U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing PDF Download

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U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing

U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing PDF Author: Us Senate Investigations Subcommittee
Publisher: Cosimo Reports
ISBN: 9781616407834
Category : Business & Economics
Languages : en
Pages : 0

Book Description
The U.S. Senate Permanent Subcommittee On Investigations (PSI) issued a report in *U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing*, using the global banking and financial firm, HSBC Group, as a case study. HSBC lapsed in the management of anti-money laundering and compliance issues in an effort to cut costs as the firm grew. As a result, the report suggests the sharing of information among globally systemically important financial institutions to maintain an awareness of risk alerts. The PSI suggests standards that HSBC and Office of the Comptroller of the Currency, HSBC's regulator, should uphold. The U.S. SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS (PSI) is a bi-partisan committee of senators that deals with Homeland Security and Governmental Affairs, and is currently headed by Senator Carl Levin (D-MI) and Senator Tom Coburn (R-OK). Formerly known as the Committee on Government Operations, PSI is the oldest subcommittee of the Senate Homeland Security Committee.
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