Current Edition About Subscribe The Jerusalem Center

Daily Alert Archive

Every Daily Alert Since 2002

Search

Search more than 90,000 news items by topic, author, or source.
Use " " to search for multiple words and phrases.

Trending Topics

July 20, 2012       Share:    

Source: http://www.foxnews.com/politics/2012/07/17/bank-lax-control-let-drug-cartels-launder-billions-through-us-senate-probe/

Senate Report: European Bank Exposed U.S. Financial System to Iran

(Fox News) A report released Tuesday by the U.S. Senate Permanent Subcommittee on Investigations charged that Europe's largest bank, London-based HSBC, exposed the U.S. financial system to potentially illicit transactions involving Iran and other countries as well as money laundering by Mexican drug cartels. Two affiliates for years sent thousands of transactions through the bank's key U.S. affiliate, HBUS, "without disclosing links to Iran" even though they were supposed to. For that period from 2001 to 2007, an auditor so far has uncovered nearly 25,000 such transactions involving billions of dollars.

View the full edition of Daily Alert

Back to Archive

Subscribe to Daily Alert: