Can Big Bank Money Laundering Be Stopped? And, if So, How?

He warned the two U.S. officials of a “contagion” – with the implication being close one bank and the whole economy could suffer. What happened? Federal prosecutors stood down.

by Guest Writer
The International Forecaster

By Dave Allen. This is the second of a two-part dive into BuzzFeed News’ recent study on money laundering in too-big-to-fail U.S. banks.

Part One, which appeared in Monday’s American Survival newsletter, gave an overview of this widespread criminal enterprise and listed examples from the study of how it has infected our financial institutions and the people who run them. Part Two asks the simple questions, can money laundering be stopped? And, if so, how? The answer to at least the first question appears simple and straightforward…

Financial crime experts say if the government really wanted to, it could stop the dirty money that’s being cleaned by the big banks and enriching them – and the broad range of criminality and criminals they fund. How to stop it is another story – or stories.

THE FIX IS IN: One easy fix, BuzzFeed argues, would be to “require companies to disclose their owners to the Treasury Department, rather than allowing people to hide behind a shell company.”

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