Banking Law. Legal news and articles for April 25 - 26, 2017

Lloyds Bank to start compensating HBOS fraud victims as ex-judge heads inquiryBrandon Woodrome gets 82 months in federal prison for wire, bank fraudReverse racism and liberal hypocrisyBlunder after blunder in $60m fraudNBI conference3 arrested, accused of following bank...AIB Fined Over Anti-Money Laundering and Terrorism ComplianceFraud watch: It's not the government callingChinese bank in customs fraud inquiryWoman in Simpson bank robbery to be sentenced next weekCerner fraud conspirator sentenced to 12 years in prison in KC, must pay $19 millionWells Fargo Directors Face Wrath for Complicity In Bank CorruptionU.S. Rep. Williams: CHOICE Act will punish bad actorsCall it Denny Hastert's legacy: End the statute of limitations on sex abuse crimesGuilty plea expected in ATM scam

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Parliamentary panel calls for amending laws to disclose names of loan defaulters
Hindustan TimesMarch 26, 2017

Section 44 of the State Bank of India Act, 1955, as well as some other clauses of confidentiality in the relevant laws invariably prohibit disclosing the names of individuals, who owe money to banks or are responsible for bad loans on account of their ...more »

A vaccination for financial crime
Banking TechnologyMarch 27, 2017

Transaction monitoring is emerging as one of the top priorities for banks and other financial institutions. Some now employ up to three per cent of their workforce to track financial crime. But, as leadership teams look to increase the effectiveness of ...more »

Banking Law. News and Stories

Lloyds Bank to start compensating HBOS fraud victims as ex-judge heads inquiry
Belfast TelegraphApril 26, 2017

This includes providing interim payments to help those in day-to-day financial difficulty as a result of the fraud, covering "reasonable" fees for professional advice to customers and writing off remaining business and personal debts owed to Lloyds and ...more »

Brandon Woodrome gets 82 months in federal prison for wire, bank fraud
Times RecordApril 26, 2017

During his testimony Tuesday, Brandon Woodrome said he was made aware of a debt to the Internal Revenue Service in late 2014. It appears to have ... Matthew Horan, the defense attorney for Woodrome, told the judge that his client's case was “out of the ...more »

Reverse racism and liberal hypocrisy
Detroit Metro TimesApril 26, 2017

"Bert Johnson bounced a $7,500 check to me — twice," one of the state's most prominent female lawyers told me. Then, she said, he lied ... "Here he wanted me to challenge the unethical acts of a state rep. just as he was writing bad checks to me," the ...more »

Blunder after blunder in $60m fraud
Trinidad & Tobago ExpressApril 26, 2017

BANKING BUSINESS: First Citizens director David Inglefield, right, speaks to chairman Anthony Smart and Group chief executive officer Karen Darbasie before the start of the bank's 20th annual meeting of shareholders on Monday at Hilton Trinidad, St Ann's.more »

NBI conference
Himalayan TimesApril 26, 2017

KATHMANDU: National Banking Institute Ltd (NBI) is organising a one-day conference on 'Financial Fraud' in association with Fintelekt, India, on April 27 in Kathmandu. The programme is aimed at reviewing and reflecting on banking frauds like cyber ...more »

3 arrested, accused of following bank...
KPRC HoustonApril 26, 2017

HOUSTON - Deputies with the Fort Bend County Sheriff's Office and members of the Houston Police Department's Northeast Tactical Unit arrested three suspects Tuesday afternoon. They are accused of "jugging." Jugging is a crime common in the Houston ...more »

AIB Fined Over Anti-Money Laundering and Terrorism Compliance
BloombergApril 26, 2017

The central bank fined AIB about 2.3 million euros and reprimanded it for six breaches of the law, which the lender has admitted to, the regulator said in an emailed statement Tuesday. AIB said separately that the settlement related to issues occurring ...more »

Fraud watch: It's not the government calling
Lewiston Sun JournalApril 26, 2017

The scammers may use various tactics to "verify" a person's personal information, which they can use to steal money from bank accounts or for other fraudulent activity. The Office of Inspector General said it does not use its hotline telephone number ...more »

Chinese bank in customs fraud inquiry
The Times (subscription)April 25, 2017

Scrutiny of a Chinese bank's operations in London was stepped up after its counterpart in Spain was raided on suspicion of laundering millions of euros for criminal syndicates. Law enforcement sources said that City regulators had visited the ...more »

Woman in Simpson bank robbery to be sentenced next week
Bowling Green Daily NewsApril 25, 2017

A Simpson County woman who has admitted to robbing a Franklin bank will be sentenced in federal court next week, and the presiding judge has to sort through competing portrayals of the woman presented by attorneys in the case. ... Brewer's court ...more »

Cerner fraud conspirator sentenced to 12 years in prison in KC, must pay $19 million
Topeka Capital JournalApril 25, 2017

He pleaded guilty in October to conspiracy to commit wire fraud. Prosecutors say the conspirators created a fake Cerner business entity, a fake Cerner bank account, a fake Cerner Internet domain and leased virtual office space for a fake Cerner address ...more »

Wells Fargo Directors Face Wrath for Complicity In Bank Corruption
Common DreamsApril 25, 2017

Rachel Curley, democracy associate with the consumer advocacy group Public Citizen, said of the request: "One of the key arguments for reducing the size of Wells Fargo... is that the bank is too big to manage. The massive cross-selling fraud attests to ...more »

U.S. Rep. Williams: CHOICE Act will punish bad actors
MyStatesman.comApril 25, 2017

Susan Walsh President Donald Trump shakes hands with Treasury Secretary Steven Mnuchin at the Treasury Department in Washington, Friday, April 21, 2017.. where the president signed an executive order to review tax regulations set last year by his ...more »

Call it Denny Hastert's legacy: End the statute of limitations on sex abuse crimes
Chicago TribuneApril 25, 2017

Instead, he was convicted on charges relating to bank fraud. A federal investigation into suspicious bank transactions by the former Illinois legislator and ... But if there can be a worthwhile legacy from a case involving the sexual abuse of children ...more »

Guilty plea expected in ATM scam
The Guam Daily Post (press release) (registration)April 25, 2017

Ogo was charged with co-conspirators Amelia Tedtaotao, Ann Marie Pangilinan and Ruby Ngirmekur, and admitted to conspiring to commit bank fraud by writing worthless checks on a closed bank account to withdraw $70,000 from automated teller machines.more »

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