Edith Gomez Palacios

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Jurisdictions

Allegations

Hamilton Bank’s ‘unsafe banking practices’

Recently-unsealed court documents have thrown up allegations of money laundering and "unsafe banking practices" that led to the forced closure in January of Miami-based Hamilton Bank, which provided correspondent services to many offshore banks. This activity included receiving deposits of approximately $1.9 billion per year via courier from Latin American countries without conducting any checks as to its legitimacy, it has been alleged.