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Major Banks Still at Risk for Money Laundering

money_laundering

Britain’s major banks remain vulnerable to being used to fund terrorism and money laundering by criminal gangs, despite being fined billions of pounds in recent years for failing to crackdown on illegal financing.

 

Martin Wheatley, chief executive of the FCA, has warned that banks have still not done enough to

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Money Laundering With Actual Soap

money_laundering

The moment money launderers get lazy is the moment they get caught. Such is the case with two men who allegedly decided that transferring a lump sum of $9.7 million to buy 10 million bars of soap wouldn’t turn any heads.

Late Thursday, Costa Rican investigators raided the office (Spanish link) of

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HSBC: Double Standard Drug War

money_laundering

Matt Taibbi: ‘Outrageous HSBC Settlement Proves The Drug War Is A Joke’

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By Matt Taibbi

Rolling Stone

If you’ve ever been arrested on a drug charge, if you’ve ever spent even a day in

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5 Outrageous Revelations on HSBC’s Drug Money Laundering

money_laundering

Matt Taibbi’s most recent Rolling Stonearticle unpacks one of last year’s most shocking bank cases in our era of “ Too Big to Jail.” In December, HSBC was punished with a $1.9 billion settlement on drug laundering charges, the largest in American history, yet only five weeks worth of profits for the world’s

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HSBC Settlement: The War on Drugs Completely Bogus

Lanny Breuer

If you’ve ever been arrested on a drug charge, if you’ve ever spent even a day in jail for having a stem of marijuana in your pocket or “drug paraphernalia” in your gym bag, Assistant Attorney General and longtime Bill Clinton pal Lanny Breuer has a message for you: Bite me.

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British Bank Accused of Laundering Iranian Funds

A major British bank, using its New York operations, “schemed” with the Iranian government for nearly a decade to launder $250 billion, exposing the United States financial system to terrorist entities, drug traffickers and corrupt regimes, New York’s top banking regulator charged on Monday.

The New York State Department of Financial Services (DFS) accused

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Banks Profit From Colombian Cocaine

While cocaine production ravages countries in Central America, consumers in the US and Europe are helping developed economies grow rich from the profits, a study claims

The vast profits made from drug production and trafficking are overwhelmingly reaped in rich “consuming” countries – principally across Europe and in the US – rather than war-torn “producing”

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Chinese Bank Sued for Financing Terrorism

Dozens of Israeli terror victims are suing the Bank of China for helping fund two groups they say launched attacks against them and their family members, in the latest case of Chinese-sponsored terrorism to make its way to U.S. courts.

A lawsuit alleging that the Bank of China aided and abetted the Palestinian Islamic Jihad

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Vatican Probed for Money Laundering

The Associated Press reported today that the Vatican expressed “astonishment” when an Italian court rejected the release of Vatican bank funds seized by authorities for failing to comply with international money laundering laws.

Prosecutors claim that the $30 million seizure that occurred last month is due to non-disclosure of the transfer destination of

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