Modern ways of promoting banking services on the Internet
Modern market relations dictate their business conditions. As Bill Gates said in his book Business at the Speed ​​of Thought: “In the future, two types of companies will remain on…

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The best client of a law firm is a regular partner.
Since each of the cases handled by law firms has a number of its own specific nuances, there is no unambiguous list of criteria that should guide the selection of…

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Interesting facts about the banking system
The Bank is an organization providing financial services to the public. This is its main purpose. Today, the number of branches is more than enough in any large city, and…

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Sweden and the Netherlands demand to disclose the clients of the Swiss UBS
It recently emerged that Sweden and the Netherlands filed administrative requests with the Swiss authorities asking them to state the names of their citizens who own accounts at UBS in…

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banking systems

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

Good reason to open a foreign bank account

The litigation that is currently unfolding between the Federal Tax Service and Sberbank may be a significant precedent that will affect the entire banking sector in Russia. The FTS accuses Sberbank of dishonest behavior, which is expressed in the fact that the bank refused to perform the functions of the tax authorities and write off funds in paying taxes from the client’s account.
The decision of the court is now closely watched by many account holders in Russian banks. If the court takes the side of the FTS, it may mean that in the near future the requirement to write off taxes from the accounts will be mandatory for all banks. This means that accounts in Russian banks will become an even less secure and confidential way of storing funds. Continue reading

Foreign banks in Argentina will be able to work without a license

The Argentine government is developing a new bill that will amend the Capital Markets Law. The main purpose of the new law is to attract foreign investment in the country. Among other proposals, in particular, it is planned to allow representatives of foreign banks and other financial institutions to provide private banking services without a license issued by the Central Bank of Argentina. Continue reading

Good reason to open a foreign bank account
The litigation that is currently unfolding between the Federal Tax Service and Sberbank may be a significant precedent that will affect the entire banking sector in Russia. The FTS accuses…

Continue reading →