Wp-latin-american-and-caribbean-cybersecurity-trends-and-government-responses. 2nd Life and WOW: Detecting Money Laundering and Terrorism Financing Activity...
Crime Money in US Politics - Global. The Scam Wall Street Learned From the Mafia | Politics News. Secret Fed Loans Gave Banks Undisclosed $13B. The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing. The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy.
And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue. Saved by the bailout, bankers lobbied against government regulations, a job made easier by the Fed, which never disclosed the details of the rescue to lawmakers even as Congress doled out more money and debated new rules aimed at preventing the next collapse.
‘Change Their Votes’ The Fed, headed by Chairman Ben S. Drug money saved banks in global crisis, claims UN advisor | World news | The Observer. Drugs money worth billions of dollars kept the financial system afloat at the height of the global crisis, the United Nations' drugs and crime tsar has told the Observer. Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were "the only liquid investment capital" available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result. This will raise questions about crime's influence on the economic system at times of crisis. It will also prompt further examination of the banking sector as world leaders, including Barack Obama and Gordon Brown, call for new International Monetary Fund regulations.
Speaking from his office in Vienna, Costa said evidence that illegal money was being absorbed into the financial system was first drawn to his attention by intelligence agencies and prosecutors around 18 months ago. American Narcos: The Real 'Masters of Paradise' As the body count climbs across Mexico, the drugs continue flowing across the border by the ton. Despite the evident disconnect–a “war” on drugs that increases the supply while lowering the price, in the best tradition of our reigning “free market” ideology–the American media regales the public with fairy tales of heroic “warriors” doing battle with murderous gangsters named “Joaquín,” “Jorge” and “Amado.”
The fact is, more likely than not, the real narcos taking the biggest cut from deep inside the reeking abattoir of the grisly trade have far less prosaic names like “Brett,” “Ethan” or “Jason.” ‘The Only Liquid Investment Capital’ Earlier this month, The Observer reported that “The vast profits made from drug production and trafficking are overwhelmingly reaped in rich ‘consuming’ countries–principally across Europe and in the US–rather than war-torn ‘producing’ nations such as Colombia and Mexico, new research has revealed.”
Selective Prosecutions A case in point. Why? Now that’s juice! Western banks 'reaping billions from Colombian cocaine trade' | World news | The Observer. The vast profits made from drug production and trafficking are overwhelmingly reaped in rich "consuming" countries – principally across Europe and in the US – rather than war-torn "producing" nations such as Colombia and Mexico, new research has revealed. And its authors claim that financial regulators in the west are reluctant to go after western banks in pursuit of the massive amount of drug money being laundered through their systems. The most far-reaching and detailed analysis to date of the drug economy in any country – in this case, Colombia – shows that 2.6% of the total street value of cocaine produced remains within the country, while a staggering 97.4% of profits are reaped by criminal syndicates, and laundered by banks, in first-world consuming countries.
The economists surveyed an entire range of economic, social and political facets of the drug wars that have ravaged Colombia. But no one went to jail, and the bank is now in the clear. How a big US bank laundered billions from Mexico's murderous drug gangs | World news | The Observer. On 10 April 2006, a DC-9 jet landed in the port city of Ciudad del Carmen, on the Gulf of Mexico, as the sun was setting. Mexican soldiers, waiting to intercept it, found 128 cases packed with 5.7 tons of cocaine, valued at $100m.
But something else – more important and far-reaching – was discovered in the paper trail behind the purchase of the plane by the Sinaloa narco-trafficking cartel. During a 22-month investigation by agents from the US Drug Enforcement Administration, the Internal Revenue Service and others, it emerged that the cocaine smugglers had bought the plane with money they had laundered through one of the biggest banks in the United States: Wachovia, now part of the giant Wells Fargo. The authorities uncovered billions of dollars in wire transfers, traveller's cheques and cash shipments through Mexican exchanges into Wachovia accounts. Wachovia was put under immediate investigation for failing to maintain an effective anti-money laundering programme.
Wachovia's Drug Habit. August, 2010 (Bloomberg Markets) -- The bank, now a unit of Wells Fargo, leads a list of firms that have moved dirty money for Mexico’s narcotics cartels--helping a $39 billion trade that has killed more than 22,000 people since 2006. Just before sunset on April 10, 2006, a DC-9 jet landed at the international airport in the port city of Ciudad del Carmen, 500 miles east of Mexico City. As soldiers on the ground approached the plane, the crew tried to shoo them away, saying there was a dangerous oil leak.
So the troops grew suspicious and searched the jet. They found 128 black suitcases, packed with 5.7 tons of cocaine, valued at $100 million. The stash was supposed to have been delivered from Caracas to drug traffickers in Toluca, near Mexico City, Mexican prosecutors later found. Law enforcement officials also discovered something else. This was no isolated incident. ‘Blatant Disregard’ 45,000 Troops Among the dead are police, soldiers, journalists and ordinary citizens. Following Rules. U.S. Imposes Sanctions on 4 International Criminal Groups. How Organized Crime Infested Japan Inc. Rarely in the history of Japan Inc. has there been a more remarkable board meeting. On Nov. 25, the directors of Olympus Corp. gathered at their Tokyo headquarters, their company under siege.
Once a solid international brand, a maker of cameras and medical equipment, the company is now at the center of a global investigation as to whether, and to what extent, its top management was involved in funneling billions of dollars in allegedly illicit payments to offshore accounts. Investigators believe those payments, made for over a decade, may have mostly ended up in the hands of organized criminal groups in Japan. The company denies any yakuza connection, but if one is proved, Olympus will be delisted and almost certainly cease to exist in its current form. At the center of the meeting was Michael C. When Woodford returned to Tokyo for the board meeting (though fired, he was still on the board because of a quirk in Japan's corporate-governance rules), all hell had broken loose.
Evidence Suggests Cover-Up In ATF Scandal, As More Guns Appear At Crime Scenes. Just hours after the death of Border Patrol agent Brian Terry, federal officials tried to cover up evidence that the gun that killed Terry was one the government intentionally helped sell to the Mexican cartels in a weapons trafficking program known as Operation Fast and Furious. The revelation comes just days after a huge shake-up of government officials who oversaw the failed anti-gun trafficking program and Congress renewed its demand for more answers. Also late Thursday, Sen. Charles Grassley's office revealed that 31 more Fast and Furious guns have been found at 12 violent crime scenes in Mexico. In an internal email the day after Terry's murder, Assistant U.S. Attorneys Emory Hurley and then-U.S. Attorney Dennis Burke decided not to disclose the connection, saying "this way we do not divulge our current case (Fast and Furious) or the Border Patrol shooting case.
" Grassley, R-Iowa, and Rep. Issa and Grassley said they want to speak with Hurley and Assistant U.S. Secret service agents sent home after Colombia prostitution allegations | World news. Barack Obama arrived in Cartagena for the Summit of the Americas the day after the secret service agents were sent home. Photograph: Leonardo Munoz/EPA The US secret service, the elite suit and earpiece-wearing bodyguard unit responsible for presidential security, is embroiled in scandal after 12 members were reportedly recalled amid accusations of prostitution in Colombia. The dozen had been among US security officials carrying out intensive preparations ahead of a summit visit by President Barack Obama to Cartagena, a coastal city popular with tourists.
The allegations broke in the Washington Post, which was alerted to the story by Ronald Kessler, a former Post reporter and author of a book on the secret service. Kessler said the secret service agents had been recalled after at least one had become involved with prostitution which is legal in some areas of the city. Last summer a secret service agent was arrested for drink-driving in Iowa after Obama paid a visit to the state.