BANGLADESH CENTRAL BANK GETS TOUGH ON PEPS + RELATIVES MONEY LAUNDERING

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bangladesh

 

http://www.thedailystar.net/bb-to-monitor-transactions-in-high-ups-bank-accounts-57487

 

As a step to prevent money laundering, banks would be monitoring income sources of senior politicians, bureaucrats, judicial and military officials, and senior officials of international organisations.

Their bank transactions would also be monitored regularly, said Bangladesh Bank in a circular yesterday.

The central bank ordered banks to monitor “politically exposed” people and influential people.

The notice said politically exposed people were “individuals who are or have been entrusted with prominent public functions by a foreign country, for example heads of state or of government, senior politicians, senior government, judicial or military officials, senior executives of state-owned corporations and important political party officials”.

Influential people were “those who are or have been entrusted domestically with prominent public functions, for example head of state or of government, senior politicians, senior government, judicial or military officials, senior executives of state owned corporations, important political party officials”.

According to the Bangladesh Bank notice, heads or senior officials of the international organisations will refer to those people who are or have been entrusted with key positions by an international organisation. Members of senior management such as directors, deputy directors and members of the board or equivalent were some of the posts.

Bank accounts of family members and close associates of those mentioned above would also be monitored.

“Banks will ask for documents from an account holder, no matter who the person is, whenever they find a suspicious transaction,” said Mahfuzur Rahman, an executive director of the central bank.

“If the transaction still seems to be suspicious to them, after going through documents, then banks will report the case to the central bank … and we will take measures as per laws.

“But if banks do not report a case, and it is later found that the person is involved in money laundering activities … then officials concerned of the banks will be fined, if they are not involved in the crime. But if the officials concerned are found to be involved in the crime, then legal steps will be taken against them,” he said.

A meeting chaired by Finance Minister AMA Muhith was held a few days ago in order to take measures to make the country’s anti-money laundering laws up to international standard.

The UN’s anti-money laundering body, Financial Action Task Force (FATF), had urged the government to include these groups of people in its anti-money laundering watch list.

In 2010, the FATF gave Bangladesh stipulated time to do 28 things needed to bring its anti-money laundering and counter terror financing measures up to international standards.

If Bangladesh did not comply with the recommendations, the country may again be included in the grey list of the FATF, which Bangladesh got out of only in February this year.

The UN body would review Bangladesh’s progress next year.

WHAT CAN YOU TELL US ABOUT BRAD DOWNING + DAVID FAULCON + JAMES BROUSE

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IF YOU HAVE EVIDENCE REGARDING BRAD DOWNING or DAVID FAULCON or JAMES BROUSE, CONTACT US AT THE SKYPE NAMES ON TOP OF THIS PAGE.

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BILL DOWNING

BRAD DOWNING

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Alpha et Omega

The Alpha et Omega is an occult order, initially named the Hermetic Order of the Golden Dawn, co-founded in London, England by Samuel Liddell MacGregor Mathers in 1888. The Alpha et Omega was one of four daughter organisations into which the Hermetic Order of the Golden Dawn fragmented, the others being the Stella Matutina; theIsis-Urania Temple led by A.E. Waite and others; and Aleister Crowley’s A∴A∴.Following a rebellion of Adepts in London and an ensuing public scandal which had brought the name of the Golden Dawn into disrepute,Mathers renamed the branch of the Golden Dawn remaining loyal to his leadership to “Alpha et Omega” sometime between 1903 and 1913. “The title was usually abbreviated as A.O.” and according to some sources its full name was “Rosicrucian Order of Alpha et Omega“. All of the temples of the order appear to have gone out of existence by the Second World War.

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DR. ZVONKO BERDIK ALBERT + HIS WIFE’S BUSINESS CARDS

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A GLOBAL CON or A GLOBAL CONSPIRACY. IF YOU HAVE EVIDENCE REGARDING DR. ZVONKO BERDIK ALBERT, CONTACT US AT THE SKYPE NAMES ON TOP OF THIS PAGE.

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Dr. Zvonko  Berdik Albert and his Tool

Dr.  Albert Zvonko Berdik- id

 

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KAREN HUDES: LEGAL COUNSEL FOR WOLFGANG STRUCK (Authorized Signatory Under The Global Debt Facility)

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THE TREATY OF VERSAILLES GOLD BULLION CERTIFICATES

 

WOLFGANG STRUCK--ID and Business card

images

 

https://s3.amazonaws.com/khudes/Treaty+of+Versailles+Gold+Bullion+Certificates.pdf

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ETI ALON COMMITTED LARGEST THEFT IN ISRAELI BANKING HISTORY, MOST MONEY NEVER RECOVERED

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SOON TO BE RELEASED FROM PRISON

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ETI ALON

 

http://www.jpost.com/Israel-News/Woman-who-stole-NIS-300-million-from-bank-she-worked-at-wins-early-prison-release-385970

 

An Israel Prisons Service parole committee agreed Sunday to shorten the sentence of Eti Alon, who was convicted of stealing millions of shekels from the Commerce Bank where she worked in 2002.

Alon has already served 12 years of a 17 year sentence which the committee agreed to cut by 1/3. The state can appeal the ruling.

Alon stole more than a quarter of a billion shekels from the bank in which she worked, causing its collapse.

Alon was sentenced in 2003 for her role in the embezzlement of some 300 million shekels from the Commerce Bank, where she had been the deputy chief of investment.

She confessed in 2002 to stealing the money over a five-year period, in order to help her brother, Ofer Maximov, pay off his gambling debts. Maximov received a jail sentence of 15 years.

THE STORY

ELI 2

LEFT – OFER MAXIMOV
CENTER – ETI ALON

 

http://www.haaretz.com/business/the-theft-that-changed-the-israeli-banking-system-and-underworld-1.430641

 

April marked the tenth anniversary of the biggest bank theft in Israeli history, which not only put the perpetrators in prison but upset the entire Israeli banking system, and the balance of power in the underworld too. Investigators are still working at tracking down some of the money.

On April 25, 2002, Eti Alon, the former deputy head of investments at Trade Bank, walked into the fraud squad headquarters and confessed that she’d stolen a quarter of a billion shekels from the bank’s customers over five years.

Her sticky fingers led to the bank’s collapse and cost the state – which had guaranteed deposits at the bank – half a billion shekels all told.

Alon was sentenced to 17 years. Her brother, Ofer Maximov, who received most of the money, was sentenced to 15.

The ease with which the fraud was perpetrated changed financial regulation in Israel. Also, people lost their faith in small banks, which vanished. They were gobbled up by the big ones, increasing their domination over banking in the country.

In 2006, the official state receiver sued 35 people over the affair. The first circle of defendants, which included Alon and her relatives, were declared bankrupt on the spot. Reclaiming money from the second circle, which included people in the gray market, was more complicated.

“The second Eti walked into the police station, the whole underworld knew she was there,” said a high-ranking police officer at the National Fraud Investigation Unit who had participated in the investigation. “We knew that if we didn’t get our hands on the money within 24 hours, it would take years to get it back. In one case, we recovered money mere minutes after a bank transfer. In another, we got a warrant for NIS 20 million that were in somebody’s bank account, and we got to it the second before he was about to transfer it.”

You can’t sell a football player

And that was an easy case. Others were trickier. “Take [gray market dealer] Benny Revizada, for instance. He lent money to Maximov and got it back in the form of checks that Alon stole from the bank,” says a police source. Revizada used some of it to buy apartments together with other people. “Good luck trying to get your hands on apartments like that, where ordinary people are living. He was also a part-owner of the Maccabi Jaffa football club. What can you do with that – take over the team? Sell the players? Also, most of the money passed through several different hands, and it was hard to track down.”

That helps explain why the authorities haven’t manage to get back more than NIS 38 million from the shadow market.

Yet another circle of defendants was made-up of high-ranking officials and the bank’s board members, who were ordered by the court to pay the state NIS 18 million (some of the money was covered by insurance companies).

The final, fourth circle of defendants included the Kesselman & Kesselman accounting firm, the bank’s auditors. It was ordered to pay NIS 20 million.

Maximov sparks war in the underworld

Two months before Alon showed up at the police station, Israel’s crime kingpins held an urgent meeting at the David InterContinental Hotel in Tel Aviv.

The purpose of the summit was to defuse conflict over Alon’s brother Ofer Maximov, who was one of the biggest spenders in the underground world of Israeli gambling at the time. (Gambling is illegal in Israel, with the exception of the national lottery and the national sports betting organization). He owed about NIS 100 million to underworld gangs, who were squabbling over who would have dibs on collection rights.

The NIS 250 million stolen from Trade Bank had quickly reached Maximov’s creditors on the gray market, the owners of the casinos where he had gambled and, ultimately, various organized crime gangs.

The amounts were so enormous that they redrew the map of organized crime in Israel, says the police source: “Small-time crooks, real nothings before Trade Bank scandal, came out of it big-time players.”

Maximov was not fussy about where he did his gambling. He visited almost every casino in Israel and many abroad, and owed them vast sums.

During their summit, the underworld leaders decided that the “Jerusalem gang” would place Maximov under their protection, with supervision from the Abergil brothers, Yitzhak and Meir. But shortly afterward, Alon confessed and the font of cash – Trade Bank – dried up. Police officials believe the collapse of the cash cow triggered a gang war that lasted years.

Petty criminals elevated to crime bosses thanks to Maximov lost their lofty status after his arrest. In 2011 the Abergil brothers were extradited to the U.S. to face trial on allegedly laundering money that came from Trade Bank, amongst other charges. Several high-ranking members of the Abutbul family were murdered, and senior members of the Jerusalem gang, together with Ze’ev Rosenstein, one of the most infamous criminals in the country, ended up behind bars.

Managing billions from a mobile home

The collapse of Trade Bank exposed a powerful financial player who had previously been unknown to most Israelis: Benny Revizada, who ran an unregistered bank from a mobile home, and, later on, from a booth near a fuel station on Herzl Street in Tel Aviv. The amount he got from Trade Bank – NIS 144 million – was a drop in the sea of money passing through his hands by cashing checks and loan-sharking.

According to the prosecution, NIS 4.2 billion were deposited in Revizada’s accounts between 1999 and 2002.

Cronies describe him as a fascinating character, who, with zero higher education or even Excel spreadsheets, managed billions of shekels. He relied on his phenomenal memory, common sense, high emotional intelligence and mostly, as he himself told the detectives who questioned him, “a nose for people.”

Police officials say Revizada started his day by withdrawing anything from tens to hundreds of thousands of shekels from one of his bank accounts. “Then he’d go to his booth and sit back. Say somebody came to him with a check for a hundred thousand shekels. Revizada would study him, decide whether he could cover it, and give him ninety thousand for his check.”

Revizada based his business on charging interest tailored to each client, albeit using methods that would make a professional risk manager snort. According to an official, Revizada said that he would mark his clients’ checks with animal-shaped stamps. “For example, he knew that Moshe’s checks were marked with an eagle, David’s had a Doberman and so on. That was how he tracked people.” However offbeat his method, the fact is that he got almost all the money back.

A bank check is a precious, rare commodity on the gray market. Revizada would change the payees’ names on the checks that had been stolen from Trade Bank and deposit them in his own accounts. When Trade Bank scandal broke, his business was revealed, his gray-market bank was shut down and he served four years for tax evasion. Recently, he lost a lawsuit connected with the case, and is now awaiting sentencing.

Meanwhile, the Trade Bank scandal had changed thinking in the gray market. “Israeli crooks learned they didn’t have to break into houses and steal food,” a police official says.

The banking system changed as well. An analysis conducted after the scandal showed the brazen theft had been enabled by structural failures. For instance, Alon had been responsible for approving both credit and deposits.

Subsequently, the Bank of Israel ordered all banks to identify sensitive positions and improve anti-money laundering controls. New procedures were instituted to keep track of employees’ bank accounts. Vacation regulations were tightened to prevent bank employees from refusing to take time off to cover up nefarious actions – Alon had refused to go on holiday for years, in case a replacement noticed something amiss. Based on the same logic, the banks were ordered to rotate sensitive jobs. Regulations governing the separation of powers and decentralization of authority in the bank were amended.

Also as a result of the scandal, consumers lost their trust in the small banks, which were bought up by the big  ones.

Could it happen again? No, say regulators, thanks to the regulation revamp. But the police shrug: “Never say ‘never again.’”