Is the Vatican Bank finally fighting money laundering for real?

The Holy See’s new financial watchdog just announced six incidents of possible monetary malfeasance from last year. The Vatican has been trying to shed its image as a murky financial center since at least 1982.

Rene Bruelhart, the head of the Vatican’s new Financial Intelligence Authority, disclosed Wednesday that he had found six incidents of possible money laundering in the Vatican Bank from last year — marking the first step in what may be a new era of transparency for the scandal-stained institution…article

Vatikan geht bei Geldwäsche härter vor
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Is the Vatican Bank finally fighting money laundering for real?

Is the Vatican Bank finally fighting money laundering for real?

 

DHS freezes largest Bitcoin Exchange’s Dollar Account

The Department of Homeland Security DHS) is investigating Mt. Gox, the largest Bitcoin exchange, for violating laws on US money exchange and money transfers. It seized the bitcoin exchange’s U.S. dollar account with Dwolla.

The seizure of the funds was triggered by an alleged failure of the company to comply with U.S. financial regulations, according to a federal court document provided by a spokeswoman for the U.S. Immigration and Customs Enforcement (ICE), the investigative arm of the DHS.

In April 2013 the National Credit Union Administration (NCUA) had warned the credit unions to beware of the emerging money laundering risks from the MSBs…US vs Mt. Gox Warrant

DHS freezes largest Bitcoin Exchange's Dollar Account

High-Speed Traders’ Campaign Contributions Shot Up 673 Percent From 2008 to 2012

According to a report from Washington-based nonprofit watchdog Citizens for Responsibility and Ethics in Washington (CREW) the campaign contributions by 48 high-frequency trading firms have skyrocketed 673 percent since 2008,

These traders contributed $16.1 million during the 2012 election cycle, up from just $2.1 million in 2008. That’s not including the 93 percent spike in funds spent on lobbying Congress, the Securities and Exchange Commission, and the Commodity Futures Trading Commission since the recession.

The report exemplifies risk of pressure lobbying on politics and raises the question of the distinction between lobbying, bribery and corruption…CREW Lobby Report 

original designed, Yonatan Frimer, Maze

original designed,
Yonatan Frimer, Maze

 

W-T-W Finance Honor Roll

W-T-W explores issues effecting women and finance. Corruption is a major problem, particularly for women and their children, as trillions of dollars of public funds are drained by corrupt practices around the world.

Corruption disproportionately effects women and children.  By diverting money legitimately owed to governments, local and national, the public good is diminished.   Honor women who stand up and fight for their children’s education and general well-being.

W-T-W wants to encourage women networks around the world to Honor Roll women who fight corruption.

When people hear you blowing the whistle, they balk.  They make life tough. So those who stand up, stand out and fight for what’s right should be honored.

A woman’s intuition is her strongest tool.  If you sense something, probe.
WOMEN INTEGRITY AWARDS

How can women work against corruption?
If you see something, say something!

How can women work against corruption? If you see something, say something!

Cobrapost alleges money laundering by 23 Indian banks and insurers

The independent investigative website Cobrapost accused as many as 23 public and private sector banks and insurance companies of “running a nation-wide money laundering racket, blatantly violating laws of the land”. The second sting operation alleged that the irregularities in India’s financial institutions is a systemic problem….Coprapost

According to Coprapost, the sting operations have revealed violation of several provisions of the Income Tax Act, FEMA, RBI regulations, KYC norms, the Banking Act, said Bahal.

Those named in the expose include SBI, LIC, Punjab National Bank (PNB), Bank of Baroda, Canara Bank, Reliance Life, Tata AIA, Yes Bank, Indian Bank, Indian Overseas Bank, IDBI Bank, Oriental Bank of Commerce, Dena Bank, Corporation Bank, Allahabad Bank, Central Bank of India, Dhanlaxmi Bank, Federal Bank, DCB Bank and Birla Sun Life. Cobrapost alleges money laundering by 23 Indian banks and insurers