EMEA Daily: Ping Express Pleads Guilty to Failing to Maintain Adequate AML Safeguards
In today’s top news from Europe, the Middle East and Africa (EMEA), Ping Express pleads guilty to anti-money laundering failings, plus Amazon adds new jobs in the U.K.
HSBC Names Mark Evans to Lead Cross Border Payments
Mark Evans was appointed to HSBC global head of Cross Border and Cross Currency Payments, Global Liquidity and Cash Management (GLCM). In this new role, he will manage the European bank’s global clearing business, global disbursement solutions and FX-based services.
A 25-year veteran with HSBC, Evans has held numerous positions in the U.K. and Latin America, and most recently was MD Payments Advisory, in charge of cross-border FX payment services.
BoA Names Former Prudential Exec James Gill for EMEA Top Post
James Gill was promoted by Bank of America (BoA) to lead its coverage of financial companies in Europe, the Middle East and Africa (EMEA). He joined the bank in 2020 following executive roles at Prudential Insurance and Morgan Stanley.
Gill will be based in London and tasked with developing relationships with key clients and expanding the unit’s commercial focus.
Money Transfer Firm Ping Express Admits to AML Violations
Texas money transfer firm Ping Express pleaded guilty to failing to maintain an effective anti-money laundering (AML) program. The company transmitted more than $167 million overseas, including $160 million transmitted to Nigeria.
Ping Express, headquartered in Dallas, also admitted it failed to seek sufficient details about the sources or purposes of the funds involved in the transactions, or the customers initiating the transmissions.
Amazon Plans Over 4,000 UK Jobs Despite Global Slowdown
Amazon is adding 4,000 new permanent jobs in the U.K. by the end of 2022, which will make it one of the 10 largest private sector employers in the region. The eCommerce giant had previously announced that 1,500 new apprenticeships would be created in 2022.
The latest round of hiring will include roles in corporate and technology functions in Amazon and Amazon Web Services (AWS), including software development, product management, engineering and operations team positions in fulfillment centers, sort centers and delivery stations.