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CHANTILLY, France (Reuters) - Group of Seven finance chiefs cast a cloud over prospects for Facebook’s Libra digital coin on Wednesday, insisting tough regulatory problems would have to be worked out first.
STOCKHOLM (Reuters) - Swedbank (SWEDa.ST) will cut the amount of dividends it pays from profits and has set new targets to strengthen its capital as the bank faces fallout from a Baltic money laundering scandal.
TOKYO (Reuters) - Japan’s government is leading a global push to set up an international network for cryptocurrency payments, similar to the SWIFT network used by banks, in an effort to fight money laundering, a person familiar with the plan said on Thursday.
RIGA, Latvia — One was a dodgy investment adviser who used a pyramid scheme to bilk unsuspecting Russians out of $10 million. Another was a Taiwanese businessman who was secretly helping North Korea buy precision tools for its nuclear weapons program. Yet another was a corrupt Ukrainian politician spiriting millions of embezzled dollars out of his country.
The head of the United Nations’ atomic agency is preparing to step down early, potentially kicking off a fight for control of the agency that has oversight of Iran’s nuclear program, diplomats said.
Regulators will need to “step up” to contain any dangers emanating from digital currencies such as Facebook Inc.’s planned Libra token, but shouldn’t attempt to crush the initiative, according to International Monetary Fund acting Managing Director David Lipton.
SEOUL—The Mercedes-Benz limousines seen chauffeuring around North Korean leader Kim Jong Un this year have stumped outsiders over how the sanctions-hit regime obtained the luxury rides.
Latvia’s financial watchdog has fined Rigensis Bank, the Baltic country’s 11th biggest bank by assets, 1 million euros ($1.1 million) for lax anti-money laundering controls, it said on Monday.
After a U.S. money-laundering probe rocked Latvia’s economy, sending one of its largest banks belly up, the Baltic nation’s U.S.-born leader is trying to convince Washington and business leaders that he’s cleaning up his country’s financial system for good.