(frankieleon)

Report: HSBC To Pay $1.9 Billion To Wash Away Money-Laundering Claims

Remember earlier this year when a Senate investigation found that HSBC had effectively turned its head while customers laundered billions of dollars for drug cartels and other illegal entities? Well, it looks like the bank will be hit with a record-setting settlement of $1.9 billion over the mess. [More]

Report: The Government Is Going To Start Busting Heads Over Money-Laundering At Big Banks

Report: The Government Is Going To Start Busting Heads Over Money-Laundering At Big Banks

If big banks weren’t at the root of so many problems, maybe we’d be starting to feel the tiniest bit bad for all the trouble they’ve been getting into lately with authorities. But yeah, we don’t feel the slightest twinge of sympathy that regulators are reportedly about to start cracking down on a few big banks for money-laundering. [More]

Report: HSBC Will Tell Senate How Super Sorry It Is For Money Laundering

Report: HSBC Will Tell Senate How Super Sorry It Is For Money Laundering

HSBC is reportedly all set to air its dirty laundry to a Senate subcommittee next week and will apologize to authorities for allowing money laundering to go on under its own roof. Get it off your chest, HSBC. It’ll feel so much better after you do. [More]

The Benefits Of Making Your Own Laundry Detergent

The Benefits Of Making Your Own Laundry Detergent

Back in April, we talked about making your own laundry detergent. Gather washing soda, grated bar soap, borax and boiling water and you can avoid the store-bought stuff. Whether or not it’s worth making the product yourself is up for debate. [More]

Congrats! You're Hired! (To Be An Advance Fee Fraud Victim)

Congrats! You're Hired! (To Be An Advance Fee Fraud Victim)

Are you a fast worker? Can you cash checks drawn on your name? File monthly reports on your preformed tasks? How would like a job in the exciting and burgeoning field of being an advance-fee fraud victim? Positions are available, and filling fast. Here’s the hot job offer reader Joel got emailed:

Here's What The World Of ATM Hacking Looks Like

Here's What The World Of ATM Hacking Looks Like

Wired has been covering the ongoing investigation into recurring ATM pin thefts from Citibank accounts, and their latest article tracks how Ukrainian immigrants, a ringleader back in Russia, a hacked company named Fiserv that runs Citibank-branded ATMs in 7-Elevens, and an online payment service that also offers money laundering for a small fee all come together to steal your money. It’s an amazing look at how the U.S. tries to combat the threat of ATM-related theft.

Wachovia Now Being Investigated For Drug Money Laundering

Wachovia Now Being Investigated For Drug Money Laundering

Wachovia, you old rascal! As soon as you wrap up one unsavory scandal, a new possible scandal comes to light. U.S. justice authorities are investigating the bank for possible money laundering through Mexican and Colombian money-transfer businesses. The Wall Street Journal reported on Saturday that “the bank is possibly facing a deferred-prosecution agreement with the US Department of Justice that would subject it to ‘extensive federal oversight,’” but Wachovia denies that any such discussion has taken place.

Enzyte's Steve Warshak (And His Mom) Found Guilty!

Enzyte's Steve Warshak (And His Mom) Found Guilty!

Hooray! Steve Warshak, the snake oil salesman responsible for Enzyte (and consequently for those awful “Smiling Bob” ads) was found guilty today of conspiracy to commit mail fraud, bank fraud, and money laundering. So was his mom.

WaMu Is Bad At Stopping Money Laundering

WaMu Is Bad At Stopping Money Laundering

The Office of Thrift Supervision has issued a Cease and Desist order to WaMu because they’re extremely crappy at stopping money laundering. According to the order, they must get their act together and file a new plan that insures they will be in compliance with the Bank Secrecy Act by March 31, 2008.