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Guardian Unlimited
| 6 months ago
Laurent Fievet/AFP/Getty Images Britain's biggest bank was forced to pay $1.9bn (£1.17bn) fine to settle allegations by US regulators that it allowed itself to be used to launder billions of dollars for drug barons and potential terrorists for nearly...
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Disinfo.com
| 6 months ago
It's worth noting that for the world's second largest bank, with trillions in assets, this is equivalent to a littering ticket. The New York Times writes: It is a dark day for the rule of law. London-based bank, on charges of vast and prolonged money...
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The Washington Times
| 6 months ago
L [anti-money laundering] compliance staff members, no one. Even more concerning is the fact that the individuals responsible for these failures are not being held accountable, he wrote...On Friday, the British banking giant agreed to pay $1.92...
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CNN
| 6 months ago
Assistant Attorney General Lanny Breuer defended the settlement Tuesday in a New York news conference...Chief Executive Stuart Gulliver released a statement Tuesday, saying "we accept responsibility for our past mistakes."
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The Economic Times
| 6 months ago
AkzoNobel, the world's largest paints maker, will sell its North American decorative paints business to U.S.-listed PPG Industries for $1.05 billion, to focus on Europe and high-growth regions. The North American decorative paints business, which...
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United Press International
| 6 months ago
Swiss banking giant UBS is close to reaching a deal with regulators to settle charges of interest rate manipulation, sources told The Wall Street Journal. It is expected that the bank will pay more than $1 billion to settle charges that it attempted...
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The Globe & Mail
| 6 months ago
Britain's Financial Services Authority also declined to comment. Such a penalty would be more than double the $450-million penalty imposed in June on British bank Barclays by U.S. and U.K. regulators. Barclays was the first and so far only bank to...
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Forbes
| 6 months ago
Worldwide Local Bank . . . for Money Laundering and Rogue Nations...US unit managed to position the brand in this way by accepting $7 billion of dollars from Mexican drug cartels, conducting 25,000 Iranian transactions totaling over $19 billion in...
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The Motley Fool
| 6 months ago
Admittedly Squishy Investing Metric I Just Love People often have a hard time saying "sorry," don't they? That one little word -- so fraught with weight, meaning, and of course, responsibility -- is hard enough for the average person who's cut in...
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CNN
| 6 months ago
The deal "makes a mockery of the criminal justice system." said Jimmy Gurule, a law professor at Notre Dame and former assistant attorney general. Mexico were using its branches to launder hundreds of millions of dollars through the U.S. The bank...
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Turks and Caicos Free Press
| 6 months ago
Hongkong and Shanghai Banking Corporation, but there has long been a joke inside and outside the firm that the name stands for "How Simple Became Complicated"...Europe's biggest bank, with more than 60 million customers across 84 countries, is unable...
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NewKerala
| 6 months ago
US regulators for money laundering, will no arrests within the firm, according to a report. Mexican drug cartels, and covered up illegal transactions for Burma, Iran, Sudan, Cuba, and Libya. Those nations were under banking sanctions because of human...
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Mail Online UK
| 6 months ago
City watchdog the FSA after it paid a record 1.2billion fine in the U.S. over money-laundering allegations. The 26-point plan is a huge embarrassment to the bank's management. The lender has been compelled to set up a special committee to oversee...
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Independent
| 6 months ago
Irish financial system were top executives at Europe's biggest bank. US authorities for failing to enforce money laundering rules after investigators uncovered damning evidence of the bank's role in moving cash for Mexican drug cartels and for banks...
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SF Gate
| 6 months ago
Holdings, Europe's largest bank, has agreed to pay $1.92 billion to settle U.S. probes of money laundering in the largest such accord ever. The settlement, announced Tuesday, includes a deferred prosecution agreement with the U.S...The United Kingdom'...
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Turks and Caicos Free Press
| 6 months ago
Holdings Plc's Mexico unit that a local drug lord referred to the bank as the "place to launder money," U.S. prosecutors said on Tuesday, as they announced a record $1.92 billion settlement with the British bank...But as part of the agreement, the...
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Los Angeles Times
| 6 months ago
The drug cartels' boxes of cash fit precisely into tellers' windows at their bank in Mexico ...The massive penalty still was not enough to appease some critics. No bank executives were charged as part of the investigation, leading some analysts to...
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The Independent
| 6 months ago
Yet it could have done without the kind of international exposure that upset United States senators this summer and the one that today resulted in it paying $1.9bn (£1.2bn) to settle a money-laundering probe. Mexican drug gangs looking to funnel cash...
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Washington Post
| 6 months ago
Money laundering was a major focus of U.S. counter-terrorism policy after the Sept. 11, 2001, attacks. The Patriot Act of 2002 included provisions that required the Treasury Department to identify banks and individuals suspected of links to terrorism.
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Merced Sun-Star
| 6 months ago
Mexican drug traffickers, Iran, Libya and others under U.S. suspicion or sanction to move money around the world...The U.S. stopped short of charging executives, citing the bank's immediate, full cooperation and the damage that an assault on the...
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The Guardian
| 6 months ago
US regulators for money laundering and sanctions busting, the first arrests were made in the Libor -rigging investigation, and nationalised Northern Rock handed the taxpayer a £270m bill to compensate customers affected by a mistake in its paperwork.
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International Herald Tribune
| 6 months ago
Richard Drew/Associated Press At a news conference in Brooklyn, Lanny A. Breuer, the head of the Justice Department's criminal division, defended the decision to not indict the bank. British banking giant transferred billions of dollars for...
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Turks and Caicos Free Press
| 6 months ago
Lanny Breuer, right, Assistant Lanny Breuer, center, Assistant Director of U.S. Mexican drug traffickers, Iran, Libya and others under U.S. suspicion or sanction to move money around the world...The U.S. stopped short of charging executives, citing...
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Money Morning
| 6 months ago
Europe's biggest bank settled charges in an agreement with the U.S...The fine is the largest penalty ever imposed on a bank from the Justice Department. Holdings PLC of illegally laundering money for Mexican drug cartels and with violating sanctions...
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The Guardian
| 6 months ago
Tuesday, insisting that a $1.9bn fine for a litany of offences was preferable to the "collateral consequences" of taking the bank to court. US sanctions, the consequences of a criminal prosecution would have been dire. US, the future of the...
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GMA News
| 6 months ago
Holdings Plc agreed to pay a record $1.92 billion in fines to U.S. authorities for allowing itself to be used to launder a river of drug money flowing out of Mexico and other banking lapses...In a deferred prosecution agreement with the Justice...
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Ledger-Enquirer
| 6 months ago
U.S. authorities on Tuesday over a probe in connection with the laundering of money from drug traffickers in Mexico.
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The Daily Herald
| 6 months ago
Holdings Plc, Europes largest bank, agreed to pay $1.92 billion to settle U.S. probes of money laundering in the largest such accord ever. The settlement includes a deferred prosecution agreement with the U.S. Department of Justice, the London-based...
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NY Daily News
| 6 months ago
The bank has also "clawed back" bonuses to compliance executives who failed to do their job. No criminal charges have been filed against any of the bank's executives under the agreement. U.S. dollars being exported from Mexico to the U.S., and failed...
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Bermuda Sun
| 6 months ago
United States authorities in relation to investigations regarding inadequate compliance with anti-money laundering and sanctions laws. This includes a Deferred Prosecution Agreement (DPA) with the US Department of Justice...US$1.921bn, continue to...
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The Motley Fool
| 6 months ago
Stocks are up broadly today following positive news out of Europe and optimism that politicians here at home will address the fiscal cliff before the end of the year...Data out of Germany suggests that economic confidence there is on the rise. The...
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Turks and Caicos Free Press
| 6 months ago
Bank Secrecy Act in connection with the laundering of money from narcotics drug traffickers in Mexico and intentionally allowed prohibited transactions with Iran and other nations that have been under sanctions, the Justice Department alleged Tuesday.
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NewKerala
| 6 months ago
Tuesday said that it will pay a record $1.92 billion to settle allegations resulting from a wide international money-laundering probe by U.S. federal and state authorities. Holdings admitted to a breakdown of controls and apologised in a statement on...
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The Age
| 6 months ago
US authorities a record $US1.9 billion to settle allegations that its failure to enforce anti-money laundering rules left the US financial system exposed to drug cartels...Iran and enabled Mexican drug cartels to move money illegally through its US...
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The Motley Fool
| 6 months ago
Department of Justice to settle a long-running investigation into its lack of compliance with money laundering laws and economic sanctions, the company said in a statement . The settlement includes a deferred prosecution agreement, an accord under...
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Baltimore Sun
| 6 months ago
U.S. prosecutors, who accused Europe 's biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash. Holdings Plc admitted to a breakdown of controls and apologized in a statement on Tuesday announcing it had reached...
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Merced Sun-Star
| 6 months ago
Tuesday to pay $1.9 billion to settle a U.S. money-laundering probe. Europe's largest bank by market value will pay the biggest penalty ever imposed on a bank after facing accusations it transferred funds through the U.S. from Mexican drug cartels...
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Russia Today
| 6 months ago
Swiss bank UBS AG is reportedly close to settling an investigation by US and British authorities over alleged Libor rate manipulation and could pay a more than $450 million fine. Standard Chartered Bank headquarters. (Reuters / Bobby Yip) British...
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CNN
| 6 months ago
U.S. authorities to settle money laundering accusations -- activities which have allegedly occurred with drug cartels in Mexico and terror-linked groups in Saudi Arabia. UK's biggest bank by market capitalization, in breach of a series of U.S. laws,...
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Independent
| 6 months ago
US authorities a record 1.9 billion US dollars (1.5 billion) settlement over accusations that it allowed rogue states and drug cartels to launder billions of pounds through its US arm. Mexico, Iran and Syria , led to the resignation of head of...
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Fox
| 6 months ago
British banking giant, said Tuesday it will pay $1.9 billion to settle a money-laundering probe by federal and state authorities in the United States. The probe of the bank -- Europe's largest by market value -- has focused on the transfer of...
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Australian Broadcasting Corporation
| 6 months ago
US authorities $1.92 billion in a record settlement over money laundering allegations. The British bank was accused of helping to launder money belonging to drug cartels and countries under American sanction, including Iran and North Korea. It has...
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Channel NewsAsia
| 6 months ago
United States authorities in relation to investigations regarding inadequate compliance with anti-money laundering and sanctions laws," the Hong Kong-listed lender said in a statement. The London-based but Asia-focused bank also vowed to continue to...
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Merced Sun-Star
| 6 months ago
The British bank said in statement Tuesday that the settlement involves a deferred prosecution agreement with the U.S...The bank won't be prosecuted if it meets certain conditions, such as strengthening internal controls to prevent money laundering.
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The Globe & Mail
| 6 months ago
We have said we are profoundly sorry for them, and we do so again...Over the last two years, under new senior leadership, we have been taking concrete steps to put right what went wrong and to participate actively with government authorities in...
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United Press International
| 6 months ago
Holdings PLC is to pay a record $1.9 billion in a settlement with U.S. authorities covering years of alleged money laundering, officials said. The deal, to be announced Tuesday, stems from accusations the London banking giant transferred billions of...
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Los Angeles Times
| 6 months ago
British banking giant, will pay $1.9 billion to settle a money-laundering probe by federal and state authorities in the United States, a law enforcement official said Monday. The probe of the bank Europe's largest by market value has focused on the...
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Channel NewsAsia
| 6 months ago
The deal could be announced as early as Tuesday in New York, officials told the Journal. Citing people familiar with the matter, the Journal said that the figure includes nearly $1.3 billion, a record amount for a bank, as part of a deferred...
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BBC
| 6 months ago
US authorities $1.9bn (£1.2bn) in a settlement over a money-laundering probe, say reports, the largest ever in such a case. The UK-based bank was alleged to have helped launder money belonging to drug cartels and states under US sanctions...Last...
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The Economic Times
| 6 months ago
US official who headed sanctions action against drugs traffickers and money launderers to be its head of financial crime compliance, a new role. Europe's biggest bank, expected to be fined $1.8 billion this week as part of a settlement with US...
