Western Union is befuddled by the “complex nature” of complying with money laundering controls. Apparently it’s just darned hard to figure out how to not launder drug cartel money. They paid $94 million in fines in 2010, promised to sin no more, and to clean up their act. They were supposed to be in full […]
Tag Archives | money laundering
This sobering report from Chatham House details the various ways DTOs (Drug Trafficking Organizations) launder money, manipulate stock prices, and turn dirty money into minty fresh clean money. Drug cartels have multitudes of businesses, some of which may have legitimate income. Invoices and contracts are created, money is received. However, the services provided are fictitious. […]
Saddle River Valley Bank, which has since been absorbed by another bank, will pay $8.2 million in fines for money laundering violations and of course no one got indicted because the Obama Administration doesn’t indict banksters. Rule of Law is, of course, just for the little people. “It’s pretty remarkable that a small community bank in […]
In a quaintly worded headline, The Telegraph says UK banks are “vulnerable” to money laundering. In my view, the banks are active, knowing participants. They need that dirty money so they can pretend to still be solvent. Some of them no doubt are seriously mobbed up. Major banks still vulnerable to money laundering, says top […]
A priest was arrested last week in a scheme to bring $26 million into Italy illegally for a financier. The “priest” has a very odd background indeed. It’s all financial. He became a priest at 35 and seems little interested in doing the work of the Lord, preferring money-laundering apparently. Corruption at Vatican Bank has […]
Apparently money laundering is a-ok if you’re a bankster. The penalties are a slap on the wrist and no criminal prosecutions. This is pathetic and an insult to Rule of Law and is really more like a protection racket by state and federal “regulators.” Bankers launder money, state and federal entities grab tiny piece of the profits, […]
Would it be too much for the Vatican to stop attacking gays and molesting children long enough to institute those anti-money laundering provisions at the Vatican Bank they’ve been promising they’ll get around to one of these decades? Apparently so. Italian authorities have stopped all electronic payments inside the Vatican City after the Bank of […]
Hezbollah profits from US drug market via Mexico cartel Beirut bank seen as a hub of Hezbollah’s drug money financing What if we scrubbed Wachovia like we did the Lebanese Canadian Bank? Indeed.
Egypt’s former interior minister, Habib el-Adli, was sentenced to 12 years in prison for profiteering and money laundering, the state-run Nile News reported. When will there be criminal indictments against banksters who launder money here? Wachovia got a slap on the wrist fine for laundering drug cartels billions. Yet no one went to prison.
The vice chairman of SunFirst Bank, a small bank with four branches in southern Utah, was released from jail Monday after surrendering his passport. He will stand trial on federal money laundering charges for using the bank to process money from online poker sites in exchange for a $10 million investment in the bank and […]