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Money-Laundering Inquiry Said to Aim at US Banks

 
OneFootUnder
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09/15/2012 10:42 AM
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Money-Laundering Inquiry Said to Aim at US Banks
Federal and state authorities are investigating a handful of major American banks for failing to monitor cash transactions in and out of their branches, a lapse that may have enabled drug dealers and terrorists to launder tainted money, according to officials who spoke on the condition of anonymity.

These officials say they are beginning one of the most aggressive crackdowns on money-laundering in decades, intended to send a signal to the nation’s biggest banks that weak compliance is unacceptable.

Regulators, led by the Office of the Comptroller of the Currency, are close to taking action against JPMorgan Chase [JPM 41.57 0.17 (+0.41%) ] for insufficient safeguards, the officials said. The agency is also scrutinizing several other Wall Street giants, including Bank of America [BAC 9.55 0.15 (+1.6%) ].

[link to www.cnbc.com]
OneFootUnder (OP)
I have a dog named Cat Stevens

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09/15/2012 03:21 PM
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Re: Money-Laundering Inquiry Said to Aim at US Banks
bump