TD Bank's $3 Billion Fine Reveals the Shortcomings of the Banking ...
Nov 20, 2024 · 999. By Nicholas Larsen, International Banker. O n October 10, the United States Department of Justice (DOJ) announced that TD Bank had agreed to a $3-billion settlement with the US government over charges that it repeatedly failed to detect money-laundering activities within its institution. With the US unit of the Canadian lender unable to prevent a range of …
The WorldCom Scandal (2002) - International Banker
Sep 29, 2021 · 28.6K . C oming hot on the heels of accounting scandals involving Enron and Tyco, both of which sent financial markets into tailspins, the fraud committed by WorldCom, one of the world’s biggest telecommunications companies, ended up dwarfing even those infamous crimes in terms of sheer numbers.. By June 2002, the United States’ second-largest long …
The Enron Scandal (2001) - International Banker
Sep 29, 2021 · A ugust 2021 marked the 20 th anniversary of arguably the most notorious corporate-accounting scandal of all time. It may not have been the biggest in dollar terms, or even the most severe in terms of criminality and personnel held culpable, but the Enron Corp. scandal of 2001 remains perhaps the most impactful of all time.
How AI Is Dramatically Transforming the Wealth-Management …
Oct 7, 2024 · The new kid on the AI block, generative AI, is already making significant inroads into financial services, with the world’s biggest banks beginning to roll out their own GenAI tools to ameliorate wealth-management functions, such as research analysis and operational tasks. However, the future is wide open for AI’s role in wealth management.
Key Takeaways From the 16th Annual BRICS Summit in Kazan, Russia
Nov 13, 2024 · 278. By Nicholas Larsen, International Banker “ Strengthening Multilateralism for Just Global Development and Security” was the central theme promoted at the 16 th BRICS Summit held in Kazan, Russia, from October 22 to 24, with the Kazan Declaration—the document adopted at the summit by all BRICS+ members (Brazil, Russia, India, China, South Africa plus …
Iraq Continues to Play a Delicate Geopolitical and Economic …
Nov 19, 2024 · 525. By Nicholas Larsen, International Banker. A ccording to an economic assessment issued in July by the Fitch Solutions company BMI, Iraq’s real gross domestic product (GDP) for the full year 2024 will reach 1.8 percent, which is higher than the firm’s previous forecast of 1.6 percent and a major turnaround from last year’s 2.3-percent contraction.
The Generative AI Revolution in Banking: Transforming Research, …
Oct 8, 2024 · GenAI’s potential for metamorphosing operations has captured the attention of banks worldwide. While still new, the technology is already upgrading processes in three key areas: research, risk assessment and compliance. As banks increasingly embrace GenAI’s advantages, they must plan carefully and ensure necessary governance is in place.
Why Soybean Prices Have Continued to Fall Throughout 2024
Jul 18, 2024 · 1.1K. By Hilary Schmidt, International Banker. I n mid-July, the price of soybean futures contracts dipped below $11 per bushel for the first time since November 2020, as the U.S. Department of Agriculture (USDA) and other major analysts reported more favourable than expected supply conditions for the global market, as well as weak export demand. With the …
The Customer Experience: An Inescapable Priority for Global …
Mar 11, 2024 · 578. By Samantha Barnes, International Banker. A s the world continues its migration further into the digital realm to fulfil its banking needs, lenders in 2024 are only too willing to expand their digital-banking capacities to meet this increasing—and increasingly sophisticated—global demand. Indeed, customer preferences are evolving rapidly, with …
Mashreq Bank: Disrupting the Status Quo Through Innovation
Dec 7, 2023 · 1.2K. By John Manning, International Banker. I n January, the chairman of Mashreq Bank, Mr. Abdul Aziz Al Ghurair, described 2022 as a “transformative year” for the lender. As one of the United Arab Emirates’ (UAE’s) leading banking institutions for much of the 56 years since its founding, as well as one of the oldest banks in the Middle East and North Africa (MENA), …