Interesting facts about the banks of the world
The more familiar word "bank" originated in Italy. The indigenous population gave usurers securities and money in the hope of their return. If the money changers went bankrupt, then they…

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Questions about offshore banking and offshore banking
Offshore banks and offshore banking raise many questions: what is offshore banking and how are offshore banks different from normal? What are the advantages of an offshore bank and what…

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similar consequences

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

Bill circulation in the bank
Bill circulation exists in the economic life of various countries for several centuries. During this time, considerable experience has been gained in the use of bills of exchange; there are…

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