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Prosecutors: Bank executives not easy to charge

Prosecutors: Bank executives not easy to charge

Prosecutors at an international conference in Florida say bank executives rarely face money laundering charges because investigators don't uncover the kind of decisive evidence needed to convict them.
Instead, prosecutors usually target the bank or financial institution itself. Assistant New York prosecutor Adam Kaufmann says the preferred practice is to work out a settlement rather than indicting the institution.
Last year, a Washington federal judge called one of those settlements a sweetheart deal. In that settlement, Barclays Bank paid $298 million in penalties but faced no charges for doing business with countries facing U.S. economic sanctions.
More than 1,000 people from the global financial industry are attending the three-day conference in Hollywood.


Updated : 2021-09-22 00:52 GMT+08:00