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Martin Wheatley: Elements of UK banking culture “rotten to the core”

September 7th, 2012 The managing director of the Financial Services Authority, Martin Wheatley, has launched a stinging attack on ‘mis-selling’ of financial products by banks, building societies and other financial institutions to their retail customers, even describing the incentive schemes that underpinned the ‘misselling’ of payment protection insurance (PPI) as “rotten to the core”. In […]

September 6th, 2012 | Posted in Blog | Read More »

Britain ignores this epidemic of financial crime at its peril

August 1st, 2012 (minor revisions September 4th 2012) by Rowan Bosworth-Davies The most prestigious names in the British banking and finance routinely engage in criminal activities on a scale that would make any Mafia family proud. Whether it’s by facilitating international money-laundering; manipulating markets through Libor rigging; institutionalised insider dealing; misappropriating money from clients’ pension savings […]

August 1st, 2012 | Posted in Blog | Read More »

RBS accused of withdrawing job offer to Mexico drug deals whistleblower

By Ian Fraser Published: Sunday Herald Date: July 22nd, 2012 The Royal Bank of Scotland has reneged a job offer to a leading anti-money-laundering expert who it appointed to help improve anti-money-laundering systems and controls on discovering he had blown the whistle on drugs money-laundering by a former employer. In an employment tribunal to be […]

July 22nd, 2012 | Posted in Article Library | Read More »

Loss of trust

By Ian Fraser Published: Signet Magazine Date: July 16th, 2012 (minor edits March 28th, 2013) Scottish banking was once renowned for prudential management. Today the association is rather different. Financial journalist Ian Fraser gives his view of events behind the collapse of RBS and HBOS and calls for a Leveson-style inquiry. PDF version of this […]

July 16th, 2012 | Posted in Article Library | Read More »

The Royal Bank of Scotland’s world of pain

By Ian Fraser Published: July 15th, 2012 Published: Sunday Herald In his glory days Fred Goodwin aspired to make Royal Bank of Scotland a global bank on which the sun never set. Corporate videos extolling the group’s global reach were routinely played at investor meetings. His legacy is a world of trouble, with the bank […]

July 15th, 2012 | Posted in Article Library | Read More »

How London became the money-laundering capital of the world

July 15th, 2012 By Rowan Bosworth-Davies Speaking on the Marr Show on BBC One on March 23rd, the former Daily Telegraph editor and historian Max Hastings said a “senior central banker” recently told him that London is now considered to be the “money-laundering capital of the world”. Hastings was discussing the shooting of a Russian […]

July 15th, 2012 | Posted in Blog | Read More »

Talking Li(e)borgate on the Keiser Report

July 13th, 2012 On Tuesday, I was interviewed by Max Keiser of the Keiser Report about the UK’s lack of appetite for prosecuting  ‘white collar’ crime. Max also asked me about the Libor rigging scandal, swaps misselling by UK banks, and much else besides. The progeamme was broadcast on Wednesday night and made available via […]

July 13th, 2012 | Posted in Blog | Read More »

Sir Marcus Agius — not very Herculean

July 4th, 2012 Marcus Agius, the in-and-out chairman of Barclays, fails to convince in this interview with Faisal Islam. When asked if Diamond had resigned because he was told to by the governor of the Bank of England, Mervyn King, and the chairman of the FSA Lord Turner, Agius fails to answer, but just parrots the line: […]

July 4th, 2012 | Posted in Blog | Read More »

The global scam that may prove terminal for Barclays, Lloyds and RBS

By Ian Fraser Published: Sunday Herald Date: July 1st, 2012 Bankers on the fiddle: executives face extradition to US. Exclusive by Ian Fraser (This is the full, unedited version of an article that was the “splash” in the Sunday Herald on July 1st, 2012)  Image: Banzai7 Executives and former executives of the Royal Bank of […]

July 1st, 2012 | Posted in Article Library | Read More »

Ex-RBS chief Fred Goodwin will tell court: I did nothing wrong

By Ian Fraser Published: The Herald Date: June 26, 2012 Disgraced former Royal Bank of Scotland chief Fred Goodwin will tell a court that he did not dupe the bank’s shareholders when he asked them for £12 billion just months before its near-collapse, writes IAN FRASER. Mr Goodwin and other former directors are facing a £3bn […]

June 26th, 2012 | Posted in Article Library | Read More »