Bank News - Daily

Eng | Rus


Updatings

  • IWBank S.p.A.
  • UBI Banca
  • UCO Bank
  • BankAtlantic
  • Bradford Bank


  • The World Facts

    November, 12 123 banks were already ruined in the USA from the beginning of 2009, in 2008 - 26, in 2007 - only 3.

    September, 24 One of the largest Japanese banks Aiful Corp. to axe almost 2000 jobs (44%).

    June, 23 CEE Banking Sector Report: Total assets in CEE Banking sector grew 25 per cent in 2008 to €1,772 billion.

    May, 13 Citigroup uses almost $45 billion TARP Funds for Loans.

    May, 11 Bank of America is going to sell a 5.8% stake in China Construction Bank Corp. for about $7.3 billion.

    More facts...


    Newsletters



    All News

    Brazilian police have arrested bankers

    Brazilian police have arrested 20 people including an employee of UBS on suspicion of crimes including money laundering, tax evasion and illegal transfer of money overseas.

    The operation provides further evidence of the willingness of Brazil's police to tackle white collar crime, often with the co-operation of overseas forces. Police said those arrested included three bank employees - two foreign and one Brazilian - six or seven black market currency traders, and wealthy Brazilian individuals.

    According to police, the group had been illegally transferring money overseas at a rate of R$7m ($4m) a month for at least the past six months. UBS confirmed that a Swiss-based employee had been arrested in Sao Paulo and that the bank was in touch with the Brazilian authorities. Some 280 federal agents took part in Tuesday's operation, carrying out 44 search warrants in addition to the arrests. Some R$6m in cash was apprehended, together with between $600,000 and $700,000, also in cash.

    This is the second federal police operation to involve large foreign institutions in as many months. In October, police arrested 40 people including three acting senior executives and one former president in Brazil of Cisco Systems, the US technology giant, for alleged tax fraud and other crimes involving evasion of up to R$1.5bn in import duties and other taxes.

    A person familiar with the matter said it appeared the arrested UBS employee was a low-level member of staff who had no connection to UBS's investment banking operation in Brazil, UBS Pactual. UBS has expanded its operations in Brazil since it bought Pactual, one of a small group of aggressive and successful local investment banks, for $2.6bn last year.

    Police said the foreign banks involved in the scheme were offering services, such as banking secrecy, no longer offered by their affiliates in Brazil. The 20 will be held in custody for five days, after which the police may request that they be held for a further five days and following that, for an indefinite period. Nine people arrested in last month's operation, including the former president of Cisco in Brazil, will remain in police custody.


    [136] 08.11.2007
    Source: Financial Times


    Popular News

    
    French Bank to Repay Government Bailout - 14.10.2009
    Crédit Agricole, the French bank, said Wednesday that it would repay the €3 billion of debt the government bought last December, becoming the latest big bank to pay back a bailout.
    Source: New York Times
    Up to 175,000 students still waiting for loans and grants - 09.10.2009
    Up to 175,000 students are still waiting for their loans and grants a week after university courses started, it emerged today.
    Source: Guardian.co.uk
    Card fraud in the UK falls by 23% - 08.10.2009
    The amount of money being lost through card fraud fell by 23% in the first half of the year in the UK, as criminals changed their strategies and prevention measures began to take effect, according to figures published today.
    Source: Guardian.co.uk
    The trend: large banks will acquire smaller banks - 18.09.2009
    KBW Inc., the New York-based boutique that advises financial institutions, expects 500 to 1,000 U.S. banks to fail by 2011, Chief Executive Officer John Duffy said.
    Source: Bloomberg
    Colonial Banc Group declares bankruptcy - 15.08.2009
    Colonial became the largest US bank to fail this year after it was declared bankrupt and had the bulk of its assets taken over by rival BB&T, the government banking insurer said Friday.
    Source: Agence France-Presse
    Fighting economic crisis in U.K. - 27.07.2009
    Current economic difficulties in U.K. were caused by global financial crises and have resulted into the following changes in the country's economy in 2007-2008:
    Source: BanksDaily.com
    The European Central Bank injects €442 billion into banking system - 25.06.2009
    The European Central Bank (ECB) allotted €442 billion to banks for 12 months, the biggest amount it has ever given in a single auction. The amount was more than most economists had expected.
    Source: RTTNews

    International directory of banks © 2006-2009