'FinCEN' reports say big banks moved dirty money

[sandensea]

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

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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/

[bucolic_frolic]

1. Of course

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

[sandensea]

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.

[soothsayer]

2. Don't forget Deustche Bank

Link to tweet

?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

[sandensea]

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.

[soothsayer]

5. Yup

[Sneederbunk]

6. Wow! This is news?

[sandensea]

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

Money laundering usually goes unreported.

[empedocles]

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

[JudyM]

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.