Thursday, March 24, 2016

Empty Debates, U.S.-BRITS MONEY-LAUNDERING EMPIRE, Western assault on BRICS.

March 22, 2016 Blog… PART 2

Empty Debates, U.S.-BRITS MONEY-LAUNDERING EMPIRE, Western assault on BRICS.

Today is part 2 on the U.S. Money-Laundering Empire. The timing of this article seems impeccable with a new scandal in the $ 100-M Bangladesh national fund hacking heist naming some Chinese hackers and the involvement of major Philippine banks RCBC and the Import-Export Bank.

The news today is the announcement of the Bangladesh government that it is filing a suit against the U.S. Federal Reserve Bank of New York… Dhaka accuses the New York Fed of failing to prevent its money from being stolen by Chinese hackers.

Now we know that the fund taken in the ultra-high tech hacking heist was deposited with the New York Fed, although the Fed denies it is responsible the Bangladesh government has no doubt about it:

"Bangladesh's Finance Minister AMA Muhith said…. We've heard that Federal Reserve Bank of New York has completely denied their responsibility. They don't have any right,… Of course, we'll file a case against them. We have kept the money with them. They are responsible,…"

The AlJazeera report we cll this from reported, "…at least 30 transfer requests were made on February 5 using the Bangladesh Bank's SWIFT code, out of which five succeeded in effecting transfers." And quotes Economist Mamun Rashid, who previously headed Citibank NA in Bangladesh,.. "Bangladesh is a client of the Federal Reserve Bank. They must take the responsibility for this incident,…

If in the process of the Bangladesh case filed against the Fed the complicity of U.S. elements are discovered, nobody should be surprised because the U.S.is one of the most corrupt societies and its financial system rotten to the core – and often due to its intertwining mission with the American geopolitical operations against other countries.

At the onset of the Bangladesh national fund hacking heist I recalled one of the greatest money-laundering operations in relatively recent history. It is important to recall for the public record because the generations that came after us the Baby Boomers should know all these in order not to be fooled by Western propaganda touting itself as the guardians of honest banking practices.

That greatest money-laundering operation was organized by the CIA, and anyone can read the comprehensive account of this in the 1991 report by a team of reporters entitled "B.C.C.I. The dirtiest Bank of All" with Cathy Booth, Jay Branegan and Helen Gibson working from Miami, Hong Kong and London respectively.

The several thousand words report starts with quotes from sources of the journalists:

"I could tell you what you want to know, but I must worry about my wife and family - they could be killed."
-- a former top B.C.C.I. officer

"We better not talk about this over the phone. We've found some bugs in offices that haven't been put there by law enforcement."
-- a Manhattan investigator probing B.C.C.I.

 It begins, "Nothing in the history of modern financial scandals rivals the unfolding saga of the Bank of Credit & CommerceInternational (B.C.C.I.), the $20 billion rogue empire that regulators in 62 countries shut down early this month (July 1991) in a stunning global sweep. Never has a single scandal involved so much money, so many nations or so many prominent people….


But B.C.C.I. is more than just a criminal bank…



The more conventional departments of B.C.C.I. handled such services as laundering money for the drug trade and helping dictators loot their national treasuries…. The black network… operates a lucrative arms-trade business and transports drugs and gold…. it often works with Western and Middle Eastern intelligence agencies. The strange and still murky ties between B.C.C.I. and the intelligence agencies of several countries are so pervasive that even the White House has become entangled….



As TIME reported… the National Security Council used B.C.C.I. to funnel money for the Iran-contra deals, and the CIA maintained accounts in B.C.C.I. for covert operations….



The bank also maintained cozy relationships with international terrorists, say investigators who discovered suspected terrorist accounts for Libya, Syria and the Palestine Liberation Organization in B.C.C.I.'s London offices.

The bank's intelligence connections and alleged bribery of public officials around the world point to an explanation for the most persistent mystery in the B.C.C.I. scandal…"

        The following on HSBC speaks for itself:



FEB 11, 2016 @ 05:25 PM 15,869 VIEWS

HSBC Sued For Money Laundering By Families Of Americans Murdered By Mexican Cartels

Dolia Esteves,Constributor

In an unprecedented legal move, families of Americans murdered by Mexican drug cartels filed a lawsuit this week against the London-based HSBC bank for allegedly providing "continuous and systematic material support" to Mexico's Sinaloa, Ju├írez, and Los Zetas cartels by laundering billions of dollars…

In 2012, HSBC Holdings agreed to pay a record $1.92 billion in fines to U.S. authorities for allowing itself to be used to launder drug money from Mexico. The Department of Justice said at the time that the Sinaloa Cartel and Colombia's Norte del Valle cartel together laundered $881 million through HSBC and a Mexican branch.

In this week's lawsuit, the Plaintiffs accused HSBC of having operated in a "culture of recklessness and corruption" in which employees in their branches in Mexico "routinely accepted deposits of hundreds of thousands, sometimes millions, of U.S. dollars from individuals with no identifiable source of income, delivered in multiple boxes specially designed to fit the precise dimensions of the teller windows."

The lawsuit alleges that without being able to integrate their illicit proceeds into the global financial network, the cartels' ability to corrupt and acquire personnel, weapons, planes, communication devices, raw materials for drug production, their operations would be substantially impeded. According to one drug lord, HSBC was "the place to launder money," the complaint says.

The plaintiffs are seeking  judgment against HSBC for the maximum amount allowed under the Anti-Terrorism Act. ###

No comments:

Post a Comment