Soldato
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Like I said on multiple fronts.. par for the course! 
Bank fined for being hilariously sloppy about its money laundering.
- Thread starter Angilion
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Sensitive? Not at all
Angilion is a big boy who can defend himself although, should he respond, you might be there a while reading it
I don't need to look at Google as I know what money laundering is but some may not and would have welcomed your wisdom on it rather than just a "you're wrong" type post.
Deleted User 298457
Deleted User 298457
Riddle me this then, how come in Lethal Weapon the money was in tumble dryers?
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Sensitive? Not at all
Angilion is a big boy who can defend himself although, should he respond, you might be there a while reading it
I don't need to look at Google as I know what money laundering is but some may not and would have welcomed your wisdom on it rather than just a "you're wrong" type post.
Ok mate
https://www.investopedia.com/ask/answers/022015/what-methods-are-used-launder-money.asp
Soldato
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Angilion is a big boy who can defend himself although, should he respond, you might be there a while reading it
Absolutely!
Again, just in case you are semi-serious: You need to watch the movie again, they were trying to make counterfeit bills look legit
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The first sentence in the source you gave directly contradicts your argument that money laundering is not constructing a fake legal explanation for the source of the money:
Did you think nobody would bother clicking on the source you gave and reading even just the first sentence? I'm well aware many people nowadays are reluctant to read more than a few words at a time, but you shouldn't rely on that because it's not true for everybody. Besides, you were relying on everyone being reluctant to read even just a few words.
And yes, I'm aware that money laundering is sometimes used to disguise illegal transfers of money initially obtained legally. But the illegal transfer is still a crime and it means that the money is illegally obtained at the destination. So the laundering is still metaphorically cleaning the crime off the money by constructing a fake legal explanation for the source of the money.
If you think otherwise, feel free to say what else money laundering is. Preferably not with a link to a page that directly contradicts you in the first sentence. That's so sloppy that it would apparently serve you well as a job application to work in a bank's money laundering system.
Part of what I do as a living is anti money laundering checks.
I'm telling you big banks don't give a ****, they say they do but they don't. They'll do just enough to satisfy the regulators and "be seen" to be doing what they are supposed to, but believe me they don't give a ****.
I'm telling you big banks don't give a ****, they say they do but they don't. They'll do just enough to satisfy the regulators and "be seen" to be doing what they are supposed to, but believe me they don't give a ****.
To be fair... why should they? As you say, as long as they negate any impact on themselves (re: regulator fines etc.) there's no incentive or need for them to bother.
I disagree with @Angilion on loads of social issues, and can hardly be considered his boyfriend, but he is entirely accurate… and you’ve literally quoted a source that backs him up. Care to explain how he isn’t accurate?
Which is exactly why criminal charges should be levied against the managers of said banks. Then they might take some responsibility for what their banks are doing.
But... why should they? And what exactly are their banks doing that would warrant a criminal charge?
Money laundering is illegal, aiding and abetting / proceeds of crime / Encouraging or assisting a crime (im not a lawyer so don't know how to officially describe it), but according to wikipedia, its illegal under the Serious Crime Act 2007
Well, yes. But did they not simply provided the same banking service they do for everyone? Unless I've missed some part of this story...
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As if all banks don’t do this lol most of them don’t get caught.
But they won't. These people are smart.
So as a senior manager, you need to have all of the controls in place, training etc. But those senior managers are not the ones processing these transactions.
I was looking at account whilst the person who normally looks after it, who also happens to be one of the senior managers husband (we call him the bosses wife) was on annual leave.
Within the two weeks, falsified income documents, hundreds of thousands, millions on some, being layered through property through several limited companies, with deposits being funded by loans from other companies all this shenanigans where it's really difficult to check.
Raised it to the fraud guys, who checked with some other banks and some of it was 100% fruad.
So when the guy came back from annual leave, the fruad team were apparently "too busy" to do a proper investigation, so guess who they got to it? That's right, the bosses wife ......
Basically I'm just glad I don't need to go anywhere near that again.
Isn't it an open secret Europe is money laundering paradise for crims? Especially Russian money in Eastern Europe & London.
It's got to be sophisticated though, not bin bag stuff, otherwise the right parts of the economy isn't being greased, eg property via some offshore shell company.
It's got to be sophisticated though, not bin bag stuff, otherwise the right parts of the economy isn't being greased, eg property via some offshore shell company.
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Loopholes are there for a reason. 
