The ACFCS Top 10 Financial Crime Stories of 2012


The year 2012 was marked by several momentous events that have long legs. They will serve as precedents, landmarks and nightmares. These are the events that ACFCS chooses as the Top 10 Financial Crime Stories of the Year.

1. The dawn of “Bank Justice” under which major international financial institutions that are caught committing prolonged serious crimes are allowed to plea bargain with the US government, whose settlement terms are almost invariably, “Cut a modest check, say you’ll sin no more, and no one goes to jail.” A few 2012 examples: Barclays, HSBC, MoneyGram, Standard Chartered.

Related Story – Soft US treatment of UK’s HSBC differs sharply from indictment of 3 big Mexican banks in ‘Operation Casablanca’

2. The arrival of “Snitches, Wires and Flips” as staples of government investigations of Wall Street crimes and criminals. This equalizes the

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