Wachovia settled the biggest action brought under the US bank secrecy act, through the US district court in Miami. Now that the year's "deferred prosecution" has expired, the bank is in effect in the clear. It paid federal authorities $110m in forfeiture, for allowing transactions later proved to be connected to drug smuggling, and incurred a $50m fine for failing to monitor cash used to ship 22 tons of cocaine.
Sunday, June 5, 2011
How a big US bank laundered billions from Mexico's murderous drug gangs : Information Clearing House: ICH
How a big US bank laundered billions from Mexico's murderous drug gangs : Information Clearing House: ICH
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