Case Study: Deutsche Bank Money Laundering Scheme

Deutsche Bank Money Laundering

By: Michelle Chan

The Deutsche Bank Money Laundering Scandal

After Russia’s incursion into Crimea, sanctions by the European Union and the U.S. against Russia forced President Putin to declare “offshorization” illegal in an attempt to keep Russian businesses at home and prevent the declining exchange rate of the ruble from damaging the Russian economy. As a result, Russian billionaires resorted to a more discreet way of funneling money offshore via mirror trading whereby a relatively small amount is traded in each transaction. Thus, creating the Deutsche Bank


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Moral Cents: Winter/Spring 2017 Issue

Moral Cents: Winter/Spring 2017

Dr. Kara Tan Bhala

This issue of Moral Cents: Winter/Spring 2017 presents just two articles with the first being a large and comprehensive report evaluating the LIBOR manipulation five years after the discovery of this dismal practice. Regulators began investigating the manipulation of LIBOR by a colluding clutch of international banks in 2012, after the Financial Times published an article by a former trader recounting how LIBOR manipulation was common since at least 1991. Rishi


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Ethics Analysis: The Panama Papers

Panama Papers

By: Anh Le

  1. Introduction

John Doe sent the documents he gathered from Mossack Fonseca (MF), a Panamanian law firm to the German newspaper Süddeutsche Zeitung stating that massive, pervasive corruption from high net worth individuals and criminals represented the erosion of ethics around the world. John Doe believed the documents had to be made public for everyone to understand the sources of income inequality. This report provides an overview of MF, how its documents were leaked to the world, and the


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International Investment Management: Theory, Ethics and Practice

International Investment Management book cover imageRead the new and original book lead authored by Seven Pillars Institute’s President, Dr. Kara Tan Bhala. The book uniquely synthesizes three theories of finance and gives a lucid explanation of ethics and its real world application in investment management.

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Moral Cents

Financial EthicsMoral Cents is The Journal of Ethics in Finance, produced on a regular basis by the Seven Pillars Institute for Global Finance and Ethics. See the latest issues and read them in full.

Seven Pillars Institute for Global Finance and Ethics (SPI) and the Centre for Commercial Law Studies (CCLS) at Queen Mary University of London have a collaborative affiliation in their work on ethics, law, and regulation in finance. The goal of the collaboration is to foster a dialogue on important ethical policy issues affecting the financial services industry.

Read the Collaboration Announcement