A senior official of state-run Punjab National Bank (PNB) in India was arrested by federal police as part of an investigation into a $1.8 billion scam at the bank. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
As Venezuela struggles with hyperinflation and its currency reaches record lows, the country has reportedly sold $735 million of its “petro” cryptocurrency during day one of its presale. Yet Venezeula’s President, Nicolas Maduro, did not present evidence backing up that figure — or offer details...
The Latvian Defense Ministry is contending that corruption allegations — which resulted in the suspension of a central bank governor on Tuesday (Feb. 20) — could be part of a smear campaign to sow distrust and influence the October elections. Get the Full Story Complete...
Latvia’s banking system is facing more issues. Not only did one bank have to request emergency support after U.S. officials accused it of helping to breach North Korean sanctions, but the chief of the country’s central bank has also been hit with bribery allegations. Get...
Latvia’s top banking official and key European Central Bank member Ilmārs Rimšēvičs is currently facing accusations of bribery and money laundering. Latvian Prime Minister Māris Kučinskis confirmed that Rimšēvičs has been detained, but has offered no official details on the case. Get the Full Story Complete...
Indian banks could be on the hook for more than $3 billion thanks to a massive fraud scheme revealed by Punjab National Bank last week. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
Investors worldwide got quite a scare from India’s Punjab National Bank (PNB) with the announced discovery of $1.8 billion in fraudulent activity at one of its branches, according to Reuters reports. The bank said in a statement that “a few select account holders” appear to have...
The Winter Olympics are in full swing in Pyeongchang, South Korea. Opening ceremonies took place Friday night, local time (early Friday morning for the U.S.) as athletes and spectators from 92 nations came together to kick off the two-and-a-half-week Games. Events will continue through Feb....
Two proposed bills that would keep China from obtaining sophisticated U.S. technology might be revised after complaints from major American companies. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
