Favored in crime, €500 banknote finds its days are numbered

May 4, 2016

Favored in crime, €500 banknote finds its days are numbered

The European Central Bank was set to decide on Wednesday the fate of the €500 bank note, which many people associate with money laundering, the black market and terrorist financing. But its possible abolition is raising hackles in countries such as Germany. The violet-colored ...

FBI to assist probe into $81 million Bangladesh heist

Mar 21, 2016

FBI to assist probe into $81 million Bangladesh heist

Bangladesh police met an official of the U.S. Federal Bureau of Investigation (FBI) in Dhaka on Sunday to try to track down culprits in an attempted $951 million cyber heist from the country’s central bank. Initial investigations aim to identify the origin of a ...

Mar 18, 2016

Philippine bankers in Bangladesh heist say they 'feared for lives'

A Philippine banker shifted $81 million stolen from Bangladesh’s central bank into various accounts because she feared for her life, her colleague told a parliamentary investigation on Thursday. Maia Deguito, manager of the Rizal Commercial Banking Corp. (RCBC) branch in Manila’s financial district could ...

Jun 22, 2015

Banks did too little to police FIFA transactions, says global body

A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer’s global governing body FIFA, and cautioned banks to step up scrutiny. The warning from the Paris-based Financial Action Task Force ...