US Senate Report Will Highlight Growing Use Of Correspondent Banking By World's Money Launderers


WASHINGTON -- A hefty US senate report delving into the correspondent relationships of US banks with offshore banks is expected to be ready by early February. It will show just how vulnerable correspondent banking is to abuse by money launderers, senate sources told Operational Risk in early January.

The investigation is part of a continuing inquiry by the senate's permanent subcommittee on investigations into the extent that US banks can find themselves involved with money laundering, the pr