By Matt Hurley for the TIB Network:
...well, a couple of banks anyway...
From the Telegraph:
American authorities aim to cut the Infobank of Belarus and First Merchant Bank of Cyprus out of the financial system by making mainstream institutions aware of the allegations.
The Treasury Department dubbed the banks "primary money laundering concerns" for their failure to combat problems with the oil-for-food scheme.
Stuart Levey, Treasury undersecretary, said: "Today's designation alerts the global financial community of the threat posed by these entities. It also serves notice to others that there will be significant consequences for institutions that launder tainted money or engage in similar corruption: we will cut you off from the US financial system."
Matt's Chat
Did that little smack on the wrist hurt?
Mark's Remarks
This is an excellent start and it needs to send a message to the world that we are sick and tired of people who stand on the sidelines and in some cases, offer benign support of terrorism by inaction or turning a blind eye for profit. This being said, the American people need to look at where their mutual funds and pension funds are going. There is a website called DivestTerror.org which details how some of our pension funds (including government employees) are actually investing in companies that have ties to terror. Take a stand and visit this site. It will be a real eye opener. Then I encourage Americans to call their pension brokers or mutual fund brokers and seek change, to truly divest terror and cut off cashflow to these animals.
