The Stolen Money Trail
Earlier this month, Swiss bank regulators found that four Swiss banks had not done enough to identify dictators’ assets they held. Earlier this year, Britain’s Financial Services Authority investigation into London banks found that three quarters of them were not doing enough to verify the sources of some customers’ wealth.
These probes shed some light on a system that is failing to stop the flow of corrupt money, a problem that continues to have disastrous consequences for millions of people. Neither regulator, however, has named the banks that have fallen afoul of the rules, nor given any indication they will do so.… Seguir leyendo »