Senate Permanent Subcommittee on Investigations Examines the Role of U.S. Correspondent Banking in International Money Laundering

IMPORTANT: The full content of this page is available to premium users only.

Tuesday, May 1, 2001
Author: 
Bruce Zagaris
Volume: 
17
Issue: 
5
182
Abstract: 
On March 1, 2, and 6, 2001, the Permanent Subcommittee on Investigations held hearings on the role of U.S. correspondent banking in international money laundering. On March 6, Senator Susan M. Collins (R-Me.), Subcommittee Chairman, summarized the hearings, explaining that John Mathewson, who is a convicted former owner of a bank in the Cayman Islands, testified about the crucial importance of correspondent banking relationships to “shady offshore money laundering institutions”…[more]