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(The New York Times)   Justice Department is shocked, SHOCKED to find out JPMorgan Chase and Bank Of America are laundering money for terrorists and drug cartels   (nytimes.com) divider line 13
    More: Obvious, JPMorgan Chase & Co., Bank of America, U.S. Bancorp, Justice Department, inquiries, United States, Standard Chartered, Comptroller of the Currency  
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2452 clicks; posted to Business » on 15 Sep 2012 at 3:12 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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Archived thread
2012-09-15 04:56:55 PM  
2 votes:
Laundering? fark, they probably ARE the cartels.
2012-09-15 02:44:58 PM  
2 votes:
1.bp.blogspot.com
2012-09-15 02:44:48 PM  
2 votes:

Chevello: Remember kids, downloading music or movies, using drugs or doing business with these financial institutions gives money to TERRURISTS!


I hate to point it out, but as long as drugs* remain illegal, using drugs *does* help enrich some really shiatty people/organizations, some of which goes to terrorist groups (especially opiate-based illegal drugs).

Not that it *should* be that way -- drugs should be legalized, in part to help minimize said enrichment... THAT SAID, SMOEK WHUT U GOT

*recreational
2012-09-15 12:39:16 PM  
2 votes:
Shocked, but not Gitmo shocked.

When you start executing the terror funders, then you have begun fighting the war.
Until then, you are just poking at the rising bubbles in your bathwater.
2012-09-15 11:10:52 AM  
2 votes:
Remember kids, downloading music or movies, using drugs or doing business with these financial institutions gives money to TERRURISTS!
2012-09-15 07:00:56 PM  
1 votes:
It's estimated that close to a trillion dollars in illegal drug money is laundered thru US banks each year. A lot of that money is laundered by the CIA. Much of it ends up in the stock market. Win the drug war and our economy will collapse. Well, it's going to collapse anyways, but that would make it even worse.
2012-09-15 04:32:32 PM  
1 votes:

Nofun: Looks like the banks are being investigated for not following proper security protocols, which led to some past events that went on under their noses (Mexican drug cartels and Iranian transactions are named in TFA). This is really an IT shortcoming, but I'm glad they're being investigated. No one is going to spend millions on upholding regulations and implementing IT systems if the enforcement isn't there.


Sure, blame it on IT. Except IT doesn't make the rules on how those types of transactions are monitored and tracked. That's the responsibility of IA, Risk and Compliance. Other departments make the rules, IT implements them. Now if IT was told to create the programs to that would be used to make sure that the regulations weren't followed and didn't, or made faulty programs, that's something else. But it's not the geeks fault yet.
2012-09-15 04:02:20 PM  
1 votes:

gameshowhost: Chevello: Remember kids, downloading music or movies, using drugs or doing business with these financial institutions gives money to TERRURISTS!

I hate to point it out, but as long as drugs* remain illegal, using drugs *does* help enrich some really shiatty people/organizations, some of which goes to terrorist groups (especially opiate-based illegal drugs).

Not that it *should* be that way -- drugs should be legalized, in part to help minimize said enrichment... THAT SAID, SMOEK WHUT U GOT

*recreational


True, true and yet..so true.
2012-09-15 03:37:17 PM  
1 votes:
Call me when they freeze the bank's assets.
2012-09-15 03:32:49 PM  
1 votes:
FTFA: Federal and state authorities are investigating a handful of major American banks for failing to monitor cash transactions in and out of their branches, a lapse that may have enabled drug dealers and terrorists to launder tainted money...

Oh, they monitor their transactions alright. The bank computers probably keep banks more on top of things than the individuals or companies using them.

AbbeySomeone: This is just an excuse to get into everyone's banking info.


Yep, I can see that. This sounds like a bank shakedown but not one intended to benefit all of us.
2012-09-15 12:34:56 PM  
1 votes:
This is going to be a terrible inconvenience for the executives. They might have to spend an entire morning testifying instead of eating brunch with their friends. That's just terrible.
2012-09-15 11:36:46 AM  
1 votes:
If you still believe that for-profit banks are really misunderstood and are not actual criminal organizations, then perhaps you should be tested for mental impairment.
2012-09-15 11:32:03 AM  
1 votes:
This reminds me, I really need to stop being lazy and move into a credit union. I hate Chase.
 
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