Scotland’s biggest bank is getting around to making amends for an IT crash in 2012 that left millions of its customers without access to their accounts for weeks. It will dish out $88 million (£56 million) to pay for its mistake.
Angela Merkel has criticized Vladimir Putin’s, apparent, strategy to spread Russia’s sphere of influence in Eastern Europe. The Chancellor doesn't acknowledge that Germany’s domination of Europe has been disastrous for some states.
Ukraine’s Central Bank chief has divulged some shocking intel: its gold stockpile has reached a new nadir - almost zero. Since the beginning of the year, gold reserves have dropped nearly 16-fold, which begs the question, where did all of it go?
The Central Bank of Russia intends to stop banks from operating in-house foreign exchange (Forex) markets or offering the service to Russian customers, according to the First Deputy Governor Sergey Shvetsov.
Sigurjon Arnason, the ex- CEO of Landsbanki, one of the three Icelandic banks that crashed and ruined the economy in 2008, has been sentenced to 12 month in prison for manipulating the bank’s share price and deceiving investors in the bank’s dying days.
Society expects bank employees to be honest when entrusting them with money. However, new research involving bankers suggests they are more likely than other professionals to be dishonest if they are reminded about their professional role.
Sberbank, Russia’s largest lender, will be the first bank in the country to start issuing credit guarantees denominated in Chinese yuan. The new yuan-based letters of credit ensure payments between buyers and sellers, with the bank acting as a router.
The Royal Bank of Scotland (RBS) will no longer ask for your mother’s maiden name as a security question, in order to include LGBT people. The bank may also offer account holders the option of using ‘Mx’ instead of the gender normative ‘Mr’ or ‘Mrs’.