Gold dealer and NatWest done for money laundering

[HerefordBullyun]

When will these banks learn...

https://uk.finance.yahoo.com/news/banks-banking-natwest-pleads-guilty-money-laundering-charges-112614517.html

 

The bank, formerly Royal Bank of Scotland, is the first in the UK to admit to such an offence and said it “deeply regrets” its failings.

[AlphaBeast]

Regret being caught, more like. 

Anyway, money is fictional, this the banks don't actually lend you money. You just sign (wet signature) a piece of paper (contract) to say you promise to pay back this 'fictional' loan, plus interests. 

No wonder the banks are 'minting' it.

[blackadder]

57 minutes ago, HerefordBullyun said:

When will these banks learn

Never as they all do it and far worse.

[dicker]

The only way is to send board members and the CEO to prison for significant financial crimes.  If this happened the landscape would drastically change and very very quickly.  

[HerefordBullyun]

39 minutes ago, dicker said:

The only way is to send board members and the CEO to prison for significant financial crimes.  If this happened the landscape would drastically change and very very quickly.  

Never happen. Look at at Barclays HSBC JPM theyve all collectively done trillions worth...

[HerefordBullyun]

Mean while in the real world although a Paraody account this is the grim reality of what is going on....

[sovereignsteve]

5 hours ago, dicker said:

The only way is to send board members and the CEO to prison for significant financial crimes.  If this happened the landscape would drastically change and very very quickly.  

As is always the case, no individual is ever held accountable. I think it specifically said so in the news report.

[dicker]

There was only one person who was jailed as far as I know for the MBS /  CDS debarcle. This in itself is a disgrace.  
 

[CollectorKyle]

Whoever gets put up for these things is a puppet anyway so it makes no difference. The masses see the news flash of jail and are satisfied, until the next sacrifice is required…

[LawrenceChard]

9 hours ago, HerefordBullyun said:

When will these banks learn...

https://uk.finance.yahoo.com/news/banks-banking-natwest-pleads-guilty-money-laundering-charges-112614517.html

 

The bank, formerly Royal Bank of Scotland, is the first in the UK to admit to such an offence and said it “deeply regrets” its failings.

Yahoo and other news sites don't mention whether any action is still in progress against Fowler Oldfield, its directors, or other "bullion dealers" involved in this Cunning Stunt. 

😎 

[dicker]

Not sure that’s really the case.  Two Credit Suisse bankers were tried in NY and only one was jailed.  It didn’t even hit the headlines.  
 

[HerefordBullyun]

Just now, LawrenceChard said:

Yahoo and other news sites don't mention whether any action is still in progress against Fowler Oldfield, its directors, or other "bullion dealers" involved in this Cunning Stunt. 

😎

Love the freudian slip Mr C. Nice to see your razor sharp wit around! 

[dicker]

Not a claim to fame but I went on a stag do with one of the two CS bankers who were tried in the US.  My (poor) mental arithmetic was better than his when working out the bull for the stag weekend. 

[dicker]

11 minutes ago, LawrenceChard said:

Yahoo and other news sites don't mention whether any action is still in progress against Fowler Oldfield, its directors, or other "bullion dealers" involved in this Cunning Stunt. 

😎

Worth googling who Mr Stunt’s godfather is, which may or may not shed some light on this matter…..

[HerefordBullyun]

7 minutes ago, dicker said:

Worth googling who Mr Stunt’s godfather is, which may or may not shed some light on this matter…..

Comn on Spill! Cant leave us in suspenders mate, except on tuesdays

[LawrenceChard]

22 minutes ago, HerefordBullyun said:

Love the freudian slip Mr C. Nice to see your razor sharp wit around! 

Wit?

You're half right! 🙂

[dicker]

https://www.dailymail.co.uk/news/article-10068611/Natwest-pleads-guilty-failing-prevent-gold-dealer-depositing-365m-account.html

1.8 million quid a day in cash..... cash.  I had no idea that the margins on bullion were so great....

Lets leave this here! (or PM me)

 

 

 

[HerefordBullyun]

18 minutes ago, dicker said:

https://www.dailymail.co.uk/news/article-10068611/Natwest-pleads-guilty-failing-prevent-gold-dealer-depositing-365m-account.html

1.8 million quid a day in cash..... cash.  I had no idea that the margins on bullion were so great....

Lets leave this here! (or PM me)

 

 

 

Love that comment! Lol the irony about banks banning it!

Ms Eccelstone probably knows!

 

[LawrenceChard]

11 hours ago, dicker said:

https://www.dailymail.co.uk/news/article-10068611/Natwest-pleads-guilty-failing-prevent-gold-dealer-depositing-365m-account.html

1.8 million quid a day in cash..... cash.  I had no idea that the margins on bullion were so great....

Lets leave this here! (or PM me)

 

The cash volume or turnover is not directly related to any profit margin. 

It is entirely possible that at least one of the parties was making a loss, but if a large proportion of the money was from one, or a small number of people, he or she could have been paying 5%, 10%, or more to have their money laundered, which would obviously provide a huge margin for the "traders".

There is still considerable mystery in this case, and it could be some time before we get to hear everything, if ever.

[LawrenceChard]

On 07/10/2021 at 13:41, HerefordBullyun said:

When will these banks learn...

https://uk.finance.yahoo.com/news/banks-banking-natwest-pleads-guilty-money-laundering-charges-112614517.html

 

The bank, formerly Royal Bank of Scotland, is the first in the UK to admit to such an offence and said it “deeply regrets” its failings.

Update 13th December 2021: NatWest fined £265m after bin bags of cash laundered (BBC)

https://www.bbc.co.uk/news/business-59629711

Does anybody still wonder why most gold coin and bullion dealers are carefull about ID and AML procedures?

[HerefordBullyun]

7 minutes ago, LawrenceChard said:

Update 13th December 2021: NatWest fined £265m after bin bags of cash laundered (BBC)

https://www.bbc.co.uk/news/business-59629711

Does anybody still wonder why most gold coin and bullion dealers are carefull about ID and AML procedures?

Im still adamant its just scratching the surface and the fines these banks get are an absolute pittance. They can kill this off in one payment by  fractional reserve lending in one deal!

[sjhdesmond]

Does this mean that Chards won't accept my musty-smelling Scottish banknotes? Or as we call them up here, banknotes.

[LawrenceChard]

1 minute ago, sjhdesmond said:

Does this mean that Chards won't accept my musty-smelling Scottish banknotes? Or as we call them up here, banknotes.

We will accept almost anything.

Might have to do a body search though!

😎