Foreign Bank:

Initial Assessment of Certain BCCI Activities in the U.S.

GGD-92-96: Published: Sep 30, 1992. Publicly Released: Oct 23, 1992.

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Pursuant to a congressional request, GAO: (1) reviewed the operations of a foreign bank's representative office in Washington, D.C.; and (2) assessed the federal banking agencies' efforts to determine if the bank, through its secret ownership of U.S. commercial banks, abused those banks for its own benefit.

GAO: (1) found no evidence of direct payments to U.S. government officials and only nominal contributions to two political committees; (2) found no evidence that the bank adversely influenced the operations of two U.S. banks for its own benefit or that of related entities, except for one transaction; and (3) could not gain access to the financial and other records of foreign bank entities operating outside the United States and cannot conclude that such payments or abusive actions were not carried out.

Jul 6, 2020

Apr 30, 2020

  • finance icon, source: Comstock

    Priority Open Recommendations:

    Department of the Treasury
    GAO-20-549PR: Published: Apr 23, 2020. Publicly Released: Apr 30, 2020.

Apr 27, 2020

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Dec 19, 2019

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