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Banks and financial firms have received discounts of £1.2 billion on fines imposed by the UK Financial Conduct Authority (FCA) in the last four years, recently released data by the think-tank New City Agenda has revealed.
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Financial organisations are under threat by cybercriminals looking to exploit alternative lending and payment models by taking advantage of the time delays inherent in reporting loan agreements to credit bureaus. This results in substantial financial gain for these criminals.
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More crew were kidnapped at sea in 2016 than in any of the previous 10 years, despite global piracy reaching its lowest levels since 1998, the ICC International Maritime Bureau's (IMB) annual piracy report revealed today.
UN General Assembly grants Observer Status to International Chamber of Commerce in historic decision
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New York, 13 December 2016 – In an unprecedented move, the United Nations (UN) General Assembly has today granted Observer Status to the International Chamber of Commerce (ICC)—the world’s largest business organisation representing more than six million members in over 100 countries.
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The fight against money laundering has been given a further boost now that the European Parliament has backed proposals for tax authorities across Europe to automatically share details about bank account holders.