U.S. Senate Hearing on Private Banking and Money Laundering Presages Ill Winds

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Wednesday, December 1, 1999
Author: 
Bruce Zagaris
Volume: 
15
Issue: 
12
485-491
Abstract: 
On November 9-10, 1999, the U.S. Senate Committee on Permanent Investigations held two days of hearings on private banking and money laundering focusing on problems of Citicorp accounts. The hearings will likely be a catalyst in the enactment of new anti-money laundering laws, the issuance of additional regulations, and the conduct of audits by banking regulators. This account is primarily of the November 9 hearing. The next issue will focus on the second day of the hearing... [more]