Financial Institutions

Subscribe to Financial Institutions via RSS

An IRS webpage identifies U.S. residents accused of engaging UBS AG to maintain secretly opened Swiss or other foreign bank accounts:

(Click On The Image To View The Webpage)*

One person cited by this webpage is Ms. Lucille Abrahamsen Jackson, of Hillside New Jersey.  She reportedly concealed assets in a Swiss bank account by using a Panamanian company as her nominee, (i.e. intermediary).  To detect these kinds of Swiss bank accounts, claimants ranging from the IRS to divorcing spouses may pursue different legal remedies.Continue Reading Searching For Bank Accounts Secretly Opened In Switzerland

At an April 26, 2010 Moneylaundering.com article*, I basically explained that the damaged investors of a Ponzi scheme can not successfully recover money damages on the ground that a financial institution violated the Bank Secrecy Act:

(To Read The Article, Click On The Image Above)

This Moneylaundering.com article mentioned a 2009 lawsuit…

The Ministerio Publico and the General Prosecutor of Guatemala assert that ex-president of Guatemala’s Congress Reuben Dario Morales Veliz, could have received graft payments in a public corruption scheme.  Payments believed to be connected to the alleged corruption scheme may have been laundered through Guatemalan and U.S. bank accounts.

To collect evidence regarding one of…

"French Bank Agreement" indicates that Jewish Holocaust victims were paid restitution because French financial institutions had wrongfully seized Jewish-owned bank accounts during WWII.  Holocaust victims who possess claims against the French railway Société Nationale des Chemins de Fer Français (SNCF), might similarly receive restitution.

These claimants seek compensation from SNCF because it…

Today’s “Asset Search News Roundup” is about politically exposed persons and a suspected laundering scheme.

  1. “FAQ” webpage focuses on the legal tools for freezing illicit assets dictators or other politically exposed persons might hide in Switzerland.  Via such tools, Swiss authorities recently froze $1 billion in assets believed to be connected to either Muhammad Hosni

…

The following fact pattern has been changed for privacy reasons:

Robert received dunning letters and phone calls from debt collectors because he supposedly owed more than $50,000 dollars in credit card debt.  The debt collectors alleged that various financial institutions had issued Robert seven credit cards many years ago.  These debt collectors too claimed that…

“Recognizing Hidden Assets, The Red Flags” explained that bankruptcy trustees, tax authorities, financial intelligence units, etc. search for concealed assets by looking for red flags of fraud or other illicit acts.  Lawsuits brought by investors damaged by Ponzi schemes also may focus on red flags, as described at “Florida Court Unlikely…

Today’s “Asset Search News Roundup” focuses on two publications by the anti-money laundering bellwether, the Financial Action Task Force.  This roundup too mentions a warning from the FinCEN financial intelligence unit about the potential movement of assets out of Egypt.

  • The Financial Action Task Force published various reports at its website last month.  Two

…

Money mules and the former Tunisian president’s assets are covered by this “Asset Search News Roundup”:

  1. The Washington Post and FDIC previously outlined how some money launderers pretended to be employers to basically induce their so-called “employees” to wire transfer illicit funds as straw men.  These straw men commonly called money mules, were also just

…

The January 21st "Asset Search News Roundup" talks about tracking Nazi-looted art; a proposed rule for detecting bank deposits by foreigners; and the Haitian money trail.

  1. The Swiss have made available on the Internet the "FDHA/FDFA Report on the State of Work on looted Art during the National Socialist era, in particular,

…