Rabobank fined 369 million dollars for laundering drug trafficking assets

[OyaYansa]

Rabobank on Tuesday pleaded guilty to the crimes of "conspiracy to defraud the United States" and "corrupt obstruction of an inspection of a financial institution."

The US subsidiary of Dutch bank Rabobank will pay a fine of 368.7 million dollars after pleading guilty to obstructing regulators in a case of money laundering of Mexican drug trafficking.
Rabobank on Tuesday declared guilty of the crimes of "conspiracy to defraud the United States" and "corrupt obstruction of an inspection of a financial institution," the US Department of Justice has reported. UU it's a statement.
The Dutch bank admitted that its "deficient program" against money laundering "allowed hundreds of millions of dollars in untraceable cash to be deposited, originating in Mexico and other places" in rural branches of Rabobank in the Californian county of Imperial , border with Mexico.
These deposits were then transferred through "bank transfers, checks or cash transactions, without due notification required by law to the regulatory authorities."
Hide and minimize deficiencies

In addition, during an inspection of regulatory authorities in 2012, "Rabobank executives actively sought to hide and minimize deficiencies in their anti-money laundering program in an effort to deceive regulators" and thus avoid fines such as those previously imposed in 2006 and 2008 for the same reasons.
"When Rabobank learned that a considerable number of its clients' transactions indicated drug trafficking, organized crime and money laundering, it chose to look the other way and cover the deficiencies in its program," said Deputy Attorney General of the Criminal Division of the Department of Justice, John P. Cronan.