BIG BANKS CITED FOR WEAK MONEY LAUNDERING PROTECTIONS
- US regulators have ordered banking giant JP Morgan Chase to revise its money laundering protection systems, which they said contained "deficiencies" that could leave the bank vulnerable to use by criminal groups.
The Federal Reserve and the Office of the Comptroller of the Currency released parallel orders against the bank on Monday, citing a pattern of faulty risk management that left JP Morgan with a $6 billion trading loss last year.
JP Morgan is the second major bank the US government has targeted for insufficient money-laundering protections in recent months. The British bank HSBC paid a $1.9 billion fine in December after an investigation by the Justice Department found it had laundered $881 million for drug cartels in Mexico and Colombia.
Speaking on the JP Morgan Chase case, University of Maryland Law School professor Michael Greenberg told NPR's Jim Zarroli Tuesday that while the move was promising, it did not go far enough. "It's a step in the right direction. But overall...these banks are getting away with what amounts to traffic tickets to the rest of us."
https://reportingproject.net/occrp/index.php/en/ccwatch/cc-watch-briefs/1791-big-banks-cited-for-weak-money-laundering-protections-
BIG BANKS CITED FOR WEAK MONEY LAUNDERING PROTECTIONS
US regulators have ordered banking giant JP Morgan Chase to revise its money laundering protection systems, which they said contained "deficiencies" that could leave the bank vulnerable to use by criminal ...TREACHEROUS TRAVEL: VANADZOR MUNICIPALITY'S INADEQUATE SNOW REMOVAL EFFORTS
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This is the last article penned by Hrant Dink. It appeared in the January 10, 2007 edition of AGOS, nine days before Hrant was murdered outside the AGOS office in Istanbul.
I did not at first feel troubled ...LONDON: TURKISH EMBASSY STAFF ATTACK DINK PROTESTORS
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BIG BANKS CITED FOR WEAK MONEY LAUNDERING PROTECTIONS
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- 1868 Birth of the national public figure and diplomat Tigran Kelekyan in Caesaria. The Shah of Persia awarded him the title of Khan and appointed him ambassador in the USA. After the Genocide of the Armenians by the Turks in Adana (1909), he founded the Kelekyan Orphanage. He also assisted Matisse, Picasso, Braque, and the Ladies' School Assistance Committee.
- 1870 Birth of actor Grigor Avetian. He died in 1946.
- 1910 Birth of Hrachia Kochar (writer). He died in 1965.
- 1918 The "Word of the Worker" newspaper is published in Baku.
- 1920 The First Conference of Armenian Communist Organizations takes place in Yerevan.
- 1920 The Paris Peace Conference recognizes, de facto, the Republic of Armenia.
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