Tag: money laundering

In the Netherlands, we used to look on the international “war on drugs” with a certain amount of disdain. Its solutions were prohibition, criminalisation, stiff penalties and sentences; our national ...

U.S. law enforcement officials say Chinese “money brokers” represent one of the most worrisome new threats in the war on drugs. Small cells of Chinese criminals have upended the way narcotics cash is ...

Only a handful of the tens of thousands of annual reports of suspected money laundering end up in court case because watchdog staff lack IT expertise. Some 155,000 cases of possible fraud were brough ...

Europeans spent at least 11.6 billion euros (£9.9 billion) in 2017 on illegal cannabis purchases, confirming marijuana as the largest drugs market in the 28-country European Union, the European Monit ...

‘Taking stock: A decade of drug policy’ evaluates the impacts of drug policies implemented across the world over the past decade, using data from the United Nations (UN), complemented with peer-revie ...

European Union nations may boast the world's most stringent anti-money laundering rules, but recent scandals show that criminals are good at exploiting the bloc's Achilles' heel: A patent lack of coo ...

The Caricom Regional Commission on Marijuana has labelled existing regional marijuana laws as draconian and one which carries with it inappropriate criminal penalties. Indicating its unanimous positi ...

Britain’s overseas territories are to be forced to adopt public registers of company ownership by the end of the decade. That’s a step in the right direction – and one many of us have long been calli ...

Dutch lender Rabobank’s California unit agreed to pay $369 million to settle allegations that it lied to regulators investigating allegations of laundering money from Mexican drug sales and organized ...

A former U.S. manager for Dutch banking giant Rabobank Groep says he helped hide possible criminal activity by clients and is assisting U.S. prosecutors in a long-running investigation of whether the ...

The pharmacies selling pot were doing a brisk business. After Uruguay became the first country in the world to fully legalize marijuana sales for recreational use last month, some of the pharmacies s ...

The legal sale of marijuana in Uruguayan pharmacies is facing challenges as banks refuse to deal with companies linked to the drug in order to follow international financial laws. Uruguayan banks ris ...

With recreational use set to become legal next year under Proposition 64, cannabis sales in the state are expected to top $7.5 billion in 2020, up from about $3.3 billion last year, according to data ...

Marijuana businesses can’t openly bank and congressman Ed Perlmutter, D-Colo., is hoping to change that. Perlmutter on Thursday introduced the Secure and Fair Enforcement Banking Act (SAFE Banking Ac ...

Documents from global law firm Mossack Fonseca leaked to journalists have linked the firm to two alleged money launderers and drug traffickers tied to notorious Mexican drug lord Joaquín "El Chapo" G ...

Families of U.S. citizens murdered by drug gangs in Mexico sued HSBC Holdings Plc, claiming the bank can be held responsible for the deaths because it let cartels launder billions of dollars to opera ...

The City of London is the money-laundering centre of the world's drug trade. UK banks and financial services have ignored so-called "know your customer" rules designed to curb criminals’ abilities to ...

A money-laundering investigation as big as the bank itself ended with a deferred prosecution agreement that allowed HSBC to escape criminal charges and suffer only a fine. This while the US Departmen ...

The Obama administration issued guidelines intended to give banks confidence that they will not be punished if they provide services to legitimate marijuana businesses in states that have legalized t ...

Legal marijuana merchants — mainly medical marijuana outlets but also, starting this year, shops that sell recreational marijuana in Colorado and Washington — are grappling with a pressing predicamen ...

In July 1989, the leaders of the economic powers assembled at the G7 Paris summit decided to establish a Financial Action Task Force (FATF) to counter money laundering as an effective strategy agains ...

Appearing at a Senate Banking Committee hearing, Sen. Elizabeth Warren (D-MA) grilled officials from the Treasury Department over why criminal charges were not filed against officials at HSBC who hel ...

A settlement deal with the British banking giant HSBC is the ultimate insult to every ordinary person who's ever had his life altered by a narcotics charge. Despite the fact that HSBC admitted to lau ...

While cocaine production ravages countries in Central America, consumers in the US and Europe are helping developed economies grow rich from the profits, a study claims. The vast profits made from dr ...

"Wachovia's blatant disregard for our banking laws gave international cocaine cartels a virtual carte blanche to finance their operations," said a federal prosecutor. Yet the total fine was less than ...