German bank is joining others in preparing for a long stretch of remote work.