Senate Foreign Relations Subcommittee Makes Significant Findings and Recommendations on the BCCI Affair

On October 1, the Senate Foreign Relations Committee’s Subcommittee on Terrorism, Narcotics and International Operations released a 780-page report on BCCI that contains substantial criticisms of the major regulators, the regulatory system of international banks, and make significant recommendations for improving the regulatory mechanisms and framework to prevent financial fraud and money laundering…[more]