Money laundering the most lucrative banking business: The big American and European banks are making really b...

The big American and European banks are making really big money in money laundering and fraudulent banking practices or selling questionable derivatives and products. Money laundering seems to be the most profitable business for many banks. And they have been fined handsomely by the US Federal Courts to the tune of billions. The total came to US$150b by some 10 big banks, including BoA, Citi, JP Morgan, Wells Fargo, BNP, Deutsche, Credit Suisse, UBS, Barclay and HSBC to name a few. These banks are willing to pay the fines happily, for good reasons, as none of their CEOs were found guilty, or would be found guilty, or made accountable for the offences. The banks continue to run as per normal, and so were the employments of the CEOs, all sitting tight and happily as if nothing had happened. Surely they did not know the banks were involved in money laundering. With such latit...

Full article: http://mysingaporenews.blogspot.com/2016/07/money-launder...

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