Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Posts Tagged ‘money laundering at Standard Chartered’

Standard Chartered Money Laundering: Wash, Rinse, Repeat

Posted by Larry Doyle on August 19th, 2014 8:31 AM |

When a penalty does not fit the crime it should come as no surprise that the activity in question is likely to perpetuate.

We would seem to see evidence of this reality in the ongoing “wash, rinse, repeat” cycle of money laundering activities at the laundromat heretofore known as Standard Chartered Bank.

The Financial Times peers inside this washing machine this morning to reveal the following dirty laundry: (more…)

HSBC Money Laundering Scandal: More Racketeering

Posted by Larry Doyle on December 11th, 2012 8:42 AM |

Can you imagine if those involved in organized rackets including prostitution, drug dealing, human trafficking and the like were able to resolve their criminal activities by merely paying a fine?

What do you think their response would be? Do you think they would take a vow of chastity and then look to engage in upstanding business? Of course not. They would think “how the hell do we get that money back?”

Human nature being what it is, are we to believe that simply because executives of a banking institution issue a few mea culpas, accept some tough language, clawback some individual compensation, and profess to clean up their act BUT FACE NO INDIVIDUAL PROSECUTIONS might really change their stripes? Or are they inclined to think, “how the hell do we get that money back?” (more…)

Standard Chartered Scandal: “Asian Regulators Had Lost Faith in American Regulators”

Posted by Larry Doyle on August 13th, 2012 8:58 AM |

I would not expect that Benjamin Lawsky, superintendent of the New York State Department of Financial Services, is receiving many invitations on the Washington cocktail circuit currently.

When Lawsky recently brought to light the alleged longstanding Iranian money laundering activities at Standard Charted Bank, he not only dropped a bombshell on the institution, he dropped an even bigger explosive into the midst of America’s largest financial regulators. Good for him and for us.

We are long overdue for somebody with a real set of balls to expose the crony capitalism that defines our domestic and international banking and regulatory system these days.  (more…)






Recent Posts


ECONOMIC ALL-STARS


Archives