Corruption allegations
BoE introduces new counterfeit initiative for ‘front line of defence’
New checking scheme will employ “targeted training” for cash handlers while retailers will help central bank gather data on current practices
PNG’s Bakani defends board’s overseas travel expenses
Governor crosses swords with predecessor, who claims decision to hold board meeting overseas makes Bakani unfit to lead the central bank
Malaysian opposition: bank must act against 1MDB officials
Bank Negara Malaysia says it will continue to work with international agencies over alleged fraud
Sarb concerned with KPMG audits in South Africa
Auditor reshuffles local leadership and carries out investigation, but may lose major clients
Ugandan stress tests reveal banking sector vulnerabilities
Banking sector could face a loss of $140 million if three largest banks default; governor says it has been a “difficult year” for banks
Sarb returns to court amid secret meeting claims
New court documents allege South Africa’s public protector might have had “ulterior purpose”; secret meeting with presidency revealed
Former Trinidad and Tobago governor denies police probe rumour
Rambarran denies claims he is being investigated over his time as chairman of the country's Deposit Insurance Corporation
Tromp ejected from central bank by board
Curaçao and Sint Maarten governor returns to work only to be denied access; Emsley Tromp continues to be involved in legal proceedings
RBI data casts doubt on value of demonetisation
Scheme receives fresh criticism after revelation that 99% of all notes have been returned; RBI emphasises long-term benefits
Indian central bank introduces 200 rupee banknote denomination
New denomination should “facilitate exchange” for smaller transactions, RBI says
Fed announces Libor alternative
Secured Overnight Financing Rate will measure overnight treasury financing transactions
Book notes: The Spider Network, by David Enrich
A thrilling exploration of how currency trader Tom Hayes and confederates managed to corrupt the UK banking system in what has become one of the largest financial scandals in history
BoE to appoint ‘conflicts officer’ following review
Compliance review revealed there was a lack of understanding around reporting conflicts of interest; under new framework senior officials will have to report annually
Belize central bank toughens AML/CFT controls with Swift solution
Software scans payment messages in real time, alerting central bank of suspicious transactions; upgrade is latest in a series of initiatives deployed in improving AML/CFT compliance
Central Bank of Paraguay re-enters markets with World Bank support
World Bank to provide assistance on efficient portfolio management following re-entry into international markets
FCA threatens further action against firms “misleading” customers
UK regulator says some banks are still incorrectly using currency transfer services, despite warnings last year; customers are “not fully aware” of being misled until registration has taken place
People: Malta finds replacement for Mifsud; DNB appoints new board member
People: Malta appoints new deputy governor; Netherlands picks Else Bos as new board member for prudential supervision; and more
Uganda central bank sues Crane Bank director for over $100m
Bank of Uganda investigation finds troubled Crane Bank owned wholly by one person; third party to file action against the central bank for negligence in handling Crane saga
Fed would remove Wells Fargo board if ‘appropriate’, says Yellen
Fed chair asked why stricter penalties had not been imposed after bank opened millions of fake accounts; senator Warren says current system has created “bullet proof” executives
Bank of Russia takes over major commercial bank
Deputy governor says there is evidence of “misleading” reporting from Bank Jugra; depositors will be able to access their money from July 24
New York Fed legal vice-president challenges ‘check the box’ mentality
If a compliance regime does not accept blame or responsibility, then it has failed says Held; regimes should not be afraid to uncover problematic behaviour
Bank Negara Malaysia official offers tough line on corruption
Malaysia’s central bank has a “zero tolerance policy” and will not protect those who choose to cross a line, assistant governor says; institution has “refreshed” ethical framework
Somalian central bank to print first notes since 1991
New 1,000 shilling looks set to enter circulation in 2017 with extensive assistance being provided by the IMF; central bank has struggled to operate amid civil war
Venezuela’s Maduro backtracks on bolivar withdrawal
Venezuelan currency crisis continues with delay of new series and re-integration of 100 bolivar note, as president blames “international sabotage”