Tag Archives: Money Laundering

US Treasury takes new action against Hezbollah funders

Posted on April 23, 2013 by David

he US Treasury Department on Tuesday listed two Lebanese exchange houses as institutions of “primary money laundering concern” for their work with Hezbollah, invoking Section 311 of the USA PATRIOT Act to effectively shut them out of the American economy. … Continue reading →

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How much drug money does a bank have to launder before we consider shutting them down?

Posted on March 7, 2013 by David

From YouTube: From Sen. Elizabeth Warren YouTube Channel 03/07/2013. Senator Elizabeth Warren’s Q&A at the March 7, 2013 Banking Committee hearing entitled “Patterns of Abuse: Assessing Bank Secrecy Act Compliance and Enforcement.” Witnesses were: David Cohen, Under Secretary for Terrorism … Continue reading →

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HSBC Executive Resigns At Senate Money Laundering Hearing

Posted on July 17, 2012 by David

HSBC Holdings Plc (HSBA)’s head of group compliance, David Bagley, told a Senate hearing he will step down amid charges the bank gave terrorists, drug cartels and criminals access to the U.S. financial system by failing to guard against money laundering. … Continue reading →

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