Almost $10 MLN fined by Deutsche bank over Euribor controls
German financial regulator BaFin has fined Deutsche Bank nearly $10 million for controls which is related to the Euribor interest rate. This is in a setback for the nation’s largest lender as it seeks to restore its reputation. The 8.66 million euro $9.77 million fine announced on Wednesday is the first imposed by BaFin under a 2018 […]
Alpha bank agrees sale of ban loan portfolio
Alpha Bank is one of Greece’s four biggest lenders. It entered into a binding agreement with Hoist Finance AB to sell non-performing loans with a book value of 1.3 billion euros ($1.47 billion). In a press the bank said that, the Orbit portfolio relates to retail unsecured non-performing loans with the sale expected to be completed […]
Human – AI partnership against financial crime
It’s now over six months since Brexit. There are opportunities opening up for the UK to take advantage of new-found regulatory freedom. The domestic financial services industry is also seeing rising instances of organised fraud. A recent report from Cifas, the UK’s fraud prevention community, stated that during the first six months of 2021 there was an 11% […]
Mizuho bank acquires 7.5% stake
Japan’s Mizuho Bank is going to acquire a 7.5 percent stake in the M-Service company. This is to leverage the Vietnamese company’s retail business. The bank is expected to invest up to $170 million by the end of 2021. Reports indicated that Mizuho Bank has been lagging behind its peers in overseas investment. With their […]