May 29th, 2012
Former Wachovia Bank Anti Money-Laundering Officer, Martin Woods, discusses how Wachovia, Bank of America, and other large banking institutions sustain Mexican drug cartels. Woods left his position at Wachovia due to negative responses from Wachovia officials to Woods’ investigations of Mexican cartel money laundering within the institution.
November 15th, 2010
Global Financial Integrity Applauds Shareholder Initiative
WASHINGTON, DC--Global Financial Integrity (GFI) applauds Harrington Investments, Inc.’s decision to file shareholder resolutions with Citigroup, Bank of American and JPMorgan Chase, calling for the adoption of a policy position addressing the systemic use of the U.S. financial system to both shelter illicit funds and transfer them internationally.
The shareholder resolution follows a difficult year in which we saw Wachovia Bank sanctioned for laundering millions of dollars for South American drug cartels, HSBC agreeing to sanctions from the U.S. Comptroller of the Currency for failure to maintain adequate anti-money laundering programs, and the...
July 6th, 2009
ZURICH (Dow Jones)--U.S.-based Bank of America Corp. (BAC) knocked Switzerland's UBS AG (UBS) off the top spot as the world's largest private-banking group, while the industry which manages the wealthy's funds saw assets shrink by an estimated $2.9 trillion last year, according to an expert study presented Monday.