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 Brit regulator
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.
And despite all the pious bankster bleating about how they value a free market and competition, in truth, they detest it.
EU: investment banks appear to have colluded on derivative prices.