Bank of America will pay a $10 million fine and reimburse nearly $600,000 in costs to thousands of customers whose accounts were illegally seized, the Consumer Financial Protection Bureau announced Wednesday. The CFPB said its enforcement action stemmed from the nation’s second-largest bank handling illegal out-of-state garnishment orders on itsRead More →

In short Since discovering that the police’s use of a “non-consent regime” (“Diet“) in the freezing of accounts containing alleged proceeds of crime was unlawful and unconstitutional, the Hong Kong Magistrate’s Court has now issued its decision on reparations and costs in Tam Sze Leung & Ors c. Police CommissionerRead More →

The Enforcement Department announced on Saturday that it had seized ₹5,551.27 crore owned by Xiaomi Technology India Pvt Ltd – a “wholly-owned subsidiary of the China-based Xiaomi Group” – under the provisions of the Foreign Exchange Management Act 1999. The polling firm said that the money was in bank accountsRead More →

WASHINGTON — The Justice Department filed a lawsuit Thursday against Donald Trump’s former campaign chairman Paul Manafort — who was found guilty in Special Counsel Robert Mueller’s Russia investigation and later pardoned. later – seeking to recover nearly $3 million from undeclared foreign bank accounts. The lawsuit, filed in federalRead More →

European banks can apply lighter anti-money laundering checks to Ukrainian refugees to ensure they can open basic bank accounts, the EU banking regulator said on Wednesday. Banks and supervisors should ensure that refugees can access the EU financial system without having to zealously comply with anti-money laundering rules, the EuropeanRead More →

KUALA LUMPUR (April 20): Struggling lingerie maker Caely Holdings Bhd, which saw the Malaysian Anti-Corruption Commission (MACC) issue a freezing order on all operational bank accounts of the company and its subsidiaries , said it understands stakeholder concerns and is working as quickly as possible to resolve any issues arisingRead More →

The old saying goes, “You can’t take it with you,” but the question remains: what happens to the bank accounts you leave behind? The answer depends on a few factors, including whether the account is a joint account, whether there is a will, and whether a beneficiary is named. ForRead More →

BEST FOR: HIGH APY AND ATM REIMBURSEMENT Alliant High Rate Checking – 0.25% Alliant offers joint account holders access to convenient online banking with no monthly service fees as well as a wide range of financial products. Alliant is an online only credit union based out of Chicago, but anyRead More →

Ukrainian President Volodymyr Zelensky on Saturday urged Switzerland to crack down on Russian oligarchs who he said were helping wage war on his country from the safety of “beautiful Swiss cities”. In an audio link address to thousands attending an anti-war protest in Bern, Zelenskyy thanked Switzerland for its supportRead More →

Wealthy Russians have around $200 billion stashed away in super-secret Swiss bank accounts, the country’s banking industry association estimates, quoted by Reuters. In a rare public statement on client holdings, the Swiss Bankers Association said it estimated Russians held 150-200 billion Swiss francs ($161-214 billion) in banks based in theRead More →

Ashland County officials are set to close separate bank accounts operated by the Ashland County Sheriff’s Office after a financial audit revealed their existence. The Ashland County Finance Committee approved a recommendation from county financial consultants to close two of four separate bank accounts totaling more than $150,000 in revenue.Read More →

The federal government has ordered banks to freeze the accounts of dodgy loan sharks after raiding their offices. The government has also written to Google and Apple to remove loan apps that violate the country’s laws. Specifically, the Federal Competition and Consumer Protection Commission (FCCPC) ordered digital money lenders thatRead More →

Chelsea have had several credit cards temporarily frozen while assessing the club’s new operating license at Stamford Bridge, according to the PA news agency. Roman Abramovich’s government sanctions have frozen all of the billionaire’s UK assets except Chelsea, with the club continuing to operate under special and strict conditions. ChelseaRead More →

Chelsea have had several accounts temporarily frozen while banks assess the club’s new operating license at Stamford Bridge, according to the PA news agency. Roman Abramovich’s government sanctions have frozen all of the billionaire’s UK assets except Chelsea, with the club continuing to operate under special and strict conditions. OwnerRead More →

Chelsea’s tumultuous week has taken another turn for the worse with news that Barclays have temporarily frozen the club’s bank accounts. The Blues have been hit by news that the UK government imposed sanctions on owner Roman Abramovich on Thursday which limited their ability to operate. A d The governmentRead More →

When thieves intercept checks you’ve written, forge signatures to cash them, and steal your money… it’s not always easy to get help. In many cases, the fraud victim loses thousands of dollars even though their bank cashed the forged or fraudulent checks. Our KPRC 2 Investigates team gets answers onRead More →

Serving Russian Customers Is Both a Risk and an Opportunity for Exchanges: Crypto Moves Cryptocurrency exchanges Coinbase and Binance reiterated on Friday that they have no plans to block their Russian customers from using their platforms, even as traditional financial firms keep their distance. On February 27, Ukrainian Deputy PrimeRead More →

Chinese yuan coins and banknotes are seen in this illustration photo taken February 24, 2022. REUTERS/Florence Lo/Illustration/File Photo Join now for FREE unlimited access to Register SHANGHAI, March 3 (Reuters) – The Moscow branch of a Chinese state-owned bank has seen a surge in requests from Russian companies wantingRead More →

Pump jacks are seen in the Ashalchinskoye oil field owned by Russian oil producer Tatneft near Almetyevsk in the Republic of Tatarstan, Russia July 27, 2017. Picture taken July 27, 2017. REUTERS/Sergei Karpukhin Join now for FREE unlimited access to Register MOSCOW, March 1 (Reuters) – Some Russian oilRead More →

February 23, 2022 Business By Alois Vinga The Financial Intelligence Unit (FIU) of the Reserve Bank of Zimbabwe (RBZ) has ordered the freezing of the bank accounts of four companies after detecting money laundering activities. The entities concerned are: Transerv, Powerspeed Investments, Electrosales, Halsted Brothers Ltd and Enbee Store. InRead More →

The Government of Canada is releasing accounts linked to organizers of the truckers’ protest that blocked traffic in downtown Ottawa for three weeks and was cleared by police over the weekend. Assistant Deputy Minister of Finance Isabelle Jacques told the Canadian Parliament’s Finance Committee on Tuesday that up to 206Read More →

POLICE investigating ex-Chelsea striker Diego Costa for an alleged betting scandal have won a court order to examine his bank accounts. The 33-year-old, currently a free agent after terminating his contract with Brazilian top-flight side Atletico Mineiro, was named last October as one of those questioned by detectives in theRead More →

Ammon News – The Royal Hashemite Court has been following recently published media reports about His Majesty King Abdullah II’s bank accounts, which included inaccuracies and outdated and misleading information that was used to defame Jordan and His Majesty, as well than distort the truth. In accordance with the principlesRead More →

In accordance with a civil court ruling, the bank accounts of the Maldives Integrated Tourism Development Corporation (MITDC) have been frozen while the passports of the company’s board of directors have been confiscated. The decision was made regarding unpaid dues to a private company, Crystalline Maldives, according to information fromRead More →

Mr Tan stressed that recovering money lost to scams is “very difficult”. “Where we have been able, this has involved close partnerships with financial institutions, in particular having DBS staff co-located with SPF at CSA to provide faster, real-time coordination and response.” As such, ASC and MAS are working withRead More →

The House of Representatives expressed concern over the 45 million accounts that hold funds worth over N1.2 billion. To this end, the House of Representatives Ad Hoc Committee on Unclaimed Funds in Nigerian Commercial Banks and Offenses by the Central Bank of Nigeria has opened an investigation into the matter.Read More →

Getting older opens up a world of discounts available only to those in their prime. In addition to savings at your favorite restaurant, seniors can take advantage of discounts on banking services. Senior-friendly bank accounts can have benefits such as no monthly maintenance fees (or waivers of fees), free checks,Read More →

MONEY APP REVOLUT is expected to start offering traditional banking products, including credit cards and personal loans, to Irish customers this year after obtaining a full European banking licence. The fintech company, which is currently regulated by the Central Bank of Lithuania, plans to increase its offering to Irish customersRead More →

Controversy over ‘quid pro quo’ agreements between Megha Krishna Reddy and senior Telangana IAS officer Rajat Kumar, who works as a special chief secretary in the irrigation department, refuses to die down even after the MEIL group (Megha Engineering and Infrastructure Ltd) and Rajat Kumar have denied the sensational reportRead More →

• Threat to sue uncooperative banks Ahead of the 2023 general election schedule, the Independent National Electoral Commission (INEC) must shine its spotlight on politicians and political parties in a bid to track sources of funding for their campaigns. INEC Chairman Prof. Mahmood Yakubu publicized the plan at a politicalRead More →

BUSTED National Bureau of Investigation Spokesman Ferdinand Lavin introduces Nigerians Ifesinachi Fountain Anaekwe and Chukwuemeka Peter Nwadi, and Filipinos Jherom Anthony Taupa, Ronelyn Panaligan and Clay Revillosa, who were arrested earlier this week for their alleged involvement in the “draining” of money from hundreds of BDO accounts in December lastRead More →

vgajic/Getty Images If you’re looking to build wealth in a savings account, you’re usually out of luck. The national average rate paid on savings accounts is just 0.04%, and many large traditional banks offer a meager 0.01% APY on savings balances. But there are plenty of banks – mostly onlineRead More →