money laundering

• Former Borinquen FCU CEO Gets At Least Seven Years in Prison

  By Peter Strozniak  |  January 25, 2013

  Cocaine, money laundering convictions net jail time for Ignacio Morales. Former Philadelphia credit union CEO also ordered to re-pay $9.6 million.

• HSBC Bank Agrees to Historic $2 Billion Settlement

  By Heather Anderson  |  December 11, 2012

  Big bank accommodated money flow for Mexican drug traffickers, allowed customers to conduct business with sanctioned countries, including Iran.

• Guilty Plea for Cleveland Businessman in St. Paul Croatian Case

  By Peter Strozniak  |  November 7, 2012

  Another guilty plea this week in St. Paul Croatian FCU fraud case; former CEO faces sentencing Nov. 20.

• New Regulatory Scrutiny: Not Just a Big Bank Problem

  By Maleka Ali  |  September 24, 2012

  Consultant has been to many institutions of various sizes recently where examiners have written then up for not doing enough.

• Money Laundering Comes to the Fore After HSBC

  By Robert McGarvey  |  August 12, 2012

  Money laundering and the steps financial institutions have to take to monitor it and prevent it are back in the news thanks to well-publicized missteps by banking giant HSBC.

• Global Money Laundering Rules Should Scale to Credit Unions: World Council

  By Marc Rapport  |  April 4, 2012

  WOCCU representatives were in Paris this week for a meeting of the international Financial Action Task Force.