To say that Citibank has had more than its share of problems would be an understatement. In May, for instance, the bank agreed on a 2.65 billion settlement with investors who bought stock and bonds in WorldCom before it filed for bankruptcy. Later that month, the Federal Reserve fined the bank 70 million for abuses in personal and mortgage loans to low-income and high-risk borrowers. In June, Citigroup suspended two executives in China, citing them for presenting false financial information to Chinese regulators and to the bank itself. In August, British regulators began an investigation of a 13.5 billion bond trade that was executed by Citigroup. Then, in September, Japan ordered Citigroup to close its private banking unit there for, among other things, failing to guard against money laundering. That was apparently the last straw for CEO Charles Prince. After a very public apology to the Japanese people, Prince set about on a daunting task -- changing the corporate culture of the financial giant. Is it possible Yes, ... But it's not probable. There's very little meaningful change that can go on in an organization because of past investments, taken-for-granted assumptions, vested interests in the status quo, inertia and other deeply rooted factors.
Quotes about laundering (16 Quotes)
The expansion in the coverage of said declaration was proposed by the Anti-Money Laundering Council in order to comply with the Financial Action Task Force's Special Recommendation IX, which requires countries to have measures in place, including a declaration system or other disclosure obligation.
Drug traffickers benefit from the paramilitary skills, the access to weapons and links to other clandestine groups that terrorists can provide. Terrorists, for their part, gain a source of revenue and expertise in money laundering from drug traffickers,
As a state-owned entity with inadequate money laundering and terrorist financing controls, the Commercial Bank of Syria poses a significant risk of being used to further the Syrian Government's continuing support for international terrorist groups. The serious risks posed by CBS have not been adequately mitigated by the Syrian Government's limited efforts to address deficiencies in Syria's financial system.
Since the money laundering statute and the conspiracy statute are both parts of the penal code, no reasons appear why conspiracy to money launder would not be an offense, and this court holds that it is, and was in 2002.
We want to help our private sector counterparts at home and abroad implement coordinated and targeted anti-money laundering and counter-terrorist financing programs that are consistent with international standards.
Attacking the profits of offences such as drug trafficking, money laundering and people smuggling is attacking both the motivation and ability to commit further serious crime,
We are taking collectively very big decisions -- for (powers of) arrest, for money laundering -- in all the chapters where we need new cooperation against terrorists,
We followed the money around the globe and into the hands of major Colombian drug traffickers, ... We've shown the black market peso exchange for what it is -- the largest known drug-money laundering mechanism in the Western Hemisphere.
I can assure you that Mr. Simpson doesn't have enough cash in his pocket or in his bank account to ever be involved in any type of money laundering,
You get to a point where it gets very complex, where you have money laundering activities, drug related activities, and terrorist support activities converging at certain points and becoming one.
Caring for others is accomplished by a dazzling array of skills in an endless variety of circumstances. As well as cooking, shopping, cleaning, laundering, planting, tending, harvesting for others, women comfort and guide, nurse and teach, arrange and advise, discipline and encourage, fight for and pacify. Taxing and exhausting under any circumstances, this service work, this emotional housework, is done both outside and inside the home.
The clampdown on money laundering and corruption is the common responsibility of all the countries in the world.
It charged that Mr. Newman had falsely and maliciously written in his 2004 autobiography, Here Be Dragons Telling Tales of People, Passion and Power, ... engaged in a wide range of criminal acts spanning many years, including mail and wire fraud, interstate transportation of stolen property and money laundering.
We are very sure that there are donors or interests that are putting money illegally, laundering money, business money, exceeding the contribution, using fake names.
The bank fully complies with Hong Kong's laws and regulations and has checks in place to prevent money laundering and other illegal activities.