Every year, banks handle tens of millions of transactions. Some of them involve drug money, or deals with companies doing secret business with countries like Iran and Syria, in defiance of trade sanctions.
But if the Justice Department has its way, banks will be forced to change — to spot illegal transactions and blow the whistle before any money changes hands.
Federal prosecutors have already collected more than $4.5 billion from some of the world's biggest financial institutions — banks charged with looking the other way when dirty money passed through their accounts.
Gul Mohammed Khan has lost three sons in sectarian violence during the last two years, in Karachi, Pakistan. He stands here with some of his grandchildren who have lost their fathers. When he looks at his grandchildren, he says, he sees his sons.
Credit Dina Temple-Raston/NPR
Men mourn over the deaths of their family members during their funeral procession in Karachi, Pakistan last week. Police said gunmen have wounded a prominent Sunni cleric and killed his guards and his driver in an apparently sectarian attack in southern Pakistan.
Credit Fareed Khan / AP
Rescuers carry a sheet to collect body parts near the scene of a bomb explosion in Karachi on Saturday that killed at least six people and . wounded 48. The sandals in the foreground are displayed for sale.
The sad truth about Karachi in 2012 was that whatever your religion, business affiliation, or political party, someone was willing to kill you for it.
The murder rate in Pakistan's largest city and commercial hub hit an all time high last year. Over 2,500 people died in violent crimes in Karachi in 2012, a 50 percent increase over the year before.
Most of the deaths were attributable to sectarian killings and score settling. Shia Muslims took on the brunt of the violence. But Sunni Muslims were killed in reprisal attacks that added to the tally.
Good morning. I'm Steve Inskeep. A New Year's tradition will change in Brasstown, North Carolina. Instead of the Times Square Ball, Clay's Corner Store lowered a love possum in a box. Store owner Clay Logan tells the Chattanooga Times Free Press we aren't pessimistic or optimistic. We're opposumistic. But nobody asked the possum. People for the Ethical Treatment of Animals sued. Now Mr. Logan says he'll drop a stuffed animal, or road kill, depending on what's available. It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.
And let's turn to some other developments we're following very closely. Secretary of State Hillary Clinton is in a New York City hospital this morning. She is being treated for a blood clot. Now, a State Department spokesman said this stems from a concussion Clinton sustained earlier this month. The blood clot was discovered during a follow-up exam yesterday.
We're joined in the studio by two of our colleagues, NPR foreign affairs correspondent Jackie Northam and NPR science editor Rob Stein. Good morning to both of you.
In India, protestors are vowing to keep up their fight until there is justice for the young victim of a gang rape. The young woman died this weekend after injuries she suffered in the vicious attack. The incident has renewed demands for action against sexual violence. Delhi police say the accused will be formally charged with murder. From New Delhi, here's NPR's Julie McCarthy.
The U.S. economy grew at a steady though not very strong pace this year. But Europe slipped back into recession because of the ongoing debt crisis. European leaders took steps to stimulate growth, but it wasn't enough to reverse course.
The economic crisis that got under way five years ago was felt all over the world. But Mohammed El-Erian, CEO of the investment firm PIMCO, says different regions have healed at much different rates.
The year "2012 was another multispeed world globally, in the sense that different parts did different things," he says.
It is almost unimaginable that both the House and Senate would be in session on a Sunday evening on the penultimate day of the year. And yet, they both were, with lawmakers hoping it was not merely a big waste of time and effort.
A bipartisan push by Senate leaders over the weekend has so far failed to forge a deal to spare American wage earners from tax hikes and shield government programs from drastic cutbacks.