The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing

The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing

02.12.2015 News

совершенствование законодательства  банках в СШАRecently, the Governor of the State of New York spoke with a proposal on the introduction of new banking rules that would have made the system more transparent; reduce the flow of illegal investments. Also, this way the authorities are hoping to protect the banking system from the terrorists.

This week Cuomo plans to discuss the rules that would have extended the responsibility of the New York banks and reduce the possibility of money laundering and the financing of terrorist groups.

In a recent interview Cuomo told that money is the fuel for terrorism and in a situation that is emerging in the world it is necessary to improve the banking system to stop the flow of illicit funds.

The new rules will involve a rigorous system of fines for banks that are not able to prevent illegal transactions. Violation of the rules may lead not only to the dismissal, but also to criminal liability.

The policy is aimed at preventing situations that happened before. As you know, the European financial giants such as Deutsche Bank and Standard Chartered have been accused of involvement to illegal transactions through its branches in New York. The biggest deal in the past year against BNP Paribas France’s biggest bank who pleaded guilty and paid a record fine $ 8.9 billion.

The US policy is to prevent money laundering is even stricter than the existing federal regulations, and it is gaining momentum in the last month, especially after the tragic events in Paris.

According to American politicians, stricter rules in the banking sector are essential, they will help prevent terrorism and reduce the flow of money laundering.

Source: www.nytimes.com

Other articles

  • Radisson Hotel Group strengthens its extended stay value proposition and ambitiously grows its serviced apartments portfolio across EMEA
    News

    Radisson Hotel Group strengthens its extended stay value proposition and ambitiously grows its serviced apartments portfolio across EMEA

    Radisson Hotel Group has plans to more than double its serviced apartments portfolio within the next 5 years across EMEA. Today, serviced apartments represent around 10% of the Group’s EMEA portfolio with 45 properties and more than 5,400 units in operation and under development. Radisson Hotel Group operates its serviced apartments as a stand-alone or […]

  • Uber stops developing a car without a driver
    News

    Uber stops developing a car without a driver

    On Monday, December 7, Uber and startup Aurora Technologies announced an agreement under which Aurora will take over Uber’s Advanced Technologies Group, which has been developing self-governing cars. Under the terms of the agreement, Uber will receive $ 400 million, 26% of Aurora shares, and the general director of the taxi service, Dara Khosrowshahi, will […]

  • Tesla will sell shares for $ 5 billion
    News

    Tesla will sell shares for $ 5 billion

    Electric car maker Tesla has agreed with brokerage companies to sell its shares for a total of $ 5 billion. This was reported by Bloomberg, citing documents submitted to the US Securities and Exchange Commission (SEC). The shares will be sold at the market price. This is the third sale of Tesla shares in 2020. […]

  • The first batch of Pfizer COVID vaccine has arrived in Israel
    News

    The first batch of Pfizer COVID vaccine has arrived in Israel

    The first batch of Pfizer coronavirus vaccine has been delivered to Israel. This was reported by The Jerusalem Post on Wednesday, December 9. “A DHL flight from Brussels carried more than 100,000 doses of the newly created vaccine and landed at Ben Gurion Airport in Tel Aviv around 9 a.m.,” the statement said. The doses […]

  • Exxon Mobil announces record depreciation of its gas assets by $ 20 billion
    News

    Exxon Mobil announces record depreciation of its gas assets by $ 20 billion

    The American oil and gas giant Exxon Mobil had one of the worst years in its history. Exxon shares have fallen by 45.36% since the beginning of 2020. The company has lost money for three quarters in a row, and in August they were excluded from the benchmark index of “blue chips” Dow Jones Industrial […]

  • Pfizer will deliver half of the planned number of vaccines in 2020
    News

    Pfizer will deliver half of the planned number of vaccines in 2020

    Shares of Pfizer and BioNTech fell 1.74% and 2% (respectively) on Thursday amid news that companies will deliver half of their planned number of vaccines against COVID-19 in 2020. On November 20, Pfizer and its German partner BioNTech applied to the FDA (US Food and Drug Administration) for permission to use their vaccine in an […]

  • JD.com will be the first platform to accept China’s cryptocurrency
    News

    JD.com will be the first platform to accept China’s cryptocurrency

    Chinese e-commerce company JD.com Inc announced on Saturday that it will be the first platform in the country to accept China’s digital currency. The Central Bank of China will hold its second digital yuan lottery among citizens of Suzhou, near Shanghai on Friday. The total amount of playable digital yuan is 20 million ($ 3.06 […]

Read also

The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

Pandora Media bought a bankrupt competitor Rdio for $ 75 million

December 23, 2015, the representatives of the largest streaming service in the USA Pandora Media reported that the company absorbed the music service Rdio, which become bankrupt, for $ 75 million. The deal was approved by the judge on the bankruptcy. There were no competing bids for the purchase of service. Pandora now becomes  the […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

Tesla’s value rose above $ 500 billion

Shares of US electric car manufacturer Tesla continue to rise sharply amid news of the company’s future accession to the S&P index. On Tuesday, November 24, the market value of Elon Musk’s company crossed the $ 500 billion mark for the first time. Tesla shares are said to have risen nearly 550 percent this year, […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

Ukrainian businessmen urged officials to raise the salaries of Ukrainians

Top managers of Ukrainian business are in no haste to predict the trends in the development of Ukrainian economy in 2017. Exactly about it reported the president of EEMEA Jacobs Douwe Egberts Taras Lukachuk on Thursday, January 26 on General meeting of European Business Association: Business climate in Ukraine, a global review (Ukraine’s Business Climate-Global […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

Yahoo refused to realize its business for $ 30 billion

Leaders of Yahoo have told  that they refused from the realizing  of the business to China’s Alibaba in the amount  of $ 30 billion. The Company  also thinks what they have to do with the Japanese peace of the business, which is estimated at     $ 8.5 billion. (In the Japanese company they owns […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

The Ministry of Justice won the lawsuit over the sale of Prominvestbank

The Kyiv Court of Appeal denied to Russia’s Vnesheconombank (VEB) in recognition of the decision of the arbitrator of the Arbitration Institute of the Stockholm Chamber of Commerce, which, at the request of VEB, the Ministry of Justice of Ukraine was obliged to stop the forced sale of 99.77% of Prominvestbank shares. The court agreed […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
Analytics

Walnut Garden – a Long-term Investment

Gardening is a purely European business by mentality as it means long-term investments and a completely transparent process. Walnut is a financial pearl of this industry. A walnut garden of only 1 hectare yields more than 1.2 million UAH per year. A walnut garden is an investment in the future and long-term well-being, as one […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

“Kernel” will pay $ 2.4 million penalty charge for contaminated sunflower oil

One of the largest Ukrainian agricultural groups “Kernel”, will pay $ 2.4 million, according to the results of court proceedings, in which it was involved in the case of contamination of the Ukrainian sunflower oil delivered in the EU in April 2008. According to the company report, disclosed on its website on Friday, the court’s […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

Kromberg&Schubert increases the investments in its plant in Zhitomir

The manufacturer of on-board cable systems is  ready to increase the number of workers from 900 to 5000 people. A foreign investor, a manufacturer of cable networks for automobiles – Kromberg and Schubert has invested in the production of automotive components plant in Zhitomir € 10 million, and it plans to double its investment and […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

USA company invests $ 100 million in the Yuzhnyi sea port

The American company Cargill invests $ 100 million in the construction of a grain terminal in the Ukrainian Yuzhnyi sea port (Odessa region). This was announced by the Prime Minister, Arseniy Yatsenyuk at the signing ceremony of the investment agreement, which took place on Wednesday in the Cabinet of Ministers. “It’s been 7 months, and […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

The European Bank for Reconstruction and Development will allocate $ 20 million for the modernization of plants to the largest sugar producer

The European Bank for Reconstruction and Development intends to provide the “Astarta” agro-holding a loan of $ 20 million. The money will be spent for modernization of sugar factories. This was said in the message of the bank. According to the report, the European Bank for Reconstruction and Development is considering the possibility to give […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

Boyden starts working in Ukraine

In Ukraine Boyden Global,one of the leaders in the market of personnel recruitment and provision of consulting services will begin work in the nearest future.Executive Search multi-national company. According to Aleksei Dolgikh,the head of the Ukrainian Boyden office: “the working group of specialists is already created and ready to work”. The former director of Pedersen&Partners […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

Odessa Port Plant to pass into the private ownership

On June 30, 2016 the State Property Fund of Ukraine (SPF) plans to launch tender for the privatization of the  99, 6% shares of one of the country’s largest manufacturers of chemical products – Odessa Port Plant. “Carrying out of competition for the sale of stock of shares with an open offer of cost on […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

The EU will allocate 1.6 million for improve the air legislation of Ukraine

National Aviation Service will implement a project – Twinning, which provides technical and financial assistance of the EU, with the aim to bring Ukrainian aviation standards to the European ones. This was told by Alexander Bilchuk, chairman of the State Aviation Service of Ukraine. “The signing of the working agreement between the State Aviation Service and […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

Philip Morris lost a case to the Australian Government

Large  tobacco company  Philip Morris couldn’t prove that the new Australian legislation, which involves standardized packs for all manufacturers of cigarettes, violates the intellectual property rights of the brand. The company  filed a lawsuit against the Government of Australia to the arbitration court in Singapore, that refused to consider the case on the grounds that […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
Analytics

2015 was the record year in terms of transactions in mergers and acquisitions

Every day there is a new information about the latest merger / acquisition among large enterprises. As a result of these major agreements, the price of which often amounts to billions of dollars, new company giants appeared in the world market. Moreover, agreements on mergers / acquisitions are active in all areas of business – […]

Next
The United States plans to improve the legislation in the banking sector, to stop the flow of illegal financing
News

The National Bank spent $ 71 million to support the hryvnia

On September 14-18, the National Bank sold $ 71 million in currency on the interbank foreign exchange market. At the same time, the National Bank did not buy foreign currency in its international reserves during the reporting week. Therefore, the National Bank for the first time in the late July sold the currency on the […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com