Tag: Bank’s

Major Banks Unknowingly Process Billions in Crypto Business, Says CipherTrace

Major Banks Unknowingly Process Billions in Crypto Business, Says CipherTrace According to CipherTrace, major U.S. banks unwittingly process billions of dollars from crypto-related business because they are ill-equipped to identify virtual asset service providers Cointelegraph.com News

Ciphertrace Says Banks Unknowingly Process $2 Billion in Crypto per Year

Ciphertrace Says Banks Unknowingly Process Billion in Crypto per Year According to the blockchain analysis firm Ciphertrace, major U.S. banks process roughly $ 2 billion in digital currency transactions that go undetected every year. Ciphertrace disclosed a slew of financial institutions have not deployed the right KYC/AML infrastructure to detect […]

German Banks Increasingly Charging Retail Clients Negative Interest Rates

German Banks Increasingly Charging Retail Clients Negative Interest Rates A growing number of banks in Germany are charging retail customers negative interest rates, starting with the very first euro deposited into their accounts. At least three German banks are reportedly doing so, with more expected to follow suit in the […]

European Banks Struggle With Low Interest Rates and Strict Regulations

European Banks Struggle With Low Interest Rates and Strict Regulations Banks in Europe have been in a difficult spot lately. A new report reveals that financial institutions across the region faced serious difficulties in the 2018 financial year, and despite all the cost cutting that followed, haven’t managed to compensate […]

Banks Are Cutting 75,700 Jobs Worldwide

Banks Are Cutting 75,700 Jobs Worldwide Banks worldwide have announced major job cuts this year. Globally, 75,700 jobs are reportedly being eliminated, with the most recent announcement coming from Italy’s largest bank. Unicredit has become the latest major bank to unveil layoff plans, joining Deutsche Bank, Santander, Commerzbank, HSBC, and […]

Regulatory Roundup: Germany to Let Banks Sell and Store Crypto, Laws Changing in Asia

Regulatory Roundup: Germany to Let Banks Sell and Store Crypto, Laws Changing in Asia Some major regulatory developments in the crypto space have transpired this week. Not only has Germany passed a bill allowing banks to sell and store cryptocurrencies, but South Korea and Thailand are also amending their laws […]

German Banks Authorized to Store and Sell Cryptocurrency in 2020

German Banks Authorized to Store and Sell Cryptocurrency in 2020 Next year German banks will be able to manage cryptocurrencies like bitcoin after the fourth EU money laundering directive goes into effect. The directive passed in the German parliament, Bundestag, allows banks in the country to act as cryptocurrency custodians […]

Survey: 58% of German Banks Charge Negative Interest Rates

Survey: 58% of German Banks Charge Negative Interest Rates Germany’s central bank, the Deutsche Bundesbank, has conducted a survey of banks charging negative interest rates on customer deposits. Some are charging retail customers as well as corporate clients. An independent price comparison portal shows which banks are currently charging for […]