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Dates: during 1980-1989
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...capital of the Netherlands Antilles, a banker ushers an American visitor through a hotel casino and into a dining room overlooking the harbor. During refreshments, the prospective customer says he expects a six-figure cash windfall soon and would like to bring the money "quietly" into the U.S. At first the banker responds cautiously. "This money isn't, ah, tainted, is it?" When the American assures him it is not, the officer of the Curacao branch of the French-owned Credit Lyonnais Nederland smiles and orders another tonic water. In that case, says the banker, he can arrange...
...drawbacks. The interest revenue lost while cash is in transit pains a drug dealer as much as it would a corporate financial officer. And since narcotraffickers see America as a safe and profitable haven for their assets, they often launder and invest their cash in the U.S. The first and trickiest step is depositing the hot cash in a U.S. financial institution. Reason: the IRS requires all banks to file Currency Transaction Reports for deposits of $10,000 or more. During the early 1980s, launderers got around this scrutiny by employing couriers called Smurfs, named for the restless cartoon characters...
...compels offshore financial institutions to make their books "transparent" enough to show the true owners of the money. In the end, the Colombian drug cartels are about to force the world to re-examine the international financial system that has developed haphazardly over the 60 years since the Swiss first popularized secret banking. Countries may not yet be willing to make their banking transactions fully "transparent," but some light must be shed on everyone's books. Says Kerry: "It will take significant leverage and leadership. The President has to have the top bankers in and say, 'Unless you are part...
...left some members with an uneasy sense that no one was in charge. But Prime Minister Hans Modrow seemed in command as he appealed on national television for calm, and the party hastily threw together a temporary 25-member working group to fill the leadership void. On Thursday the first talks between the Communist Party and the opposition yielded agreements to recommend parliamentary elections for May 6 and to rewrite the constitution. In addition, the foundering party advanced an emergency congress by a week to try to restore order and salvage shreds of credibility from the wreckage...
...April 22 date has special meaning for environmentalists: it marks the 20th anniversary of the first Earth Day. In that memorable 1970 mobilization, which evolved from an idea by Senator Gaylord Nelson, more than 20 million Americans, many of them students, rallied under the banner of Mother Nature. Their plea for action helped lead to the passage of the Clean Air Act and the creation of the U.S. Environmental Protection Agency...