a small house in a body of water: John M Lund Photography Inc / Getty Images


© John M Lund Photography Inc / Getty Images
John M Lund Photography Inc / Getty Images

  • Jennifer Taub is a legal scholar and advocate who’s testified as a banking law expert before Congress and appeared on MSNBC and CNN. 
  • The following is an excerpt from her new book, “BIG DIRTY MONEY: The Shocking Injustice And Unseen Cost of White Collar Crime.”
  • In it, she examines white collar crime, its history, and why these offenders fail to face the consequences that street level criminals do from Congress and the Supreme Court.
  • She explains how the country’s biggest crimes — like the financial crisis in 2008 to the ongoing opioid epidemic — have taken a toll in its citizens on a systematic level and the US can do better moving forward. 
  • Visit Business Insider’s homepage for more stories.

America, we have a big dirty money problem.

The corporate crime, elite impunity,

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(Bloomberg) — The U.K. reached a 9.8 million pound ($12.7 million) settlement in its first successful use of a controversial power designed to crack down on dirty money.



a sign on the side of a building: LONDON, ENGLAND - OCTOBER 07: A general view of The National Crime Agency building in Westminster on October 7, 2013 in London, England. The NCA replaces SOCA, the Serious Organised Crime Agency, which was formed in 2006. Dubbed "the British FBI", the NCA will be tasked with tackling the most serious of crimes in the UK and replaces a number of existing bodies. (Photo by Dan Kitwood/Getty Images)


© Photographer: Dan Kitwood/Getty Images Europe
LONDON, ENGLAND – OCTOBER 07: A general view of The National Crime Agency building in Westminster on October 7, 2013 in London, England. The NCA replaces SOCA, the Serious Organised Crime Agency, which was formed in 2006. Dubbed “the British FBI”, the NCA will be tasked with tackling the most serious of crimes in the UK and replaces a number of existing bodies. (Photo by Dan Kitwood/Getty Images)

The National Crime Agency settled a so-called Unexplained Wealth Order with Mansoor “Manni” Mahmood Hussain, a Leeds businessman, the agency said Wednesday in a statement. The 40-year-old handed over more than 45 properties in London, Leeds and Cheshire, four parcels of land, and nearly 600,000 pounds in cash.

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This post was contributed by a community member. The views expressed here are the author’s own.

Brackpool, Koziatek, and Villaraigosa
Brackpool, Koziatek, and Villaraigosa ( Cadiz, Marilyn Koziatek for School Board 2020 and Antonio for California)

Greed, for lack of a better word, is good.”
– Wall Street

If you have ever wondered how a career politician like Antonio Villaraigosa supports himself between political offices, the answer lies with people like Keith Brackpool. The former Los Angeles mayor depends on this benefactor not only for contributions “to his political campaigns”, but for a “job between electoral posts”. Looking at the source of this money provides insight into why the corporate wing of the Democratic party has lost its way.

Born in England, Brackpool “came to the US after admitting having breached financial disclosure laws in the UK in the 1980s.” In the United States, he has made millions from Cadiz, a company that

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If you’re looking for a self-improvement task in this pandemic era, try teaching yourself to use contactless payments with your phone or “tap-to-pay” credit and debit cards.

Any germaphobe will tell you that the surfaces of bills and coins have always been gross. And handing your credit card to a cashier who has the sniffles and a hacking cough? Even in pre-pandemic times, also gross.

Now, COVID-19 has prompted the Centers for Disease Control and Prevention to advise using touchless payments whenever possible in the brick-and-mortar world.

Americans have been relatively slow to adopt touch-free payments even though they’re more convenient and secure than swiping credit and debit cards. But maybe hygiene will be the tipping point as people seek a solution for, well, yucky money.

“I think the pandemic is a strong impetus to change,” said Jodie Kelley, CEO of the Electronic Transactions Association. “I think it’s going to

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STOCKHOLM (Reuters) – Sweden’s financial watchdog said on Wednesday that lender SEB’s past deficiencies regarding money-laundering were well known, after Swedish Television (SVT) aired a programme saying 8.2 billion Swedish crowns ($919 million) in suspicious funds had passed through the bank.

SVT’s allegations were based on leaked suspicious activity reports (SARs) filed by banks and other financial firms with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN), which were reported by U.S. and other media on Sunday.

“The fact that there has been suspected illicit financial flows through SEB in the Baltic region is something that has been reported on…so in that sense this information is not new,” the FSA told Reuters.

The Baltic scandal, first ensnaring Danske Bank

and resulting in a record Swedish fine for Swedbank

, lifted the lid on money flows from Russian and other non-resident clients into the European Union and elsewhere.

“The

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LONDON (Reuters) – Britain’s banks must make the fight against dirty money a “top priority” or risk facing more severe fines, Bank of England Deputy Governor Sam Woods said on Tuesday.

FILE PHOTO: A worker wearing a protective face mask walks past the Bank of England in the City of London, Britain, August 6, 2020. REUTERS/Toby Melville

Global banks, including UK-based HSBC, Barclays and Standard Chartered, face fresh scrutiny on their efforts to curb money laundering after a cache of leaked documents showed they transferred more than $2 trillion in suspect funds over nearly two decades.

Woods said it was vital that banks played their part in fighting financial crime as the “FinCEN” leaks were a good reminder of how criminals will use the financial system for their own ends.

“If the banks get this wrong, then costs for them are very severe, as you

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