Middle East firms need UK Bribery Act compliance programmes, conference hears
Experts have warned that firms operating in the Middle East must implement robust anti-bribery programmes to offset the risks posed…
Fraud & Ethics
710 articles found
HSBC given priority in fight for assets of Al Gosaibi business family
HSBC, one of the largest creditors to the indebted Al Gosaibi business family of Saudi Arabia, faces a court battle…
Iran bank chiefs ousted in $2.6 bln fraud fallout
A $2.6 billion financial fraud that has shaken the government of Iranian President Mahmoud Ahmadinejad saw the heads of three…
UBS jobs in peril as CEO quits over alleged rogue trader scandal
Fears for hundreds of City jobs were raised on Saturday after the dramatic resignation of the boss of UBS, who…
Iran detains 19 suspects in $2.6bn bank fraud case
Iranian authorities have detained 19 people suspected of being involved in a $2.6 billion bank fraud scheme which is regarded…
Capital flight from Egypt and Libya hit $8 billion during Arab Spring
The Arab Spring drained more than US$8.6 billion (Dh31.58bn) in bank deposits from Egypt and Libya in the first three…
U.S. tax-evasion probe turns to Israeli banks
The U.S. pursuit of offshore tax evaders is widening to include Israel, where U.S. authorities are scrutinizing three of Israel's…
Iran hit by massive $2.6 bn banking scam
Several Iranian banks have been targeted in one of the biggest frauds in the Islamic republic's history, losing nearly $2.6…
Brazil Blocks Transfer to Libya to Prevent Funding for Qaddafi
A Brazilian court blocked dividend payments from a bank indirectly controlled by the Libyan central bank to prevent the proceeds…
Former Hapoalim chairman to be indicted
State Prosecutor Moshe Lador has decided to indict former Bank Hapoalim chairman Dan Dankner on charges of bribery, aggravated fraud,…
IMF report exaggerated against money laundering
An experienced local banking industry professional has condemned last week's International Monetary Fund (IMF) report concerning what it claimed is…
Kuwait financial sector may draw money launderers: IMF
Rapid growth of Kuwait's financial sector could create an attractive environment for money launderers , International Monetary Fund said in…