[ad_1]
What do they have German bank, Cousin of Wladimir putin and the probably the most dangerous mob boss in the world together?
They all appear in a new fugue, the FinCEN Archives. These secret documents from the United States Department of the Treasury show that banks and authorities are failing along the line when it comes to stopping criminals from laundering money.
Read all the texts beforehand with SZ Plus:
A Control system should actually prevent that criminals abuse international financial channels. But the truth is, wanted gangsters, sanctioned oligarchs, and other questionable figures have an easy job, as the safety net is full of loopholes and mistakes.
Authorities are overwhelmed and banks surprisingly helpful when it comes to opaque money transfers.
Come also: Suspicious transactionsthat actually need to be notified in a few days, often show up much later. In extreme cases: only 18 years later.
Most of the FinCEN documents were compiled to clarify how close Donald Trump’s campaign team was to Russia. The investigation provided little certainty, but Former campaign manager Paul Manafort jailed. She had secretly received millions from Ukraine and, as FinCEN’s files now show, apparently even up to the fall of 2017.
FinCEN’s archives contain numerous documents on Deutsche Bank’s highly problematic business. They reveal the alleged omissions of a department headed by current CEO Christian Sewing, in one of the biggest scandals in company history.
International sanctions regulate exactly for whom the big banks can transfer money or not. There are severe penalties. Controversial oligarchs and even criminals However, always find a way to use the international financial system:
As the leaked documents show, Deutsche Bank did it some time ago a previous manager of the money house informed the authorities. The bank’s analysts found his private equity deals suspicious.
Apparently the high fines don’t deter many banks. According to FinCEN files, several major banks, including the German bankthat have favored American BNY Mellon and the british Standard chartered – continued with questionable deals even after long promised improvements.
According to FinCEN files, the leading British bank Standard Chartered is located in one of the largest non-compliance with sanctions in recent history involved. Apparently he was helping a glamorous gold merchant bypass Iran’s sanctions.
