Martin Woods on Drug Money Laundering

June 29 (Bloomberg) -- Martin Woods, former director of Wachovia Corp.'s anti-money-laundering unit in London, talks with Bloomberg's Julie Hyman and Mark Crumpton about the use of Wachovia Corp. and others by Mexican drug cartels to launder funds. Bloomberg Markets Magazine senior writer Michael Smith reports in the magazine's August 2010 issue that Wells Fargo & Co., which bought Wachovia in 2008, admitted in court that its unit failed to monitor and report suspected money laundering by narcotics traffickers. (Source: Bloomberg)