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Money Laundering

The Skeleton in the Papal Closet

Edward Jay Epstein | Posted 06.21.2013 | World
Edward Jay Epstein

The new Pope Francis is clearly a well-intentioned man. But all his austerity measures, personnel changes, and efforts at transparency will do little to change its century-old insolvency problem. Now, more than ever, the Vatican needs money.

Bravo for Tunisia: Hope Springs Eternal

Raymond Baker | Posted 06.19.2013 | World
Raymond Baker

The repatriation of $28.8 million of Ben Ali's stolen assets is a victory for the people of Tunisia. Now, let's try to keep it there.

Nine Trust-Based Problems With Bitcoin

Steven Strauss | Posted 06.14.2013 | Business
Steven Strauss

Bitcoin seeks to be an electronic cash (currency) system that doesn't rely on trust. Paradoxically, Bitcoin requires a trust-based ecosystem.

The One Thing Missing From The Border Conversation

VOXXI | Griselda Nevarez | Posted 04.06.2013 | Latino Voices

Former Arizona Attorney General Terry Goddard said recent conversations over border security are missing a critical element: money laundering. Godd...

Why UN Arms Negotiations Must Include Talk of Ending Corporate Secrecy

Stefanie Ostfeld | Posted 06.01.2013 | World
Stefanie Ostfeld

As United Nations representatives meet to hammer out a Global Arms Trade Treaty (ATT) in New York this week, they must take into account the role of corporate secrecy in facilitating illegal arms trafficking and other crimes around the world.

When Good Things Happen to Bad People

Jerry Ashton | Posted 05.08.2013 | New York
Jerry Ashton

As our government of the richest and mightiest country in the world is incapable of effecting retribution, we can only implore the divinity: please see to it that really bad things happen to these really bad people.

Eleazar David Melendez

Sheldon Adelson's EuroVegas Faces Fresh Criticism After 'Likely' Lawbreaking Admission | Eleazar David Melendez | Posted 03.06.2013 | Business

NEW YORK -- Las Vegas Sands Corp., the global gambling empire headed by Republican benefactor Sheldon Adelson, recently acknowledged to American regul...

Zach Carter

Republicans Offer Wall Street Reform Deal | Zach Carter | Posted 02.12.2013 | Politics

WASHINGTON -- After more than four years of blanket opposition to Wall Street reform, House Republicans are finally offering Democrats a deal. But the...

CEO Reveals Why His Bank Was 'Very Attractive' To Criminals

Reuters | Posted 04.08.2013 | Business

* Structure was "not fit for purpose" in modern world -CEO * Says structural change was biggest in HSBC's history * Mexi...

Illicit Financial Flows: The Scourge of the Developing World

Raymond Baker | Posted 03.09.2013 | World
Raymond Baker

The West should do three things right away. First, we should eliminate anonymous shell corporations, so no criminal can hide nefarious actions behind an innocent-sounding Delaware LLC or Cayman Islands trust.

This Big Bank Laundered 'A Lot Of Money' For Colombian Drug Lords

Reuters | Posted 03.04.2013 | Business

* Drug cartels used complex scheme to launder money * Smuggled dollars to Mexico, put them in HSBC accounts * Ring bough...

Money Launderers and Corporate Bribers Must Be Brought to Justice

Frank Vogl | Posted 02.26.2013 | Crime
Frank Vogl

The punishment needs to fit the crime, but are some giant multinational corporations now so large that they no longer can be punished effectively?

Matt Taibbi: HSBC Committed The 'Worst Behavior That Any Bank Can Possibly Be Guilty Of'

Posted 12.14.2012 | Business

Thinking of robbing a bank? Bad idea. You're more likely to get away with a crime working from the inside. That's Matt Taibbi's take anyway. In...

Mark Gongloff

Obama Administration's Terrible Message To Big Banks | Mark Gongloff | Posted 12.12.2012 | Business

One of the great things about being too big to fail is that you're also too big to jail, apparently. So saith the Obama administration, via the New...

Apparently Allowing Money Laundering Could Cost You

Reuters | Posted 02.04.2013 | Business

By Carrick Mollenkamp and Brett Wolf NEW YORK/WASHINGTON, Dec 5 (Reuters) - HSBC Holdings Plc might pay a fine of $1.8 billion as par...

The Racketeer Is a Step Back for Grisham

Jackie K. Cooper | Posted 01.20.2013 | Books
Jackie K. Cooper

John Grisham is a good writer and in some instances he is a great writer, but with The Racketeer he only uses a small amount of the talent he has shown in the past.

A Bill to End Secrecy Surrounding Shell Companies

Stefanie Ostfeld | Posted 01.14.2013 | Politics
Stefanie Ostfeld

Rare is the Congressional bill whose upsides so lopsidedly outweigh its downsides. With one piece of legislation, Congress can make significant inroads to combat terrorism, drug trafficking, illegal arms deals, corruption, money laundering, and tax evasion.

'Shameful And Embarrassing'

Reuters | Posted 01.23.2014 | Business

* Adds $800 mln to provision for lax anti-money laundering controls * Fine could be "significantly higher", likely to involve crimina...

California Story: The Initiatives Shake Down While Banana Republic Politics Revs Up

William Bradley | Posted 12.26.2012 | Politics
William Bradley

After a mostly sleepy summer and fall, California's initiative campaigns are concluding in a paroxysm of the bizarre. Here's the latest in the wild banana republic-style funding action, and a forecast of the outcomes of the various initiatives on the ballot.

Guilty Until Proven Innocent: Extortion Against Standard Chartered Shows Bias Against Iran

Danny Schechter | Posted 10.22.2012 | Business
Danny Schechter

Wall Street has become a place where real financial fraudsters go unpunished while inflated cases like this get the attention especially when a demonized "evil doer" like Iran is said to be involved. Real crimes like the way sanctions hurt ordinary Iranians go unreported.

Is This Bank Connected To Iran?

Reuters | Posted 10.18.2012 | Business

CHICAGO, Aug 18 (Reuters) - U.S. prosecutors are investigating Deutsche Bank and several other global banks over business linked to Iran, Sudan and ...

Wal-Mart Discloses "Nada" in Mexigate Bribery Case

Al Norman | Posted 10.17.2012 | Business
Al Norman

Wal-Mart now has until August 28 to become transparent. For a company that says it has no gray areas, Wal-Mart remains a remarkably opaque company. Only a business with something to hide would stone-Wal Congress this way.

Moving Money Laundering Investigations Into Top Gear

Frank Vogl | Posted 08.15.2012 | Business
Frank Vogl

Standard Chartered Bank has agreed to settle charges that it engaged in as much as $250 billion of illicit banking transactions on behalf of Iran in recent years. But this is not the end of its troubles. It's just the beginning.

Bank To Pay Big Over Iran Dealings

Reuters | Posted 10.14.2012 | Business


Successful Olympics Overshadowed Horrible Summer for the City of London

David Paul | Posted 10.14.2012 | Business
David Paul

The problems are not Britain's alone. It appears that we may be migrating toward the worst of both worlds.