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Tag Archives: Wachovia

Senate Cites Lax Rules for Illicit Money Transfers

The 325-page report by the Permanent Subcommittee on Investigations, which will conduct a hearing on Thursday, sheds new light on how banks like Citigroup, Wachovia and Bank of America unwittingly shifted hundreds of millions of dollars on behalf of African politicians, their relatives and associates. The banks ended up closing or restricting the accounts and [...]