Tag Archives | Barclays

The real reason banks aren’t stopping dirty money

3 December 2015 in Financial Integrity, Impunity, Private sector

Last week, Barclays bank was fined £72 million (US$110 million) by the UK authorities for failing to use anti-money laundering checks on a prominent customer, the bank’s seventh financial penalty in the last six years. This time Barclays did not carry out the proper background checks on unidentified senior foreign political figures or their family […]

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A Treatise of Banking Nature

30 April 2013 in Accountability, Private sector

When the publication of his Treatise of Human Nature met with almost universal indifference, Scottish philosopher David Hume remarked glumly that it “fell still-born from the press”. Anthony Salz – Rothschild banker and City of London grandee – will understand those sentiments after the rather muted reaction to his own tome on human nature, a […]

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Can we restore integrity to the financial sector?

29 November 2012 in Accountability, Financial Markets, Private sector

Integrity, trust and culture can seem like the most intangible and abstract of concepts in a hard-edged business environment – until they disappear. As the finance industry has discovered in recent years, failing to tend to a culture of integrity can cost you dearly. There are the record fines of course – such as those […]

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G20 must address financial integrity as corruption surges through major banking

31 July 2012 in Financial Markets, G20, Private sector

Allegations of insider trading at Nomura, money laundering at HSBC, interest rate manipulation at Barclays – it’s one scandal after another! Some say mega-banks are too complex to manage and control, others blame bad management, still others say the culture is rotten. Corruption abounds. Greed, secrecy, arrogance, lack of a moral compass, and opportunity all […]

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Where do Multinational Corporations go on their holidays?

25 July 2012 in Accountability, European Union, Private sector

…and how much money do they spend when they get there? Despite their global reach, Transparency International’s recent Transparency in Corporate Reporting report – which assesses 105 multinational companies’ anti-corruption reporting –  shows that these companies reveal very little information about their financial and non-financial contribution to the countries in which they operate. The European […]

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