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They also said the World Bank's subsequent discontinuation of the "Doing Business" series of annual reports could make it harder for investors to assess where to put their money. An investigation ...
The investigation into the LIBOR rate-rigging scandal continues, with regulators and investigators tackling each of the banks involved one by one. Barclays and UBS settled previously for their ...
The U.S. Department of Justice slapped U.K. banking giant Barclays with a $160 million penalty last week, declaring that "Barclays Bank's illegal activity involved manipulating its submissions for ...
The World Bank-China ranking controversy refers to the alleged manipulation of China’s ranking in the World Bank’s annual Doing Business report by World Bank officials while they were negotiating a multibillion-dollar capital increase from China.
Libor is an average interest rate calculated through submissions of interest rates by major banks across the world. The scandal arose when it was discovered in 2012 that banks were falsely inflating or deflating their rates so as to profit from trades, or to give the impression that they were more creditworthy than they were. [3]
The forex scandal (also known as the forex probe) is a 2013 financial scandal that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates on the forex market for their own financial gain.
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
In northern Peru, the World Bank's business-lending arm is part owner of the Yanacocha gold mine, accused by impoverished farming communities of despoiling their land in pursuit of the precious ore. The bank and IFC have stepped up investments in projects deemed to have a high risk of serious and environment damage, including oil pipelines, mines and even coal-fired power plants, an ...