Items tagged with money laundering

Item title Description
As the mayor of Amsterdam, I can see the Netherlands risks becoming a narco-state [05.01.2024] In the Netherlands, we used to look on the international “war on drugs” with a certain amount of disdain. Its solutions were prohibition, criminalisa ...
ABN raises charges for coffeeshops by 1000% to cover money laundering costs [28.10.2021] ABN AMRO is raising its bank charges for coffeeshops by 1000% to cover the costs of complying with anti-money laundering laws. From January coffeesho ...
Special Report: Burner phones and banking apps [03.12.2020] U.S. law enforcement officials say Chinese “money brokers” represent one of the most worrisome new threats in the war on drugs. Small cells of Chines ...
Money laundering: How Moroccan cannabis becomes Emirati gold [22.09.2020] Years of investigations have revealed the intricate money laundering network that turns Moroccan hash into gold in Dubai. Revelations into the dealin ...
Poor IT skills mean investigations into money laundering rarely bear fruit [27.07.2020] Only a handful of the tens of thousands of annual reports of suspected money laundering end up in court case because watchdog staff lack IT expertise ...
Is Southeast Asia's drug trade too big to control? [19.05.2020] Police in Myanmar this week announced the largest synthetic drug seizure on record in Southeast Asia. Between February and April, security forces sei ...
Cannabis sales in EU raise $13 billion for crime gangs [26.11.2019] Europeans spent at least 11.6 billion euros (£9.9 billion) in 2017 on illegal cannabis purchases, confirming marijuana as the largest drugs market in ...
Criminals launder €13bn a year in the Netherlands, most crime cash is Dutch [13.11.2019] At least €13bn is laundered through the Netherlands on an annual basis, with most of the money coming from Dutch criminal enterprises, according to n ...
Taking stock: A decade of drug policy [22.10.2018] ‘Taking stock: A decade of drug policy’ evaluates the impacts of drug policies implemented across the world over the past decade, using data from the ...
Britain’s war on dirty money lacks oomph [11.10.2018] No one knows how much dirty money is rinsed through London, but Britain’s National Crime Agency (NCA) reckons British banks and their subsidiaries (i ...
Money launderers are taking EU to the cleaners, experts say [30.09.2018] European Union nations may boast the world's most stringent anti-money laundering rules, but recent scandals show that criminals are good at exploiti ...
ING lax on money laundering, agrees €775m out-of-court settlement [04.09.2018] The public prosecution department has reached a €775m out of court settlement with ING for failing to properly monitor money transfers for potential ...
Caricom Commission: Marijuana laws too draconian [08.07.2018] The Caricom Regional Commission on Marijuana has labelled existing regional marijuana laws as draconian and one which carries with it inappropriate c ...
Commonwealth Bank agrees to pay $700m to settle money laundering lawsuit [04.06.2018] The Commonwealth Bank has agreed to pay $700m to settle civil proceedings relating to breaches of anti-money laundering and counter-terrorism financi ...
Tax-haven transparency won’t stop money laundering in Britain [08.05.2018] Britain’s overseas territories are to be forced to adopt public registers of company ownership by the end of the decade. That’s a step in the right d ...
Europe is losing the fight against dirty money [02.04.2018] Rob Wainwright, who will be leaving his post as Europol director after almost a decade, said: “One of my favorite frustrations is on financial crime ...
Rabobank to pay $369 million in money-laundering case [08.02.2018] Dutch lender Rabobank’s California unit agreed to pay $369 million to settle allegations that it lied to regulators investigating allegations of laun ...
Why marijuana retailers can’t use banks [22.01.2018] Nearly two-thirds of America’s states have legalised pot sales for certain uses, but the federal government still classifies marijuana as a Schedule ...
A banker who helped hide Mexican drug money is helping U.S. prosecutors [18.12.2017] A former U.S. manager for Dutch banking giant Rabobank Groep says he helped hide possible criminal activity by clients and is assisting U.S. prosecut ...
California proposes armored cars to transport pot tax money [07.11.2017] California should use armored cars to transport hundreds of millions of dollars in cash tax payments expected next year with the state's legal mariju ...
Pot was flying off the shelves in Uruguay. Then U.S. banks weighed in [25.08.2017] The pharmacies selling pot were doing a brisk business. After Uruguay became the first country in the world to fully legalize marijuana sales for rec ...
Uruguay finds no banks for the bongs [22.08.2017] Understated and simpatico, former Uruguayan president Jose Mujica isn't easily rattled. Just don't mess with his reefer. That was the message from Mo ...
Legal marijuana sale faces challenges by banks in Uruguay [18.08.2017] The legal sale of marijuana in Uruguayan pharmacies is facing challenges as banks refuse to deal with companies linked to the drug in order to follow ...
California considering creating a state-run bank for cannabis businesses [16.07.2017] California government, financial and marijuana business leaders met last week in a far-from-resolved debate over whether a state-run bank could be th ...
Cannabis cash conundrum: Some businesses bury money, others truck it to a federal vault [12.07.2017] With recreational use set to become legal next year under Proposition 64, cannabis sales in the state are expected to top $7.5 billion in 2020, up fr ...
Federal bills from Colorado legislators seek to shield state marijuana laws, open banking [18.05.2017] Colorado federal lawmakers amplified efforts to protect state-enacted marijuana laws and cannabis businesses supporting banking legislation for the m ...
New federal bill would allow banking for marijuana businesses [27.04.2017] Marijuana businesses can’t openly bank and congressman Ed Perlmutter, D-Colo., is hoping to change that. Perlmutter on Thursday introduced the Secure ...
Panama Papers demonstrate need to reopen UNGASS 2016 outcome document [08.04.2016] The Panama Papers, a massive leak of confidential documents from Mossack Fonseca, a law firm in Panama that helped wealthy clients and money laundere ...
The world's most powerful drug lord has been linked to the Panama Papers [06.04.2016] Documents from global law firm Mossack Fonseca leaked to journalists have linked the firm to two alleged money launderers and drug traffickers tied t ...
EU finance ministers call for restrictions on €500 note over crime fears [11.02.2016] EU finance ministers have called for an investigation into the €500 note, amid growing concern it is making life easier for terrorists, money launder ...
HSBC sued over drug cartel murders after laundering probe [08.02.2016] Families of U.S. citizens murdered by drug gangs in Mexico sued HSBC Holdings Plc, claiming the bank can be held responsible for the deaths because i ...
HSBC fights to stop money-laundering report going public [13.01.2016] HSBC is trying to prevent publication of a report on how it complies with money-laundering rules imposed on it by the US authorities in 2012, when it ...
London is now the global money-laundering centre for the drug trade, says crime expert [03.07.2015] The City of London is the money-laundering centre of the world's drug trade. UK banks and financial services have ignored so-called "know your custom ...
Big need for marijuana banking, yet Congress has ‘no appetite’ to fix issue [03.04.2015] Congress doesn’t have the appetite to deal with the conflict between federal and state laws that has caused a banking crisis for the burgeoning marij ...
HSBC got away with buying cocaine plane [10.02.2015] A money-laundering investigation as big as the bank itself ended with a deferred prosecution agreement that allowed HSBC to escape criminal charges a ...
Banks are slowly welcoming legal marijuana dealers [12.08.2014] A top federal official said that 105 banks and credit unions are doing business with legal marijuana sellers, suggesting that federal rules giving fi ...
U.S. issues marijuana guidelines for banks [14.02.2014] The Obama administration issued guidelines intended to give banks confidence that they will not be punished if they provide services to legitimate ma ...
Global Surveillance of Dirty Money [30.01.2014] This first independent assessment of the global AML system, conducted by the Center on Law and Globalization, appraises efforts to rate countries by ...
Banks say no to marijuana money, legal or not [14.01.2014] Legal marijuana merchants — mainly medical marijuana outlets but also, starting this year, shops that sell recreational marijuana in Colorado and Was ...
Drug law enforcement and financial investigation strategies [31.08.2013] Since the 1980s, there has been a major push in rhetoric and institution-building, emphasizing the centrality of attacking the financial lifeblood of ...
Deficiencies in financial oversight enable money laundering [15.05.2013] In July 1989, the leaders of the economic powers assembled at the G7 Paris summit decided to establish a Financial Action Task Force (FATF) to counte ...
HSBC gives Argentina prosecutors chance to correct US blunder [31.03.2013] The accusations from Argentina's tax authority that London-based HSBC laundered over $100 million may pale in comparison to that of the bank's US - M ...
Warren: Drug possession warrants jail time but laundering cartel money doesn’t? [06.03.2013] Appearing at a Senate Banking Committee hearing, Sen. Elizabeth Warren (D-MA) grilled officials from the Treasury Department over why criminal charge ...
Gangster bankers: Too big to jail [13.02.2013] The deal was announced quietly, just before the holidays, almost like the government was hoping people were too busy hanging stockings by the firepla ...
Outrageous HSBC settlement proves the drug war is a joke [12.12.2012] A settlement deal with the British banking giant HSBC is the ultimate insult to every ordinary person who's ever had his life altered by a narcotics ...
Global banks are the financial services wing of the drug cartels [22.07.2012] Last week, managers from Britain's biggest bank, HSBC, lined up before the Senate's permanent sub-committee on investigations. Europe's largest bank ...
Western banks 'reaping billions from Colombian cocaine trade' [01.06.2012] While cocaine production ravages countries in Central America, consumers in the US and Europe are helping developed economies grow rich from the prof ...
Draining Development? [29.02.2012] The book provides the first collection of analytic contributions, as opposed to advocacy essays and black box estimates, on illicit financial flows ( ...
How a big US bank laundered billions from Mexico's murderous drug gangs [02.04.2011] "Wachovia's blatant disregard for our banking laws gave international cocaine cartels a virtual carte blanche to finance their operations," said a fe ...
Banks financing Mexico gangs admitted in Wells Fargo deal [28.06.2010] Wachovia made a habit of helping move money for Mexican drug smugglers. Wells Fargo & Co., which bought Wachovia in 2008, has admitted that its unit f ...

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