The Sandstorm report was the name of the secret report submitted on June 22, 1991 by financial consultants Price Waterhouse to the Bank of England, showing that the Bank of Credit and Commerce International (BCCI) had engaged in widespread fraud, and that organizations regarded as terrorist groups had maintained several accounts in BCCI in London, with the apparent knowledge of the British and American intelligence community. Sandstorm was Price Waterhouse's codename for BCCI. June 22 is the 173rd day of the year (174th in leap years) in the Gregorian Calendar, with 192 days remaining. ... 1991 (MCMXCI) is a common year starting on Tuesday of the Gregorian calendar. ... ... The Bank of England is the central bank of the United Kingdom, sometimes known as The Old Lady of Threadneedle Street or The Old Lady. The Bank of England // Functions of the Bank It performs all the recognized functions of a central bank -- to maintain price stability, and subject to... The Bank of Credit and Commerce International (BCCI) was a major international bank founded in Pakistan in 1972. ... The term terrorism is largely synonymous with political violence, and refers to a strategy of using coordinated attacks that typically fall outside the time, manner of conduct, and place commonly understood as representing the bounds of conventional warfare. ... Part of the London skyline viewed from the South Bank London is the most populous city in the European Union, with an estimated population on 1 January 2005 of 7,421,328 and a metropolitan area population of between 12 and 14 million. ...

As a result of the information contained in the Sandstorm report, the bank was raided and taken over by regulators in seven countries on July 5, 1991. Estimates of financial losses range from $10 billion to $17 billion, though some of it has been recovered by the banks liquidators, Deloitte & Touche. [1] July 5 is the 186th day of the year (187th in leap years) in the Gregorian Calendar, with 179 days remaining. ... 1991 (MCMXCI) is a common year starting on Tuesday of the Gregorian calendar. ... Deloitte Touche Tohmatsu is one of the Big Four auditors. ...

See also

• Bank of Credit and Commerce International
• Abu Nidal

The Bank of Credit and Commerce International (BCCI) was a major international bank founded in Pakistan in 1972. ... Abu Nidal in 1976 in a photograph released by the Israeli army, one of only a handful of photographs of him known to exist. ...

References

• Kochan, Nick & Whittington, Bob. Bankrupt: The BCCI Fraud, London 1991
• Adams, James Ring & Frantz, Douglas. A Full Service Bank, London 1991
• "Case study: Bank of Credit and Commerce International", Erisk, June 2001, retrieved November 9, 2005
• An incomplete copy of the Sandstorm report (pdf), made available by the Association for Accountancy and Business Affairs, retrieved November 9, 2005
• List of BCCI reports, Association of Accountancy and Business Affairs, retrieved November 9, 2005