NEWSWORTHY
The cover-up: Malaysian officials reveal just how much 1MDB probe was obstructed
The government of former Malaysian Prime Minister Najib Razak spent years systematically obstructing probes into the alleged looting of state fund 1MDB while also ruthlessly muzzling critics, according to current and former government officials. They said the meddling in the investigation by the Malaysian Anti-Corruption ...
The Financial Services Agency has told banks to report any suspicious money transfers involving 10 Japan-North Korea joint ventures, two people with direct knowledge of the matter said Friday. A government official and a manager at a major Japanese bank said the agency on Monday ...
Days are numbered for ATMs in Japan's banking system
On May 2, Shinsei Bank announced that starting from October it will impose fees for automatic teller machine (ATM) transactions. Shinsei's main sales point has always been its lack of ATM fees, but the bank will start charging ¥108 per ATM withdrawal unless the ...
A bank in Shizuoka provides a lesson in what regional banks should not do to survive the industry's tough business conditions.
U.S. Fed moves to ease post-crisis Dodd-Frank rule on reckless bank trading
The Federal Reserve took a first step on Wednesday to soften a key rule enacted after the 2008 financial crisis to limit high-risk trading by banks. The Fed, in one of its first major moves by appointees of President Donald Trump, said it aimed to ...
Police seize luxury bags, cash, jewelry during probe of former Malaysian Prime Minister Najib
Malaysian police confiscated 284 designer handbags and 72 suitcases containing cash, jewelry and other valuables Friday as part of a corruption and money-laundering investigation into former Prime Minister Najib Razak. Commercial crime chief Amar Singh said the valuables were seized in a search that began ...
Eight-year prison term sought for president of failed Tokyo travel agency Tellmeclub
Prosecutors are demanding eight years behind bars for the president of failed travel agency Tellmeclub, who is accused of defrauding two banks of about ¥550 million in loans by doctoring earnings data. While prosecutors claimed Monday that Chikako Yamada, 68, was "selfish and irresponsible in ...
Regional banks fight for inheritance to ensure their survival
Where there's a will, there's a way. That's what banks across Japan are counting on as they try to keep hold of the ¥50 trillion in wealth left by their customers each year when they die. With more than a million Japanese dying annually, smaller ...
Three mega-banks consider sharing ATMs to boost profitability
Japan's three megabanks are considering the joint management and development of ATMs to cut costs and boost profitability, as they are currently struggling in the extremely low interest rate environment, a source close to the matter said Friday. MUFG Bank Ltd., Mizuho Bank Ltd. and ...
Total net profit at Japan's three mega-bank groups likely to grow for first time in four years
The total net profit for Japan's three mega-bank groups are believed to have grown year on year for the first time in four years in the fiscal year that ended in March. The performance stems from an expected reversal of loan-loss allowances thanks to an ...
Sony Bank, a unit of Sony Financial Holdings Inc., says it will introduce automated preliminary screening for housing loan applications using artificial intelligence technology. The system, use of which is scheduled to start Thursday, will shorten the preliminary screening process from the current two to ...
Palestinian president widely slammed for alleged anti-Semitic remarks on Jewish banking role
Palestinian president Mahmoud Abbas drew widespread condemnation Wednesday, including from the European Union and the United States, over alleged anti-Semitic comments suggesting the "social function" of Jews in banking had led to past massacres. The 82-year-old Abbas made the comments during a free-wheeling speech that ...
