Swiss banks are facing concerns over their vulnerability to criticism and potential legal action due to their dealings with Russian clients. The US Department of Justice (DoJ) is currently investigating whether UBS and Credit Suisse assisted Russian oligarchs in evading sanctions, as Switzerland has been accused of being a preferred haven for Russian funds. These […]
Lugano has emerged as one of Switzerland’s most important crypto and blockchain hubs. Two Swiss financial institutions have now formed a strategic partnership there. Recently, Lugano, the largest city in the canton of Ticino, expanded its payment options and now accepts cryptocurrencies Bitcoin and Tether for the payment of tax bills and all other municipal […]
Deutschland’s largest credit institution has discovered thousands of forgotten and unresolved complaints at its subsidiary, Postbank. This backlog of customer complaints has emerged months after the German bank promised to quickly resolve the extensive disruptions caused by a botched IT migration project. The incident raises new questions about the bank’s internal communication and workflow systems, […]
Julius Bär, a Swiss private bank, has experienced a downgrade in its rating due to hundreds of millions of loans to Benko. This downgrade directly impacts the bank’s profitability as it will have to pay more for borrowing money.The question of who is to blame for this situation has gained momentum. Bloomberg has pointed out […]
A Zurich court has handed down a significant verdict in one of the city’s largest financial fraud cases. Financier Bismark Badilla has been sentenced to six years in prison for “systematic fraud” and multiple counts of forgery. The case involves around 70 victims, including prominent law firms and a former top compliance officer from Credit […]
The Swiss private bank Julius Bär is under investigation by the Swiss Financial Market Supervisory Authority (FINMA) for inadequate risk control structures that contributed to the bank’s involvement with bankrupt real estate mogul René Benko. The investigation was triggered by concerns that the business and control functions at Julius Bär were not sufficiently separated. The […]
Coinbase, the US-based cryptocurrency exchange, has received regulatory approval from the French regulator Autorité des Marchés Financiers (AMF) to offer its crypto exchange services and products in France. This approval, known as the Virtual Assets Service Provider (VASP) registration, allows Coinbase to provide digital asset custody and trading services to both retail and institutional customers […]
A Swiss banker has pleaded guilty in the United States to hiding over $60 million in secret accounts from tax authorities through opaque channels.The Swiss banker admitted to conspiring to defraud the United States by participating in a system that helped wealthy US taxpayers hide their income and assets in offshore accounts.According to court documents, […]
Coinbase, one of the largest cryptocurrency exchanges, has obtained virtual asset service provider (VASP) status in France, allowing it to expand its operations in Europe. The company has registered with France’s Autorité des marchés financiers (AMF) and can now offer retail and institutional services, including crypto custody, crypto-to-crypto trading, and buying and selling crypto for […]
The concept of using the Internet as a marketplace faced initial challenges in implementation. As the Internet became more accessible, the demand for secure online transactions grew. However, convincing users about the importance of privacy and anonymity online proved to be difficult, which limited the adoption of ecash. Despite this, ecash aimed to solve the […]
