Read news from:
Austria
SHARE
COPY LINK

BANK

Swiss National Bank hit by new spray paint attack

A woman activist spray painted a message on a billboard outside Switzerland’s central bank on Friday in an echo of a similar protest last year in which an 86-year-old woman was arrested.

Published: 27 April 2018 13:00 CEST
Swiss National Bank hit by new spray paint attack
File photo: Fabrice Coffrini/AFP

The incident occurred as the Swiss National Bank (SNB) held its annual general meeting in Bern, the Blick newspaper reported.

An unidentified woman sprayed the message 'please remember why we founded you' on the billboard in red paint.

According to the paper, the protestor was campaigning in support of the campaign for monetary reform, which goes to a nationwide vote in June.

READ ALSO: Why the Swiss National Bank needs more gold

Known as the Vollgeld Initiative in German and the Initiative Monnaie Pleine in French, the initiative calls an end to traditional bank lending and for the SNB to be the only financial institution able to issue money. 

The SNB opposes the sovereign money initiative.

With the help of other activists, the spray painter removed the words a short time later.

Almost exactly one year ago an 86-year-old woman was arrested after spraying an anti-war message outside the SNB in a case that drew worldwide attention.

READ ALSO: Woman, 86, arrested for spraying anti-war graffiti on Swiss National Bank

The peace activist spray-painted ‘Money for weapons kills' on the billboard. 

She was campaigning on behalf of the Group for a Switzerland without an Army (GSsA) which had launched a popular initiative to ban Swiss financing of any company that produces arms. 

If it gathers the required 100,000 signatures by October 2018, the issue will go to a national referendum. 

BANK

Deutsche Bank to pay $130m to settle US bribery probes

Deutsche Bank will pay $130 million to settle a foreign bribery probe and fraud charges in precious metals trading, US officials announced on Friday.

Published: 9 January 2021 15:08 CET
Deutsche Bank to pay $130m to settle US bribery probes
A woman walks past the offices of Deutsche Bank in London. Photo: Tolga Akmen / AFP
The bribery case relates to illegal payments and to false reporting of those sums on the bank's books and records between 2009 and 2016, the Department of Justice said in a press release.
   
The bank “knowingly and wilfully” kept false records after employees conspired with a Saudi consultant to facilitate bribe payments of over $1 million to a decision maker, the DOJ said.
   
In another case, the bank paid more than $3 million “without invoices” to an Abu Dhabi consultant “who lacked qualifications… other than his family relationship with the client decision maker,” the DOJ said.
   
In addition to criminal fines and payments of ill-gotten gains, Deutsche Bank agreed to cooperate with government investigators under a three-year deferred prosecution agreement.
 
   
In the commodities fraud case, Deutsche Bank metals traders in New York, Singapore and London between 2008 and 2013 placed fake trade orders to profit by deceiving other market participants, the DOJ said.
   
The agreement took into account Deutsche Bank's cooperation with the probes, DOJ said.
   
“Deutsche Bank engaged in a criminal scheme to conceal payments to so-called consultants worldwide who served as conduits for bribes to foreign officials and others so that they could unfairly obtain and retain lucrative business projects,” said Acting US Attorney Seth D. DuCharme of the Eastern District of New York.
   
“This office will continue to hold responsible financial institutions that operate in the United States and engage in practices to facilitate criminal activity in order to increase their bottom line.”
   
“We take responsibility for these past actions, which took place between 2008 and 2017,” said Deutsche Bank spokesperson Dan Hunter, adding that the company has taken “significant remedial actions” including hiring staff and upgrading technology to address the shortcomings.
SHOW COMMENTS