Practices in the UAE financial sector ‘no longer tolerated’
Some formerly tolerated business practices in the Middle East’s financial services sector are now subject to clearly set out restrictions,…
Legal
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Grant Thornton partner detained in Dubai
David Ingram, a partner in the insolvency and proceeds of crime team and a licensed insolvency practitioner at Grant Thornton…
Massive fraud puts 54 in Abu Dhabi court
Defence witnesses will take to the stand on Sunday on behalf of 54 men charged with scamming almost 2,000 people…
CMS Partners with Saudi Arabian Law Firm
CMS will partner with Feras Al Shawaf, a Saudi Arabian law firm based in Riyadh in an exclusive agreement. …
U.S. charges ex-Turkey minister with sanctions evasion
U.S. prosecutors have charged a former Turkish economy minister and the ex-head of a state-owned bank with conspiring to violate…
Companies incur big losses as IT frauds rise
The incidents of IT-based frauds are rising in organisations, raising concern among corporates and external key stakeholders on how to…
Germany plans to file lawsuit against Kuwait on tax evasion
MP Saadoun Hammad, a member of the committee that was formed by the National Assembly to investigate the financial irregularities…
Criminal Probe of Former Bank Execs Worries Other Israeli Bankers
As former executives at Bank Leumi face criminal investigation over the bank’s alleged involvement in helping customers of its U.S.…
Swiss private bank hands to investigators documents related to UAE ambassador linked to 1MDB and Jho Low
Swiss private bank Lombard Odier has handed over to investigators about 900 pages of documents related to Yousef Al Otaiba,…
U.S. watchdog may fine Habib Bank, Pakistan's biggest lender, up to $630 million
The New York State Department of Financial Services said it is seeking to fine Habib Bank Ltd, Pakistan’s biggest lender,…
Bank employees pocket $10m in bribes
A bank’s business developer, an officer and a salesman who pocketed a $10m bribe to offer bank facilities to ineligible…
Egypt court acquits Hussein Salem of money laundering
The Cairo Criminal Court, headed by Judge Mohamed Amir Gadou, has acquitted businessman Hussein Salem and his two children Khaled…