He wrote a letter to the US Department of Justice in which he suggested that the $25bn fine is legally justified and clearly appropriate for what he called “the deadliest corporate crime in US history”. However, Cassell went on to say that the figure could be lower if Boeing boosts its safety measures and agrees…
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The DoJ had gathered evidence of Binance violating US anti-money laundering laws between US users and customers in countries such as Russia, Cuba, and Syria . Binance's CEO, Changpeng (CZ) Zhao, was specifically targeted for knowingly violating US regulatory requirements, resulting in his resignation from the exchange. Moreover, Changpeng paid a $150m fine and is awaiting…
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A statement by the US Justice Department confirmed the arrest of Storm on Wednesday in Washington State. Semenov, a Russian national, remains at large. In a CBNC interview, the assistant director in charge of the FBI’s New York field office, James Smith, commented: We’re treating this like any other fugitive now. We’re working with law…
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A world leader in payments, the company now finds its policies regarding this tokenisation initiative under the DOJ microscope. Visa confirmed that the department’s antitrust arm requested information on US-based debit card practices in May 2023. When using tokenisation technology, those with sensitive card numbers can use a token to make payments. This token is…
Read moreHSBC Holdings plc (NYSE:HSBC) announced that it has entered into a three-year deferred prosecution agreement with the US Department of Justice (DoJ) to resolve the DoJ’s investigation into HSBC’s historical foreign exchange sales and trading activities within its Global Markets business. Under the agreement, HSBC will pay a total of US$101.5m, including a US$63.1m fine…
Read moreDeutsche Bank had begun settlement talks with the US Department of Justice over its probe into the German bank’s origination and securitisation of mortgage-backed securities, as it posted a slump in second-quarter profits. John Cryan, chief executive, has made clear that he wants to resolve Deutsche Bank’s big outstanding legal cases quick. Deutsche Bank had…
Read moreLord Grabiner collected a fee of £400,000 for leading the investigation into whether the Bank of England participated in FX rate manipulation, with the entire report costing £3.5 million. US law enforcement authorities are now beginning to scrutinize the work carried out by Lord Grabiner
Read moreWill employees on trading desks in London inform US law enforcement officials on the actions of their superiors in exchange for guarantee of impunity?
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