11/26/2015

Barclays fined for lax crime checks in 'deal of century'

The failings relate to a £1.88 billion pound transaction (Transaction) that Barclays arranged and executed in 2011 and 2012 for a number of ultra-high net worth clients. The clients involved were politically exposed persons (PEPs) and should therefo

11/26/2015

Banks explain extra information requests

The Bermuda Bankers’ Association said that banks are now asking for additional information and documentation, from both new customers and existing ones.

11/25/2015

Deutsche Bank's Swiss Unit to Pay $31 Million in Tax Case

The Department of Justice has announced that Deutsche Bank (Suisse) SA (Deutsche Bank Suisse) reached a resolution under the department’s Swiss Bank Program. Deutsche Bank Suisse will pay a penalty of more than $31 million.