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| Europe |
| Leading Euro Banks Engaged in Systematic Money Laundering |
| 2010-09-05 |
| A Manhattan D.A.'s inquiry merged with a US DOJ inquiry ultimately widened to some of Europe's vaunted banks, helping spark a global inquiry that found they actively evaded U.S. law in aiding sanctioned countries, banks or other enterprises move some $2 billion undetected. The investigators discovered that the banks ran dedicated units to systematically aid the undetected transfer of money through the U.S. banking system. They did that by removing identifying coding on fund transfers so they could evade automated U.S. bank computer systems designed to spot money flowing from a sanctioned state. Karl Denninger said it best, "These are serious criminal acts folks. This money gets people killed. Literally. It buys guns, it buys missiles, it buys bombs. Bombs, guns and missiles that are then used to shoot at our troops and those of our friends." Nine banks have been caught up in the probe, and some are in discussions to settle, three already have. Note that the perps have or are about to 'settle' as opposed to 'being banned from doing business in and with the USA. plus 'indictment, arrest and trial' for criminal acts directly endangering the US. |
| Posted by:Anguper Hupomosing9418 |
| #4 Thanks tipper. |
| Posted by: Mike Ramsey 2010-09-05 15:11 |
| #3 More background here. |
| Posted by: tipper 2010-09-05 12:08 |
| #2 ... move some $2 billion undetected. That is the $2b of undetected money that we have detected. Note that the perps have or are about to 'settle' as opposed to 'being banned from doing business in and with the USA. Don't their own countries have criminal laws against "removing identifying coding on fund transfers"? What say their governments? |
| Posted by: Mike Ramsey 2010-09-05 11:15 |
| #1 Seeing that the USD Dept. of |
| Posted by: Barbara Skolaut 2010-09-05 11:07 |