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Correspondent Banking - A Gateway For Money Laundering

ByImpactAML-INX3 Financial Press

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U.S. banks, through the correspondent accounts they provide to foreign banks, have become conduits for dirty money flowing into the American financial system and have, as a result, facilitated illicit enterprises, including drug trafficking and financial frauds. This report, reproduced here, summarizes a year-long investigation by the Minority Staff of the U.S. Senate Permanent Subcommittee on Investigations, under the leadership of Ranking Democrat Senator Carl Levin, into correspondent banking and its use as a tool for laundering money. It is the second of two reports compiled by the Minority Staff at Senator Levin’s direction on the U.S. banking system’s vulnerabilities to money laundering.

Details

Publication Date
Oct 17, 2008
Language
English
Category
Business & Economics
Copyright
All Rights Reserved - Standard Copyright License
Contributors
By (author): ImpactAML-INX3 Financial Press

Specifications

Pages
300
Binding
Paperback
Interior Color
Black & White
Dimensions
US Letter (8.5 x 11 in / 216 x 279 mm)

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