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A woman counts money in front of a US remittance agency in San Isidro, 70 km northeast of San Salvador, on June 10, 2020 – AFP
Astronomical amounts of dirty money have flowed through the world’s largest banks for years, according to a report by the International Consortium of Investigative Journalists (ICIJ) released Sunday.
“Profits from deadly drug wars, diverted fortunes from developing countries, and sweaty savings stolen from Ponzi schemes make their way in and out of these institutions, despite warnings from bank employees themselves, the research notes. made by 108 media in 88 countries.
The investigation is based on thousands of “suspicious activity reports” sent by banks around the world to FinCen, the financial police of the US Department of the Treasury.
“These documents, compiled by banks, shared with the government but kept out of the public eye, expose the fragility of bank safeguards and the ease with which criminals exploit them,” wrote the website Buzzfeed, in the presentation of the report.
The documents point to transactions of two trillion dollars between 1999 and 2017.
The investigation specifically targets five major banks – JPMorgan Chase, HSBC, Standard Chartered, Deutsche Bank and Bank of New York Mellon – which they accuse of mobilizing assets of suspected criminals, even after they have been prosecuted or convicted of crimes. financial
“The networks through which dirty money circulates around the world have become vital arteries to the global economy,” according to Buzzfeed News.
Deutsche Bank said the disclosures “are well known” to regulators. The German bank claims to have allocated “significant resources to strengthen its controls”, as well as to fulfill “its responsibilities and obligations.
The investigation highlights the lack of power of US officials to regulate dirty financial transactions.
Before the report was released, the Treasury financial police warned that revealing suspicious transaction reports without permission is a “crime that could affect the national security of the United States.”
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