Wonderful, ethical world of Wachovia
Are US corporate standards designed by
gangsters?
Here’s what Wachovia
says:
Wachovia is committed to protecting your personal data as well as your money. Wachovia Security PlusSM combines a wide variety of fraud prevention programs, sophisticated analysis tools and backroom processes to pinpoint and analyze suspicious activity. This helps us detect and prevent fraud and reassure you that your personal and financial information, as well as your money is as safe online as it is at home, at the branch or over the phone.
Here’s what Wachovia does:
The Wachovia Corporation agreed on Friday to pay as much as $144 million to end an investigation that accuses the bank of allowing telemarketers to use its accounts to steal millions of dollars.
The settlement, one of the largest penalties ever demanded by the federal Office of the Comptroller of the Currency, concludes an 18-month inquiry into Wachovia’s relationships with schemes that investigators say stole from thousands of victims, many of them elderly.
Though Wachovia did not admit or deny wrongdoing, the investigation found that Wachovia, one of the country’s largest banks, engaged in unsafe practices — failing to conduct suitable due diligence, failing to monitor accounts used by telemarketers and failing to follow normal procedures that would probably have uncovered the thefts.
And then there’s this:
US justice authorities are investigating Wachovia Corp, one of the top five US banks, as part of a probe into Latin American drug money laundering, the Wall Street Journal reported Saturday.
Wachovia is one of several large US banks being examined for relations with Mexican and Colombian money-transfer and foreign exchange firms directly involved in the laundering, the Journal said…
Miami court documents show that US agents have seized over 11 million dollars in 23 Wachovia accounts that belonged to the Mexican chain Casa de Cambio Puebla. US authorities suspected the money was the laundered funds of a drugs syndicate.
Are US corporate standards designed by gangsters? Or do they just naturally fall into that category?
Wachovia is committed to protecting your personal data as well as your money. Wachovia Security PlusSM combines a wide variety of fraud prevention programs, sophisticated analysis tools and backroom processes to pinpoint and analyze suspicious activity. This helps us detect and prevent fraud and reassure you that your personal and financial information, as well as your money is as safe online as it is at home, at the branch or over the phone.
Here’s what Wachovia does:
The Wachovia Corporation agreed on Friday to pay as much as $144 million to end an investigation that accuses the bank of allowing telemarketers to use its accounts to steal millions of dollars.
The settlement, one of the largest penalties ever demanded by the federal Office of the Comptroller of the Currency, concludes an 18-month inquiry into Wachovia’s relationships with schemes that investigators say stole from thousands of victims, many of them elderly.
Though Wachovia did not admit or deny wrongdoing, the investigation found that Wachovia, one of the country’s largest banks, engaged in unsafe practices — failing to conduct suitable due diligence, failing to monitor accounts used by telemarketers and failing to follow normal procedures that would probably have uncovered the thefts.
And then there’s this:
US justice authorities are investigating Wachovia Corp, one of the top five US banks, as part of a probe into Latin American drug money laundering, the Wall Street Journal reported Saturday.
Wachovia is one of several large US banks being examined for relations with Mexican and Colombian money-transfer and foreign exchange firms directly involved in the laundering, the Journal said…
Miami court documents show that US agents have seized over 11 million dollars in 23 Wachovia accounts that belonged to the Mexican chain Casa de Cambio Puebla. US authorities suspected the money was the laundered funds of a drugs syndicate.
Are US corporate standards designed by gangsters? Or do they just naturally fall into that category?
Posted: Sun - April 27, 2008 at 01:31 PM