Tag Archive for drug money

Drug Money Bankers

Judy Lubow for Planet Warning

The international banking system is awash in laundered drug money. According to Martin Woods, former London director of Wachovia’s anti-money laundering unit, it is the laundering of money by international banks that actually finances the tragic drug murders in Mexico. Yet no one in the American banking system is going to jail for this murder-promoting activity. Bloomberg Markets Magazine reveals that, in spite of rampant abuse, no big US bank has ever been indicted for violating federal anti-money laundering laws. Instead, respected US financial institutions, such as Wachovia-Wells Fargo, Bank of America, and Western Union, have merely settled multiple criminal charges against them by paying essentially inconsequential fines and making unfulfilled promises – to do better next time.

And, according to Antonio Maria Costa, the former head of the UN’s office on drugs and crime, some of the big banks might even have used the laundered drug money as a means to rescue themselves during the 2008 banking system meltdown. Apparently, to some big US banks, money is money – even if its covered in blood.

To learn more about the financial system’s laundering of drug money, as well as to access organizations fighting corporate abuse, you can go to the website thisisnotadrillradio.org.