Irate customers, angry stockholders, doom and gloom reporters, even investigations by international law enforcement agencies – these are all just a few of the things a bank can expect if it gets caught up in a money-laundering scandal, where illicitly earned money is being used to fund criminal or even terrorist activity. But perhaps even worse than all those consequences is the damage to reputation – of the bank, and the bankers who presided over the train wreck that their venerable institution has turned into.
Read the full article here: https://financialit.net/magazines/summer_issue_2019/28804
