List of Bank Fraud and Criminal Activities

Contrary to popular belief, banks are not tools used serve the public good. In reality, modern day banking is basically used to serve private needs. There is no need to engage in conspiracy theories or debate, the facts speak for themselves.

Below are a list of banks that have engaged in fraud and/or other criminal activities:

  1. Swiss banking giant Credit Suisse has pleaded guilty to helping thousands of US clients evade paying taxes to the US government
    http://www.bbc.com/news/business-27478532
  2. Bank of America to pay Fannie Mae billions to settle mortgage claims
    http://www.bbc.co.uk/news/business-20934751
  3. JP Morgan and Credit Suisse pay $417m to settle securities charges
    http://www.bbc.co.uk/news/business-20370509
  4. HSBC to pay $1.9bn in US money laundering penalties
    http://www.bbc.co.uk/news/business-20673466
    http://www.democracynow.org/2012/12/13/matt_taibbi_after_laundering_800_million
  5. Drug money saved banks in global crisis, claims UN advisor
    http://www.guardian.co.uk/global/2009/dec/13/drug-money-banks-saved-un-cfief-claims
  6. UBS fined $1.5bn for Libor rigging
    http://www.bbc.co.uk/news/business-20767984
  7. Swiss bank Wegelin to close after US tax evasion fine
    http://www.bbc.co.uk/news/business-20907359
  8. AIG Settlement: Insurance Giant Agrees To Pay Investors $725 Million settlement to resolve allegations of wide-ranging fraud
    http://www.huffingtonpost.com/2010/07/16/aig-settlement-investors_n_649910.html
  9. Banks Financing Mexico Gangs Admitted in Wells Fargo and Wachovia Deal
    http://www.bloomberg.com/news/2010-06-29/banks-financing-mexico-s-drug-cartels-admitted-in-wells-fargo-s-u-s-deal.html
  10. Goldman Sachs Will Settle Fraud Case for $550 Million
    http://www.cnbc.com/id/38267132/Goldman_Sachs_Will_Settle_Fraud_Case_for_550_Million
  11. Bank of America sued for alleged mortgage fraud
    http://money.cnn.com/2012/10/24/news/companies/bank-of-america-lawsuit/index.html
  12. Wells Fargo Committed Mortgage Fraud To Maximize Profits, U.S. Suit Says
    http://www.forbes.com/sites/halahtouryalai/2012/10/09/wells-fargo-committed-mortgage-fraud-to-maximize-profits-us-attorney-lawsuit/
  13. J.P. Morgan Sued on Mortgage Bonds
    http://online.wsj.com/article/SB10000872396390444138104578030903731665328.html
  14. Citigroup announced a deal to pay Fannie Mae $968m for loans sold to it between 2000 and 2012
    http://articles.washingtonpost.com/2013-07-01/business/40298858_1_fannie-mae-government-owned-mortgage-giant-mortgage-claims
  15. Citigroup agreed a $395m accord with Freddie Mac mortgage claim settlement
    http://www.bbc.co.uk/news/business-24237900
  16. Wells Fargo agrees $869m settlement with Freddie Mac
    http://www.bbc.co.uk/news/business-24329482
  17. Dutch bank Rabobank says it has agreed to pay fines of 774m euros ($1bn; £662m) imposed by US, UK and Dutch regulators over the Libor interest rate-fixing scandal
    http://www.bbc.co.uk/news/business-24730242
  18. EU fines banks over rate-rigging
    http://www.bbc.co.uk/news/business-25215560
  19. S&P to pay $1.4bn to regulators in sub-prime debt case
    http://www.bbc.com/news/business-31115174
  20. Five of the world’s largest banks are to pay fines totalling $5.7bn (£3.6bn) for charges including manipulating the foreign exchange market.
    http://www.bbc.com/news/business-32817114

So if banks are willing to engage in criminal activities to serve private needs at the expense of the general public, what should we do about them?

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