An account in an English bank is prestigious and profitable!
England is one of those countries where everything is based on standards. This is not an offshore paradise, but with skillful use of the laws, you can reduce the significant…

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Internet banking: How to secure online payments
Cyber ​​criminals are not asleep, especially on the eve of the pre-Christmas rush. According to experts from Kaspersky Lab, the finances of Internet users are being attacked by a new…

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The banking crisis in Europe: Deutsche Bank is just the tip of the iceberg
The banking crisis in Europe is gaining momentum. And although the facts of this destructive process are hidden, more and more moments become visible to others. This was particularly vividly…

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Currency operations of commercial banks and their role in economic development
In the conditions of transition of the economy to market relations and the development of the banking system, the development and improvement of currency operations of commercial banks is of…

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Know your customer: this is why banks WILL ask you awkward questions

Banks are fined hundreds of millions of dollars for insufficient customer verification. This is exactly what happened with the largest bank in Pakistan, which received a $ 225 million fine and is now forced to close a branch in New York.
In early September, Habib Bank, which is the largest in Pakistan, was sentenced in New York. According to the Department of Financial Services, the bank did not conduct sufficient customer audits that are required by New York law. The bank was fined $ 225 million for not combating money laundering and financing terrorism, for ignorance in an adequate form of reporting, and they demanded to close the branch in the city. Continue reading