Exclusive: Zooming in on the billions of pounds in criminal cash flowing through the City

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City AM

By Michiel Willems Going back more than a decade, in the summer of 2012, HSBC was fined $1.9bn for inadequate compliance and anti-money laundering control processes. The banking giant was found guilty of providing money laundering services to drug cartels as well as terrorist groups in the Middle East. Ten years on, money laundering is still a serious problem. Less than a year ago, NatWest reluctantly admitted it had failed to properly monitor £365m when it was deposited into a customer’s account. The case was widely seen as another major victory for the City’s financial watchdog – the Financi…

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