Browsing: The Money Scam


‘HSBC has been caught in another huge money laundering scam, involving hundreds of millions of US dollars run and Russian oligarchs.

According to documents obtained by the Organized Crime and Corruption Reporting Project, $20 billion was moved out of Russia between 2010 and 2014 in an operation called “The Global Laundromat”.

At the same time, HSBC CEO Stuart Gulliver also faces a probe from tax officials in the U.K. who are investigating whether he illegally evaded taxes by claiming residence abroad.’

Read more: Comey’s HSBC Caught In Another Huge Money Laundering Scam


‘In Greece, which currently has over one million unemployed citizens, firms have started paying workers in kind, mainly with supermarket coupons.

According to the latest unemployment statistics for the EU member states, prepared by Eurostat, the youth unemployment rate in Greece had remained at around 50 percent in the years 2013 to 2015, and there are no indications the situation may improve in the near future.

In Greece, if one stays unemployed for 12 months or longer, he or she is no longer eligible for social security or the reimbursement of their health care costs, which forces people to agree to low-wage temporary or part-time jobs.

According to figures released by the Ministry of Labour, more than 22 percent of Greek workers are employed half-time or part-time and earn less than €400 (US $430) per month.’

Read more: No Other Choice: Greek Employees Agree to Get Paid With Coupons


‘Ukrainian nationalists have spray-painted graffiti and plastered flyers all over the offices of Russian-owned Alfa Bank and Sberbank in the Ukrainian city of Nikolayev. The vandals proceeded unimpeded in plain view of police as some officers took photos.

Footage posted by RT’s video agency Ruptly shows a bunch of young men, wearing dark blue jackets with words “National Corps” written on their backs, painting political slogans and gluing posters to the offices of two Russian banks. Sberbank is a state bank, while Alfa Bank is privately owned.’

Read more: Ukrainian radicals vandalize Russian banks as police look on


‘Ukraine on Sunday said the International Monetary Fund has postponed a board discussion on disbursing a new $1-billion loan tranche after Kiev cut trade links with eastern regions held by pro-Russia militants.

“The IMF board of directors has postponed for a short period the review planned for Monday of the issue,” Ukraine’s finance ministry said in a statement.

There was no separate confirmation from the IMF.

Cash-starved Ukraine is desperately waiting for the next installment of a $17.5 billion rescue program that has been held up repeatedly since it was agreed in 2015 over delays by Kiev to carry out reforms.’

Read more: IMF adjourns meeting on Ukraine loan


‘Republic of South Africa President Jacob Zuma has leveled sharp attacks on the financial industry inside the country accusing banks of treating the population unfairly.

During the course of his response to a debate surrounding the State of the Nation Address (February 8) to parliament in Cape Town on February 16, Zuma stressed his:

“Government is ready to act against market abuse, price fixing and collusion in the private sector in order to protect our country’s economy. This matter is still under investigation. The Competition Commission can impose fines on companies but the impact is far reaching as it distorts our economic system.”

These comments come amid a series of revelations related to currency fixing and the closing of accounts by those who have close ties with the African National Congress (ANC) dominated national government in Pretoria and Cape Town.’

Read more: International Banks Targeted for Prosecution in South Africa


‘Employees from all five of Canada’s big banks have flooded Go Public with stories of how they feel pressured to upsell, trick and even lie to customers to meet unrealistic sales targets and keep their jobs.

The deluge is fuelling multiple calls for a parliamentary inquiry, even as the banks claim they’re acting in customers’ best interests.

In nearly 1,000 emails, employees from RBC, BMO, CIBC, TD and Scotiabank locations across Canada describe the pressures to hit targets that are monitored weekly, daily and in some cases hourly.

“Management is down your throat all the time,” said a Scotiabank financial adviser. “They want you to hit your numbers and it doesn’t matter how.”‘

Read more: ‘We are all doing it’: Employees at Canada’s five big banks speak out about pressure to dupe customers

2017.03.15 - Fat Len_0

Eight US Navy officials have been charged in the ‘Fat Leonard’ bribery case which has plagued the military branch for years. They are accused of accepting “luxury travel, elaborate dinners and services of prostitutes” from a Singapore-based defense contractor.

Among those charged is Rear Admiral Bruce Loveless, recently retired from the Pentagon, as well as four retired navy captains, and a retired marine colonel.

The defendants were arrested across five states on Tuesday, according to authorities. They face charges including bribery, conspiracy to commit bribery, honest services fraud, and obstruction of justice and making false statements to federal investigators, according to a Tuesday release by the Department of Justice (DOJ).

Read more: Sex parties as bribes: Eight US Navy officers charged in ‘Fat Leonard’ scandal