Among the toasts at Adam Kaufmann's "retirement" party last week was one by a speaker who credited him with turning a bounced check into more than a billion dollars in penalties that have been shared by the city and state of New York over the past four years.
New disclosures about one of the largest ever scandals tying a bank to money laundering and terrorist financing will prompt some financial institutions to reassess their clients, say compliance officials.
The New York District Attorney's Office has hired a prominent U.S. Justice Department official to head a new bureau established to investigate financial fraud, bribery, terrorist financing and money laundering.
A top BCCI investigator spoke with reporter Larissa Bernardes about some of the complex money laundering schemes he encountered during his undercover work.
Word that a large penalty against a foreign bank committing sanctions violations is set to be announced is stoking more than just concern among other financial institutions. It's stoking rumor.
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