Banks Will Be Named In Future Money-Laundering Scandals, Say UK Regulators
LONDON -- UK banking regulators warn that they shall exercise the new powers they will acquire later this year to name and shame banks used by money launderers.
They made the warning in comments on the early-March news that the laxness of 15 unnamed UK and non-UK banks based in Britain allowed nearly $1.3 billion to go through accounts linked to the late Sani Abacha, the former Nigerian dictator. Abacha and his family are estimated to have looted Nigerian public funds of up to $4 billion.
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