The recent seizure of a cargo ship owned by JP Morgan, a vessel loaded with 20 tons of cocaine according to latest accounts, highlighted the risks of banks’ involvement in illicit activities, inadvertent or otherwise. And although U.S. authorities released the MSC Gayane after the owner, JP Morgan’s asset management arm, and the operator, Mediterranean Shipping Company, paid a $50M in cash and surety bond, the stain remains and this is not the … [Read more...] about Money Laundering Fines Worth Billions Help Bankers Avoid Prosecution and Unpleasant Labels
Finance
Money Laundering Scandals Bring Court Charges and Record Job Cuts to Euro Banks
The international financial establishment is known to express concern about the risks of money laundering when the crypto space is mentioned. A string of scandals indicates, however, that traditional banks are not only susceptible to the phenomenon but sometimes complicit, whether knowingly or inadvertently. New chapters have been added to the saga over the last few months that are hurting banks, bankers and their clients. Also read: Three Bank … [Read more...] about Money Laundering Scandals Bring Court Charges and Record Job Cuts to Euro Banks
‘Don’t Worry We Can Just Print More Money’ – Swedish Central Bank Ponders -1.5% Interest Rate
At a press conference on Wednesday, the head of the Swedish Central Bank admitted that interest rates could potentially go as low as -1.5%, and quipped that Swedes likely wouldn’t even protest. Other countries implementing negative interest rate policies are producing lukewarm results that don’t address the root causes of currency devaluation. Nor do they change the bleak overall trajectory of fiat financial systems across the globe. Also read: … [Read more...] about ‘Don’t Worry We Can Just Print More Money’ – Swedish Central Bank Ponders -1.5% Interest Rate
Three Bank Failures Open New Chapter in Never-Ending Financial Crisis
The collapse of three banks on three different continents indicates a new global crisis is brewing. But it may also show that the last one never really ended and the tools used to manage the global economy simply don’t work. Also read: Side Effects of Economic Growth: Is Snowden Right to Say Bitcoiners Shouldn’t Be Bankers? US Bank Fails for the First Time Since 2017 More than 10 years have passed since the collapse of Lehman Brothers, which … [Read more...] about Three Bank Failures Open New Chapter in Never-Ending Financial Crisis
Bitcoin Cash ETP Lists on Leading Swiss Stock Exchange
Cryptocurrency tracking instruments traded on established equity exchanges allow institutional and retail investors to gain exposure to digital assets. Now there is a new option to invest in bitcoin cash (BCH) with an exchange traded product in one of the most advanced markets in the world. Under the ticker ABCH, bitcoin cash is the sixth Amun crypto-asset tracker listed on the Swiss stock exchange Six. Also Read: Over 22,000 Traders Have Now … [Read more...] about Bitcoin Cash ETP Lists on Leading Swiss Stock Exchange