Top bankers accused of avoiding responsibility for stopping money laundering
Relatively junior bankers, rather than senior bosses, often make decisions on which clients their institution should deal with – which means if they turn out to be laundering money, the bank does not get the blame CREDIT: STEFAN ROUSSEAU/PATim Wallace
Senior bankers are dodging responsibility for stopping money laundering, senior crime fighters suspect, to avoid them or their banks suffering the consequences if clients turn out to be crooks.
Tougher laws could help the authorities hold finance companies liable for enabling laundering, but currently they struggle to pin the blame on institutions involved.
Mark Thompson, interim director of the Serious Fraud Office, told MPs top bankers may be deliberately avoiding making any decisions which could come back to haunt them later.
He said the Treasury select committee should consider “whether it is possible that senior figures in the banks avoid being involved in these decisions".
“If you really...
www.fotavgeia.blogspot.com
Relatively junior bankers, rather than senior bosses, often make decisions on which clients their institution should deal with – which means if they turn out to be laundering money, the bank does not get the blame CREDIT: STEFAN ROUSSEAU/PATim WallaceSenior bankers are dodging responsibility for stopping money laundering, senior crime fighters suspect, to avoid them or their banks suffering the consequences if clients turn out to be crooks.
Tougher laws could help the authorities hold finance companies liable for enabling laundering, but currently they struggle to pin the blame on institutions involved.
Mark Thompson, interim director of the Serious Fraud Office, told MPs top bankers may be deliberately avoiding making any decisions which could come back to haunt them later.
He said the Treasury select committee should consider “whether it is possible that senior figures in the banks avoid being involved in these decisions".
“If you really...
www.fotavgeia.blogspot.com
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