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Mon Sep 21, 2020, 01:10 PM

'FinCEN' reports say big banks moved dirty money

This discussion thread was locked as off-topic by JudyM (a host of the Latest Breaking News forum).

Source: Yahoo! News

Hong Kong shares of HSBC fell to their worst level since 1995 on Monday (September 21) after reports that it and other financial institutions had allegedly moved large sums of illicit money over two decades.

They revolve around documents leaked to Buzzfeed and shared with a global network of invetigative journalists.

Buzzfeed and other news outlets say it involves moving money for the likes of terrorists, drug kingpins and corrupt leaders.

The leak is reportedly made up of over 2,100 suspicious activity reports filed by banks and other financial firms with the U.S Treasury's Financial Crimes Enforcement Network, or Fincen.

The so-called Fincen Files allegedly show more than $2 trillion dollars worth of transactions from 1999 to 2017, all of it flagged as suspicious by the banks' own compliance departments.

Read more: https://news.yahoo.com/fincen-reports-big-banks-moved-063448514.html





HSBC and Barclays headquarters in Canary Wharf, London.

The two banks were among the top firms named in the ICIJ's FinCEN files as those involved in large-scale money laundering: https://www.icij.org/investigations/fincen-files/download-fincen-files-transaction-data/

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Replies to this discussion thread
Arrow 9 replies Author Time Post
Reply 'FinCEN' reports say big banks moved dirty money (Original post)
sandensea Sep 21 OP
bucolic_frolic Sep 21 #1
sandensea Sep 21 #3
soothsayer Sep 21 #2
sandensea Sep 21 #4
soothsayer Sep 21 #5
Sneederbunk Sep 21 #6
sandensea Sep 21 #7
empedocles Sep 21 #8
JudyM Sep 21 #9

Response to sandensea (Original post)

Mon Sep 21, 2020, 01:13 PM

1. Of course

make life easy for big crooks, and difficult for little people. What better method of enforcement and control?

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Response to bucolic_frolic (Reply #1)

Mon Sep 21, 2020, 01:16 PM

3. +1

I believe the ego is the root of all evil, rather than money.

It's just that to the ego, there's nothing more important.

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Response to sandensea (Original post)

Mon Sep 21, 2020, 01:15 PM

2. Don't forget Deustche Bank


?s=21


Olga Lautman
@OlgaNYC1211
Maybe Deutsche shouldn't have been involved in allowing the Kremlin to fund terrorist and intelligence operations to take down the West. Not to mention all the drug trafficking and mafia global activities. Just saying

AFP news agency
@AFP
#BREAKING Deutsche Bank shares plunge 8% after media reports allege involved in money laundering

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Response to soothsayer (Reply #2)

Mon Sep 21, 2020, 01:19 PM

4. No wonder they were so anxious to carry Cheeto's water

They know that his occupying the Oval office, is the only chance they have at evading prosecution.

Same goes for Paul Singer and a bunch of other laundrettes.

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Response to sandensea (Reply #4)

Mon Sep 21, 2020, 01:21 PM

5. Yup

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Response to sandensea (Original post)

Mon Sep 21, 2020, 01:31 PM

6. Wow! This is news?

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Response to Sneederbunk (Reply #6)

Mon Sep 21, 2020, 01:46 PM

7. It's news that they were able to reveal it

Money laundering usually goes unreported.

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Response to sandensea (Original post)

Mon Sep 21, 2020, 01:56 PM

8. Citigroup down a hefty 3% at 1:53p

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Response to sandensea (Original post)

Mon Sep 21, 2020, 03:35 PM

9. Locking

Alerted on as being dupe of this post from yesterday, and the forum hosts agree: https://www.democraticunderground.com/10142585780

Please continue discussion in that thread.

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