UK banks ‘handled’ $740m in laundered Russian money
Arab News, 22 March 2017
LONDON: Several British banks allegedly processed nearly $740 million in a multi-billion dollar Russian money-laundering scam, The Guardian newspaper reported on Monday.
According to documents obtained by the Organized Crime and Corruption Reporting Project, at least $20 billion was moved out of Russia between 2010 and 2014 in a vast criminal operation called “The Global Laundromat.” The scam involved over 500 people including oligarchs and Russian criminals with links to the government and the domestic intelligence agency, the FSB. Continue reading “Article: UK banks ‘handled’ $740m in laundered Russian money”
Currency trading scandals are the next big black eye for banks
Mark DeCambre, Jason Karaian
Quartz, 5 February 2014
These days, it doesn’t take much digging to find potentially scandalous behavior coursing through the world’s biggest banks. But the latest round of probes into currency trading are shaping up to be a real doozy.
Already more than 20 traders, which make money for their firms by betting on currencies’ shifting values, have left or been placed on leave by their employers. These banks and traders have not been accused of wrongdoing, but their departures send a message that something is amiss in currency trading.
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The Federal Reserve Bank is Naked: QE 10T Dollar ‘Loans’ Swaps and Naked Mortgage Bonds of Quantitative Easing 1
Economics Voodoo, 28 December 2012
The banking and financial crisis emerging in September 2008 is often called a global financial crisis, but to be more precise the data point to a crisis of the Western central banks. I referenced euros previously, so this is the euros companion to Quantitative Easing 0-1-2-3∞ & The Federal Reserve’s Love Affair with its Banks and Mortgage Bonds: Levitating The Black Hole. QE 0-1-2-3 is incomplete as concurrently the Federal Reserve Bank also entered into $10.06 Trillion in dollar ‘loans’ liquidity swaps with foreign central banks that we examine in Section I. Why QE $10T as we look at a few of Europe’s largest banks in Section II, which leads us to the $1.25 Trillion naked reasons behind the Federal Reserve Bank’s Quantitative Easing I purchase of phantom agency mortgage bonds that we revisit more closely in Section III.
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