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Topic: Banks that are behaving bad. (Read 7480 times)

legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 27, 2013, 04:14:48 AM
#36
If anybody was wondering if the law and courts might also to be blame .... ummm, wonder no more.

http://rt.com/usa/california-man-13-prison-banks-237/

Quote
Jeff Olson, the 40-year-old man who is being prosecuted for scrawling anti-megabank messages on sidewalks in water-soluble chalk last year now faces a 13-year jail sentence. A judge has barred his attorney from mentioning freedom of speech during trial.

According to the San Diego Reader, which reported on Tuesday that a judge had opted to prevent Olson’s attorney from "mentioning the First Amendment, free speech, free expression, public forum, expressive conduct, or political speech during the trial,” Olson must now stand trial for on 13 counts of vandalism.

In addition to possibly spending years in jail, Olson will also be held liable for fines of up to $13,000 over the anti-big-bank slogans that were left using washable children's chalk on a sidewalk outside of three San Diego, California branches of Bank of America, the massive conglomerate that received $45 billion in interest-free loans from the US government in 2008-2009 in a bid to keep it solvent after bad bets went south.

The Reader reports that Olson’s hearing had gone as poorly as his attorney might have expected, with Judge Howard Shore, who is presiding over the case, granting Deputy City Attorney Paige Hazard's motion to prohibit attorney Tom Tosdal from mentioning the United States' fundamental First Amendment rights.
hero member
Activity: 756
Merit: 501
There is more to Bitcoin than bitcoins.
June 24, 2013, 07:33:25 AM
#35
Banco Ambrosiano - actual murders, in addition to the usual money laundering and financing terrorist groups.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 24, 2013, 07:17:28 AM
#34
From the "so fucked up it has to be true file" ....

http://www.independent.ie/business/irish/inside-anglo-the-secret-recordings-29366837.html


Quote
TAPE RECORDINGS from inside doomed Anglo Irish Bank reveal for the first time how the bank's top executives lied to the Government about the true extent of losses at the institution.
...
The plan was that once the State began the flow of money, it would be unable to stop.

Mr Bowe is asked by Mr Fitzgerald how they had come up with the figure of €7bn. He laughs as he is taped saying: "Just, as Drummer (then-CEO David Drumm) would say, 'picked it out of my arse'."

He also says: "If they (Central Bank) saw the enormity of it up front, they might decide they have a choice. You know what I mean?

"They might say the cost to the taxpayer is too high . . . if it doesn't look too big at the outset . . . if it looks big, big enough to be important, but not too big that it kind of spoils everything, then, then I think you have a chance. So I think it can creep up."

Mr Fitzgerald, the Director of Retail Banking, is heard saying: "Yeah. They've got skin in the game and that is the key."

Mr Bowe's comments in the audio recording reveal that Anglo's strategy was to lure the State in, leaving taxpayers with no choice but to continue to provide loans to "support their money".

The recording also shows Mr Bowe and Mr Fitzgerald laughing as they say how there is no realistic chance of ever repaying the loans.

legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 02, 2013, 06:32:20 PM
#33
Looks like it was Barclays Bank that is mixed up in Liberty Reserve

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10094589/Barclays-dragged-into-money-laundering-case.html

Quote
The client, Arthur Budovsky, is alleged by US prosecutors to have used Liberty Reserve as the vehicle for the biggest ever money laundering business discovered in the US.

Barclays has been asked to surrender details of a personal current account in his name held in one of the bank’s branches in Spain where he is currently under arrest .
hero member
Activity: 882
Merit: 501
Ching-Chang;Ding-Dong
April 20, 2013, 12:48:33 PM
#32
Chase has been known to shut people down for many cash deposits in combination with international wires.

I know people personally who have had their accounts shut down for this.

I also know other people who have had their accounts shutdown solely for depositing alot of cash (multiple times daily to personal account).

Watch out for chase.
hero member
Activity: 868
Merit: 1000
April 20, 2013, 01:06:43 AM
#31
Why do banks get blamed for things like "drug money laundering"?

Becasue for instance the US govt. has made rules and regulations for how banks should deal with 'suspicious transactions'. For example, it's is suspicious if you every week come with a suitcase full of dollar bills and deposit his at a local bank branch of the same bank. If they were to follow up on the guidelines they've received from the politicians, they should've looked into this, and stopped it if found to be proceeds from criminal activity (drug trade).

As it is, the banks look through the fingers with stuff like this a lot of the time, or deals are struck through unofficial channels, thus as long as there's a profit incentive and the punishment really isn't that harsh or severe, this will only continue.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
April 19, 2013, 05:29:46 PM
#30
Why do banks get blamed for things like "drug money laundering"?

When gangsters use Mercedes-Benz Sprinter vans for human trafficking, it's not like Mercedes gets blamed for aiding gangsters.  Unless they knowingly sell a van for this purpose.

Good point ... only problem is the big banks willingly went along with all these crazy fungibility destroying digital money-tracing rules because they had the regulatory capture and it suited their interests. They can spy on their customers (and syphon off valuable consumer behaviour data for mining purposes) and serves as barrier as entry to small banks and competition in the banking space.

Now they are hoist by their own petard. They have devalued the worth of their money because it is less fungible, and they must constantly face accusations of providing safe harbour to evil-doers because they claim to be able to use money as a tool for law enforcement (not as a pure economic tool for price discovery) when they should have just stuck to banking ... Of course, now we are all the worse off for it and the economy stinks because we have bad money ... corrupted banks and egomaniacal politicians and govt. bureaucrats who think they can trace everybody, everything anywhere and any time for zero cost.

Well, the cost just showed up and it is big brother, crap money and financial collapse ... who coulda thunk?
legendary
Activity: 938
Merit: 1001
bitcoin - the aerogel of money
April 19, 2013, 12:07:09 PM
#29
Why do banks get blamed for things like "drug money laundering"?

When gangsters use Mercedes-Benz Sprinter vans for human trafficking, it's not like Mercedes gets blamed for aiding gangsters.  Unless they knowingly sell a van for this purpose.
hero member
Activity: 868
Merit: 1000
April 18, 2013, 07:55:03 PM
#28
http://www.hvitvasking.no/Nyhetsarkiv/Nordea-Bank-AB-i-Sverige-har-brutt-reglene-for-tiltak-mot-hvitvasking-og-handtering-av-EUs-sanksjonsforordninger-/

Short report in english:

Nordea Bank AB in sweden have broken the rules and countermeasures of money laundering and the sanction rules set by the EU, 16th of April, 2013.

The financeinspector in sweden have given them a warning and a penalty fee of 30 million swedish kroner for these crimes.

The money laundering has been going on for a really long time.



 
legendary
Activity: 4466
Merit: 3391
hero member
Activity: 868
Merit: 1000
legendary
Activity: 1036
Merit: 1002
January 31, 2013, 04:54:48 PM
#25
Banks are huge, and the world is a big place... this thread might grow out of proportion quite quickly.

IMO, a lot of banks technically misbehaved when they took government money by means of questionable lobbying. Questionable as in: its members were also active in politics. Oh wow. Too lazy to dig it up though, happened in quite a few places iirc.
legendary
Activity: 1554
Merit: 1021
January 31, 2013, 02:01:01 PM
#24
If you guys ever find a bank with good behaviour - it's not a bank.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
January 31, 2013, 01:19:01 PM
#23
lolz
hero member
Activity: 868
Merit: 1000
January 31, 2013, 07:13:58 AM
#22
More bad banks:
http://news.slashdot.org/story/13/01/29/2326242/the-biggest-financial-fraud-of-all-time

Seems like rather there should be some kind of database where all the mischief of the banks could be recorded. Haha. Anyone want to take on that task. Then we could send diplomas to the executives of the top fraud banks every year:

Congratulations, your bank paid 2.2billions in fines this year, and participated in money laundering, tax evation, inside trades, mortage rates manipulations etc. Well done. Be proud! You're a man of great integrity, honesty, a class-act executive!
hero member
Activity: 868
Merit: 1000
December 12, 2012, 03:53:36 PM
#17
Too funny...

Quote
According to a magazine in its online edition, at least 25 employees are suspected of evading hundreds of millions of euros (dollars) in tax and arrest warrants have been issued for five suspects.


http://economictimes.indiatimes.com/news/international-business/police-raid-deutsche-bank-in-tax-fraud-probe-company/articleshow/17586699.cms
hero member
Activity: 868
Merit: 1000
December 11, 2012, 07:30:55 PM
#16
Well, if you run a bitcoin business, and you have problems because of fears of money laundering, the traditional system seems to have far larger issues with money laundering:

http://money.cnn.com/2012/12/10/news/companies/hsbc-money-laundering/index.html?hpt=hp_t3
member
Activity: 72
Merit: 10
September 29, 2012, 05:02:38 PM
#15
I will try to keep this post updated with the large banks that doesn't behave well. This list could be used as an argumentative point, when somebody rejects to do business with you, because you're involved with bitcoins. And because bitcoins could be used for unethical purposes. Extending that line of thought, the same institutions should stop to cooperate with at least these banks:

Standard Chartered - Hid $250 billion worth of Iranian client transactions that were carried out over ten years


Why is trading with the Iranians "behaving badly"?  I hope your answer is better than "it would upset Uncle Sam and the parasites that control it".  Good for SC for giving them the finger.

Trading with Iran is against Zionists interests. It is just "normal" that the only truth in the world is what Israel and US together with their sock puppet countries in Western Europe say, if you stand in there way, better watch out your back. They will find a lot of different reasons to accuse you, e.g. you are a terrorist, you are an extremist, you have a nuclear weapon in your possession, you are against some UN law or directive and many others...

I think Standard Chartered will not get away so easily with showing the finger.


Edit:

Well prepared video, explaining purpose of sanctions to Iran and US international politic towards Middle East in a nutshell.
donator
Activity: 668
Merit: 500
September 23, 2012, 12:30:02 AM
#14
I will try to keep this post updated with the large banks that doesn't behave well. This list could be used as an argumentative point, when somebody rejects to do business with you, because you're involved with bitcoins. And because bitcoins could be used for unethical purposes. Extending that line of thought, the same institutions should stop to cooperate with at least these banks:

Standard Chartered - Hid $250 billion worth of Iranian client transactions that were carried out over ten years


Why is trading with the Iranians "behaving badly"?  I hope your answer is better than "it would upset Uncle Sam and the parasites that control it".  Good for SC for giving them the finger.
full member
Activity: 197
Merit: 100
September 16, 2012, 08:09:26 AM
#13
Wachovia bank (now part of Wells Fargo) was caught laudering $400 million for mexican drug cartels

http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs
legendary
Activity: 1358
Merit: 1002
September 15, 2012, 11:51:18 AM
#12
Bank Zachodni WBK

http://en.wikipedia.org/wiki/Bank_Zachodni_WBK

froze 3 of my debit cards without reason and demands that I come to Poland in order to get back my 1600€

stay far, far away from them and especially their debit cards

Did you use the card for any illegal stuff? Did you buy it yourself or did someone else do it for you?

I've had an account there for a few years without (bigger) problems and got two cards.

I got the cards from a reseller and only used them to withdraw from exchanges (bitstamp, mtgox)

That guy on talkgold? lol
member
Activity: 64
Merit: 10
September 15, 2012, 11:47:04 AM
#11
Bank Zachodni WBK

http://en.wikipedia.org/wiki/Bank_Zachodni_WBK

froze 3 of my debit cards without reason and demands that I come to Poland in order to get back my 1600€

stay far, far away from them and especially their debit cards

Did you use the card for any illegal stuff? Did you buy it yourself or did someone else do it for you?

I've had an account there for a few years without (bigger) problems and got two cards.

I got the cards from a reseller and only used them to withdraw from exchanges (bitstamp, mtgox)
legendary
Activity: 1372
Merit: 1000
--------------->¿?
September 15, 2012, 10:07:21 AM
#10
You want some banks that behaved bad?
Just watch "The Inside Job"

http://vimeo.com/24981578
legendary
Activity: 3472
Merit: 1722
September 14, 2012, 06:37:05 PM
#9
Bank Zachodni WBK

http://en.wikipedia.org/wiki/Bank_Zachodni_WBK

froze 3 of my debit cards without reason and demands that I come to Poland in order to get back my 1600€

stay far, far away from them and especially their debit cards

Did you use the card for any illegal stuff? Did you buy it yourself or did someone else do it for you?

I've had an account there for a few years without (bigger) problems and got two cards.
hero member
Activity: 868
Merit: 1000
September 14, 2012, 06:33:52 PM
#8
Bank Zachodni WBK

http://en.wikipedia.org/wiki/Bank_Zachodni_WBK

froze 3 of my debit cards without reason and demands that I come to Poland in order to get back my 1600€

stay far, far away from them and especially their debit cards


Thanks for the warning.

I have an idea, should there be a site, like tripadvisor, but only for banks ? So the customers could see which banks to use, and which to avoid.
member
Activity: 64
Merit: 10
September 14, 2012, 04:11:16 PM
#7
Bank Zachodni WBK

http://en.wikipedia.org/wiki/Bank_Zachodni_WBK

froze 3 of my debit cards without reason and demands that I come to Poland in order to get back my 1600€

stay far, far away from them and especially their debit cards
full member
Activity: 179
Merit: 100
September 11, 2012, 07:58:07 AM
#6
By the time you are done your list will include all banks in the world. Welcome to the obvious  Grin

I suspect you may be right Smiley
hero member
Activity: 868
Merit: 1000
August 16, 2012, 06:41:46 AM
#5
By the time you are done your list will include all banks in the world. Welcome to the obvious  Grin

 Grin
sr. member
Activity: 381
Merit: 255
August 15, 2012, 05:27:46 PM
#4
By the time you are done your list will include all banks in the world. Welcome to the obvious  Grin
hero member
Activity: 868
Merit: 1000
August 15, 2012, 12:06:34 AM
#3
I think you'll find that the claimed Standard Chartered figure is $250 billion, not million (3 orders of magnitude difference).

You stand correct. First post updated. Thank you.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
August 14, 2012, 11:50:30 PM
#2
I think you'll find that the claimed Standard Chartered figure is $250 billion, not million (3 orders of magnitude difference).
hero member
Activity: 868
Merit: 1000
August 14, 2012, 07:32:54 PM
#1
I will try to keep this post updated with the large banks that doesn't behave well. This list could be used as an argumentative point, when somebody rejects to do business with you, because you're involved with bitcoins. And because bitcoins could be used for unethical purposes. Extending that line of thought, the same institutions should stop to cooperate with at least these banks:

Standard Chartered - Hid $250 billion worth of Iranian client transactions that were carried out over ten years

Barclays - The Barclays rate-fixing scandal

HSBC - Drug money laundering, financing terrorism, moved money to Iran, facing 640 million pund fine.

ING Bank - And in June ING Bank was fined $619 million for its role in processing $1.6 billion through the US financial system for Cuba, Iran, Myanmar, Sudan and Libya.

Deutche Bank -
Germany’s biggest bank, was ordered to pay 15 million euros ($19.7 million) in a lawsuit over a currency option product it sold to a client.





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