House Oversight Committee Chairman RepJamesComer (R-KY) on Wednesday demanded Treasury Secretary Janet Yellen convey bank records from the Biden family business that were flagged by U.S. banks as suspicious.
House Oversight Committee Chairman James Comer on Wednesday demanded Treasury Secretary Janet Yellen convey bank records from the Biden family business that were flagged by U.S. banks as suspicious.in April, more than 150 of the Biden family business bank transactions were flagged by U.S. banks as suspicious. Those flagged reports were sent over to Yellen for further review to ascertain if the Biden family was engaged in wrongdoing.
For years, wire transfers have been the tool of choice for money launderers. To mitigate the risks to the financial institutions, suspicious wire transfers over $10,000 are flagged for review. Wire transactions involving more than $10,000 are also to be reported to the Internal Revenue Service. International wire payments, such as those to James and Hunter, are monitored by the Office of Foreign Assets Control to ensure the money is not a part of corrupt business schemes.“We will also examine and make recommendations regarding federal laws and regulations to ensure that financial institutions have the proper internal controls and compliance programs to alert federal agencies of potential money laundering activity,” Comer wrote.
“We believe that suspicious activity reports, which are bank violations when the bank notifies the federal government that we’re pretty confident that our client has committed a crime, Hunter Biden and Jim Biden have at least 150 of those,” Comer said. “And I’ve said this before, and I come from a strong banking background, I don’t think there’s anyone in the history of the United States that’s had that many suspicious activity reports.
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