NEW YORK, – Federal and state authorities are investigating U.S. banks failed in their rules against money laundering, which would have allowed transactions of terrorists and drug traffickers, today unveiled The New York Times.
The move could be “more aggressive campaign against money laundering in decades, with the intention of sending a signal to the nation’s largest banks that weak enforcement of the law is unacceptable,” the newspaper said Saturday in his electronic version.
Officials who expressed an opinion on the condition not to be named said that, under the leadership of the Office of the Comptroller of the Currency in New York, the government is to take action against the bank JP Morgan Chase.
Authorities are investigating further into Bank of America.
JP Morgan is under fire from the authorities because he was charged last year to transfer money to Cuba and Iran in violation of U.S. sanctions against these countries.
The money laundering investigations are multiplying because, according to experts, the authorities have already solved many of the problems with the banking system arising from the recession that began in 2008.
Until now, investigations have focused on European banks.
Furthermore, investigations may force lawmakers’ to have concerns that illicit money is part of the U.S. financial system.
Experts suggest, however, that violations of the anti-laundering mechanisms money are largely unintentional errors and often have no consequence because they are exploited by criminals.
Just last July, the Senate HSBC accused of exposing the U.S. financial system to transactions carried out by terrorists and drug traffickers.
Also, according to documents filed in court in Texas, the Mexican drug cartel Los Zetas operated two accounts at Bank of America that allowed them to launder money from the sale of cocaine in the U.S. and investing in horse racing.
- JPMorgan Being Investigated for Money Laundering (theatlanticwire.com)
- Report: US banks subject of money-laundering probe (kansascity.com)
- Report: US banks subject of money-laundering probe (newsobserver.com)
- Report: US banks subject of money-laundering probe (miamiherald.com)