More stuff banks have no idea about

To the now-well-known list of misdeeds and stupidity of bankers (such as CDSs squared, etc ad nauseum), add this little gem:

Banks unknowingly aided smuggling

Just this time it's not toxic. Merely nuclear

NEW YORK, April 7 (UPI) -- A Chinese national allegedly used U.S. banks to fund the smuggling of banned nuclear materials to Iran, prosecutors say.

To paraphrase Brad DeLong: Why oh why cannot we have a better banking system?