A previously undetected group of Russian-language hackers silently stole nearly $10 million from at least 18 mostly U.S. and Russian banks in recent years by targeting interbank transfer systems, a Moscow-based security firm said on Monday.

Second Largest Bank in US, Bank of America, Secures Patent for Cryptocurrency Exchange System Bank of America’s Patent for Cryptocurrency Exchange System Application Gets Accepted. Bank of America‘s patent application for its proposed cryptocurrency exchange system has been accepted by the US Patent and Trademark Office (USPTO). The system will enable automatic conversion of one cryptocurrency into another, and the exchange rates will be calculated based on external data feeds.

Two senior executives at French-Swiss cement maker LafargeHolcim, including its former CEO, were charged on Friday over claims that top management turned a blind eye to payments to jihadists in Syria, a judicial source said. Lafarge is accused of paying the Islamic State group and other militants through a middleman between 2013 and 2014 so that the company's factory in Jalabiya, northern Syria, could continue to operate despite the war.

The digital currency has shot above the $14,000 mark for the first time -- the third big barrier it's broken in less than 24 hours. Bitcoin has enjoyed a stunning rise this year, drawing increasing attention from mainstream investors. After starting the year below $1,000, it hit the major milestone of $10,000 just last week. Despite a flurry of warnings from top economists and business leaders, its upward trajectory has continued -- albeit with a few sharp dips along the way.

Wells Fargo bankers overcharged hundreds of corporate clients in order to meet their sales goals, the Wall Street Journal reports. Those bankers, most of whom performed international transactions for corporations, allegedly inflated clients' fees, tacking on millions of dollars in extra charges. The bankers were allegedly driven by Wells Fargo's employee rewards system, which gave sizable bonuses to bankers who exceeded their sales goals.

Gordon Brown has claimed bankers should have been jailed for their fraudulent and dishonest behaviour during the financial crisis that led to Britain’s deepest post-war recession and his defeat in the 2010 general election. The Labour former prime minister used the second extract from his memoirs to warn that the failure to take a tougher line with wrongdoing – as pursued by other countries – has made it inevitable that rogue bankers will again gamble with public money.

Wells Fargo & Co layoffs are leaving hundreds of Americans out of work as the leading American bank moves jobs to the Philippines. In a Senate hearing on the fake accounts scandal last week, Wells Fargo CEO Tim Sloan confessed that the bank has been cutting U.S. call center jobs while adding to its workforce in the Asian country.

A former HSBC banker has been found guilty by a US jury of defrauding a UK-headquartered energy firm in a $3.5bn currency trade. Mark Johnson, who was HSBC's head of global cash foreign exchange trading, was found guilty on nine counts, in a court room in Brooklyn, New York. Johnson,51, was accused of exploiting confidential information from Cairn Energy in 2011 to "front run" the oil and gas firm in the currency markets, thus making an $8m profit for the bank at the expense of its client.

When you handle trillions of dollars a year in transactions and manage the largest known vault of gold in the world, security and efficiency are top priorities. Open source reusable software components are key to the New York Fed's successful operation.

Wells Fargo is in trouble once again -- this time for fees charged to customers trying to nail down a mortgage. The scandal-ridden bank said on Wednesday that some mortgage borrowers were inappropriately charged for missing a deadline to lock in promised interest rates, even though the delays were Wells Fargo's fault.

Will they? Won’t they? I’m not talking about Donald’s playground bluster about nuking North Korea back to the 1950s. Shocking and intemperate. Yes. But, plays to his audience. Of more import are Central banks and how they wriggle out of their current chains. Will the Fed put another nail into QE this afternoon? We think they will announce the end of coupon reinvestment: de-facto normalisation/tightening. Get on with it! US markets are resilient enough to cope – but we really need to see serious spread decompression between the fixed income asset classes.

US banking regulators ordered Pakistan's Habib Bank to shutter its New York office after nearly 40 years, for repeatedly failing to heed concerns over possible terrorist financing and money laundering, officials said Thursday. Habib, Pakistan's largest private bank, neglected to watch for compliance problems and red flags on transactions that potentially could have promoted terrorism, money laundering or other illicit ends, New York banking officials said.

Commonwealth Bank of Australia (CBA.AX) was hit on Tuesday with potentially Australia’s biggest class-action lawsuit over a money-laundering scandal that has already smashed its share price and exposed it to billions of dollars in fines. Litigation financier IMF Bentham Ltd (IMF.AX) said it would fund the lawsuit against Australia’s biggest bank, accusing it of making false and misleading statements and failing to disclose breaches of anti-money laundering rules for years.

Wells Fargo has uncovered up to 1.4 million more fake accounts after digging deeper into the bank's broken sales culture. The findings show that Wells Fargo's problems are worse than the bank previously admitted to when the scandal began almost a year ago.

Two French bank managers were indicted today for participating in a scheme to transmit false and misleading information related to the London Interbank Offered Rate (LIBOR), a global benchmark interest rate to which trillions of dollars of financial transactions are tied. Acting United States Attorney Bridget M. Rohde of the Eastern District of New York, Acting Assistant Attorney General Kenneth A. Blanco of the Justice Department’s Criminal Division, and Assistant Director-in-Charge Andrew Vale of the Federal Bureau of Investigation’s (FBI) Washington Field Office made the announcement.

Since a revolving door was installed at the entrance to the West Wing of the White House, it has been difficult to keep track of the comings and goings in America’s corridors of power. Anything written about the Trump administration’s personnel and policies may be invalid before it is published.

Wells Fargo has already admitted to charging people for overdrawing bank accounts that they didn't have and for car insurance that they didn't need. Now, it's being accused of ripping off vulnerable mom-and-pop businesses. For several years, Wells Fargo's merchant services division overcharged small businesses for processing credit card transactions, a lawsuit alleges. Business owners who tried to leave Wells Fargo were charged "massive early termination fees," according to the lawsuit filed in US District Court.

More than 800,000 people who took out car loans from Wells Fargo were charged for auto insurance they did not need, and some of them are still paying for it, according to an internal report prepared for the bank’s executives.

Wells Fargo and Co said it would reimburse about $80 million to 570,000 customers who may have been charged wrongly due to issues related to auto collateral protection insurance (CPI) policies. Wells Fargo has been engulfed in scandal since September, when it reached a $190 million settlement with regulators over complaints that its retail banking staff had opened as many as 2.1 million unauthorized client accounts.

The bank became notorious last year for creating fake accounts on behalf of customers. Now it's trying to kill a class-action lawsuit over shady debit card fees. Wells Fargo became a poster child for corporations that abuse their own customers last year when it got fined for ginning up roughly 2 million (maybe even more) fake accounts to meet high sales goals. The bank has since tried to block customer lawsuits over that misconduct, using fine print buried in contracts known as the forced arbitration clauses, which force customers to go not before judges but a secretive non-judicial process to get relief.