banking system

$1,800,000,000-funneled-through-fraudulent-bank-accounts-in-massive-money-laundering-operation:-report
Posted by | February 23, 2024
$1,800,000,000 Funneled Through Fraudulent Bank Accounts in Massive Money Laundering Operation: Report

Authorities in Hong Kong say they’ve cracked a massive, global money laundering operation that used the traditional banking system to wash approximately $1.8 billion. Seven people are now under arrest,...

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Posted by | February 1, 2024
Bitcoin Steady at $43K as Tumbling U.S. Regional Bank Stocks Reignite Worries

Bitcoin (BTC) remained steady at around $43,000 Thursday as tumbling U.S. regional bank stocks reignited fears about the health of U.S. lenders and a rerun of last March's banking crisis....

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Posted by | December 2, 2023
$684,000,000,000 in Unrealized Losses Hammer US Banks As Fed Reveals Surge in Underwater Assets

US banks are now saddled with a staggering $684 billion in losses on securities, according to a new report from the Federal Deposit Insurance Corporation (FDIC). The agency says the...

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hackers-hit-world’s-largest-bank,-forcing-financial-giant-to-rely-on-usb-stick-to-settle-trades:-report
Posted by | November 11, 2023
Hackers Hit World’s Largest Bank, Forcing Financial Giant to Rely on USB Stick to Settle Trades: Report

Engineers are investigating how hackers managed to crack the New York arm of the Industrial & Commercial Bank of China (ICBC) – a financial institution with $5.74 trillion in total...

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fifth-bank-failure-of-2023-declared,-iowa-bank-insolvent-due-to-‘significant-loan-losses’
Posted by | November 4, 2023
Fifth Bank Failure of 2023 Declared, Iowa Bank Insolvent Due to ‘Significant Loan Losses’

The Federal Deposit Insurance Corporation (FDIC) has shut down a bank in Iowa after regulators discovered “significant loan losses” on its balance sheet. The FDIC is adding Citizens Bank in...

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billion-dollar-bank-pays-$29,500,000-fine-over-‘massive-fraud’,-allowing-criminals-to-access-$300,000,000
Posted by | October 28, 2023
Billion-Dollar Bank Pays $29,500,000 Fine Over ‘Massive Fraud’, Allowing Criminals to Access $300,000,000

The Federal Reserve and New York Department of Financial Services are hitting a US bank with a multi-million dollar fine for violating the Bank Secrecy Act. The agencies say Metropolitan...

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Posted by | October 22, 2023
Bank Profits Surge by $280,000,000,000 Globally Due to Sharp Increase in Interest Rates: McKinsey

Banks are collectively posting their most substantial profits in a decade, according to a new assessment from the consulting giant McKinsey. McKinsey says the rise in interest rates has paved...

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Posted by | October 20, 2023
Mysterious Withdrawals Hit Customers at Major US Bank, Plunging Some Accounts Into the Negative: Report

Customers at one of America’s biggest banks are reportedly seeing erroneous withdrawals hit their accounts. Concerns over unexplained withdrawals at Wells Fargo tagged as “debit card pending correction” began circulating...

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$270,000-disappears-from-business-owner’s-bank-account,-billion-dollar-bank-refuses-to-make-customer-whole:-report
Posted by | October 7, 2023
$270,000 Disappears From Business Owner’s Bank Account, Billion-Dollar Bank Refuses To Make Customer Whole: Report

A business owner in Southwest Florida is searching for answers after hundreds of thousands of dollars vanished from her bank account. Tiffany Allen says $270,000 was initially stolen from her...

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bank-abruptly-freezes-$48,000-in-customer’s-account,-denying-access-to-funds-and-refusing-to-verify-identity:-report
Posted by | October 6, 2023
Bank Abruptly Freezes $48,000 in Customer’s Account, Denying Access to Funds and Refusing to Verify Identity: Report

A Tennessean woman says her bank has abruptly frozen tens of thousands of dollars in her account – even after she took additional steps to prove her identity and verify...

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