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Goldman Sachs Group (GS) has filed a complaint in a New York state court against Google after a GS contractor accidentally emailed "highly confidential brokerage account information" to a stranger's account with Google's webmail service Gmail. Reportedly, the contractor sent a report to a "gmail.com" account when it was intended for a "gs.com" account.

Published in Information Security

The United States Financial Regulatory Authority (FINRA) has announced that it has accepted (30 June 2014) Goldman Sachs Execution & Clearing's (GS) consent to the entry of findings by FINRA.

Published in Financial Integrity

The United States Department of Justice (DoJ) and the US Attorney's Office for the Southern District of New York (SDNY) have jointly announced that France-based bank BNP Paribas has agreed to plead guilty to conspiring to breach US economic sanctions laws by processing billions of US dollars' worth of transactions through the US financial system on behalf of sanctioned Sudanese, Iranian, and Cuban entities.

Published in Anti-Money Laundering

Mark Jackson, the former chief executive officer (CEO) of oil and gas services company Noble, and a Noble subsidiary director James Ruehlen have agreed to settle claims that they took part in a bribery scheme aimed at obtaining import permits for oil rigs in Nigeria.

Settlement Reached in E-book Antitrust Case

26 Jun 2014
Written by World Watch

Apple Inc has agreed to settle a class action brought by United States regulators and other complainants in relation to alleged e-book pricefixing by Apple and five publishers.

Published in Competition

Europol has announced that "[more than] 70 law enforcement officials from 21 countries" convened at its headquarters during 16 - 17 June 2014 to "coordinate investigations into the criminal exploitation of virtual currencies, including Bitcoin".

Published in Anti-Money Laundering

The Adidas Group (Adidas) has announced a strategic partnership with textile chemical assessment tool provider Bluesign Technologies aimed at improving the environmental sustainability of Adidas's textile manufacturing.

The United States Department of Justice (DoJ) has announced that former Rabobank derivatives trader Takayuki Yagami has pleaded guilty for "his role in a conspiracy to commit wire and bank fraud by manipulating Rabobank's Yen London InterBank Offered Rate (LIBOR) submissions to benefit his trading positions".

Published in Financial Integrity

Google has made available an online form for users to request that Google remove search results for queries that include their name where those results are "inadequate, irrelevant or no longer relevant, or excessive in relation to the purposes for which they were processed". The form implements a recent ruling (13 May 2014) by the Court of Justice of the European Union, which found that certain users can ask search engines to remove search results for the above reasons.

77,000 Take Up FATCA Reporting

05 Jun 2014
Written by World Watch

The United States Internal Revenue Service (IRS) has launched FATCA Foreign Financial Institution (FFI) List Search and Download Tool, a website which hosts a searchable list of financial institutions registered, accepted and assigned a Global Intermediary Identification Number in accordance with Foreign Account Tax Compliance Act (FATCA) regulations.   

The Associated Press (AP) reports that 77,000 banks worldwide have agreed to share data with the United States Internal Revenue Service to assist it in offshore tax evasion investigations. The agreements will reportedly assist the IRS to enforce the Foreign Account Tax Compliance Act. Deloitte Tax LLP representative Denise Hintzke reportedly stated that the strong uptake indicated that financial institutions "are taking [FATCA] pretty seriously and intend to comply".

AP: 77,000 foreign banks to share tax info with IRS (2 June 2014)
(Source: IRS; AP)

Published in Financial Integrity

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