Russia’s Sberbank to be Cut Off from SWIFT Payment Platform

Fourth EstateRussian Sberbank branch in Prague, CZ (2017 file photo)

The European Union (EU) has announced plans of cutting off Russia’s largest bank, Sberbank, from the SWIFT international payment system. In a speech delivered on Wednesday, European Commission President Ursula von der Leyen said they will “de-SWIFT Sberbank” including two …

Read more

Deutsche Bank Raided Over Late Filing of Anti Money-Laundering Report

Fourth EstateDeutsche Bank Twin Towers as seen from South-East Frankfurt am Main

Investigators from Frankfurt’s public prosecutor’s office searched the offices of Germany’s largest lender Deutsche Bank on Friday, focusing on the bank’s anti-money laundering efforts. Officers from the BKA federal police, the financial watchdog BaFin and the prosecutor’s office in Frankfurt …

Read more

HSBC Allegedly Scrubbed References to Russian Invasion in Reports

Fourth EstateHSBC logo signage on high rise building

UK bank HSBC allegedly edited out portions of its’ analyst’s research publications that excluded references to a “war” in Ukraine.  According to a report by The Financial Times (FT) quoting two unidentified people, HSBC committees that review all externally published …

Read more

Philippine Central Bank Holds Policy Rate, But Warns 2022 Inflation to Breach Target

Fourth EstatePhilippine Central Bank portico entrance (file photo)

The Philippine central bank held its key interest rate on Thursday in a bid to continue supporting economic recovery from the COVID-19 pandemic, but not without flagging high inflation risks. The Bangko Sentral ng Pilipinas (BSP) kept its rate on …

Read more

Coinbase Blocks Russian Crypto Wallets

Coinbase announced it has blocked more than 25,000 addresses in Russia that were reportedly linked to illegal activities.  “Over the past few weeks, governments around the world have imposed a series of sanctions against individuals and territories in response to …

Read more

EU, US Regulators Warn Banks of Possible Russian Cyberattack

The European Central Bank has prepared banks for a possible Russian-sponsored cyber attack as tensions with Ukraine continue to rise. According to reports, the European Central Bank, led by former French minister Christine Lagarde and has oversight of Europe’s biggest …

Read more

Digital Bank Starling Boycotts Meta Over Scam Ads

A British fintech company, Starling Bank, has said it is boycotting Facebook and Instagram advertising platforms to protect its customers from scammers. Starling Bank Chief Executive Anne Boden said the boycott was for the lack of action of Meta, parent …

Read more