Article: ECU Group Accuses HSBC of Fraud and Misconduct Made on Its FX Trading Desk

Article - Media

ECU Group Accuses HSBC of Fraud and Misconduct Made on Its FX Trading Desk

Felipe Erazo, 15 June 2021

A currency manager, ECU Group has accused the multinational investment bank, HSBC of fraud and misconduct within its foreign exchange (forex) trading desk between 2004 and 2006. According to a report published by the Financial Times, quoting a hearing at the UK High Court on Monday, an alleged ‘rotten culture’ between such a period allowed bankers to misuse confidential data.

In fact, the ECU Group claims that HSBC is responsible for having committed fraud related to 52 forex trades it placed with the bank in those years. The allegations were made in the context of a trial that expects to last for at least seven weeks. The banking giant denied all the claims made by the currency manager, the FT said. Continue reading “Article: ECU Group Accuses HSBC of Fraud and Misconduct Made on Its FX Trading Desk”

Article: South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’

Article - Media, Publications

South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’

Felipe Erazo, 10 April 2021

According to Chosun, the South Korean Government met with politicians, law enforcement, and financial watchdog authorities to take down illicit transactions from what they named an “overheated market.”

The meeting was led by the Second Deputy Secretary of State Moon Seung-wook, who called authorities from the Financial Services Commission, the Ministry of Strategy and Finance, the Ministry of Justice, and the National Police Agency. Continue reading “Article: South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’”