BANKING
UK Banking Rules Looking to Shake Things Up
Post-Brexit era UK is looking to shake things up with a sweeping volume of banking rules reform.
The planned reforms are called “The Edinburgh Reforms” and looks to be one of the biggest reform in thirty years.
FINTECH
FTX Isn’t the Only Disgrace in Finance…
With all the focus on FTX recently, don’t forget Wirecard, the disgraced German credit-card payment processing firm, who also went from darling to disgrace.
The fraud trial for Wirecard has begun relating to questionable accounting practices.
BANKING
Santander UK Fined for Money Laundering Oversights
Stop me if you’ve heard this one before: Big bank gets big fine due to failure to prevent money laundering.
Just swap out your choice of big bank name.
In this case, Santander UK, is fined £108m over failures in overseeing money laundering systems & processes.
You have to start wondering if these big fines work at all at getting banks to take money laundering more seriously.
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