Global Hacker Network Stole $45 Million from ATMs
Seven people were arrested in the U.S., accused of operating the New York cell of what prosecutors said was a network that carried out thefts at ATMs in 27 countries.
money laundering
Why It's Really Time to Break Up the Too Big to Fail Banks
When the financial crisis hit, Washington chose to rescue America's biggest banks, lest their failure crush the economy. Now, "too big to fail" has morphed into "too big to jail," and letting them remain that way isn't good for the economy -- or the banking industry.
A Look at Back at Bank Scandals Since the Financial Crisis
Even before the LIBOR scandal hit, the financial industry's image was already badly tarnished by its leading role in causing the global financial crisis and recession. Here's a look at some of the low points for banking and bankers since the start of the financial crisis.
HSBC to Pay $1.9 Billion to Settle Money-Laundering Case
HSBC agreed Tuesday to pay $1.9 billion to settle a U.S. money-laundering probe. Europe's largest bank will pay the biggest penalty ever imposed on a bank after facing accusations it transferred funds through the U.S. from Mexican drug cartels and on behalf of nations such as Iran that are under international sanctions.
Entrepreneur of the Year Allegedly Stole $40 Million From Investors
A Miami businessman whom Ernst & Young once named "Entrepreneur of the Year" has been accused of swindling $40 million from investors, including some NBA stars, to support a lavish lifestyle. Venezuelan-born Claudio Osorio, 54, was arrested Friday and charged with 23 counts of fraud and money laundering .
Avoiding Job Scams: How Not to Fall Victim to the Con Artists
Scams are appallingly common online these days, and among the more despicable ploys are those that aim to take advantage of desperate job-seekers. Our friends at the Better Business Bureau have some advice on how not to get conned.
Tom DeLay Trial: Did Corporate Money Find Its Way to Texas Candidates?
The money-laundering trial of Tom DeLay, former U.S. House majority leader, opened Monday with prosecutors accusing him of illegally channeling corporate money into Texas legislative races. Defense attorneys say no corporate money made its way to Texas candidates.
Report: U.S. Banks Laundered Mexican Drug Money
A Bloomberg Markets magazine article follows the trail of cocaine and drug money through the Mexican cartels and finds millions of dollars flowed through major U.S. banks, such as Wachovia and Bank of America.
