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Astronomical sums of money have been circulating and laundering for years through the world’s largest banking institutions, according to an international survey by the International Consortium of Investigative Journalists conducted by 108 international media outlets in 88 countries.
The investigation is based on thousands of “suspicious activity reports” (SARs) to the US Treasury Financial Crime Network, FinCen, from banks around the world.
“These documents, produced by banks and released to the government but never made public, highlight the abyss of bank guarantees and the ease with which criminals have exploited them,” said Buzzfeed News. who participated in the investigation.
The documents refer to transactions worth 2 trillion. dollars between 1999 and 2017.
The investigation stigmatizes five major banks: JPMorgan Chase, HSBC, Standard Chartered, Deutsche Bank and Bank of New York Mellon, which are accused of continuing to divert funds from suspects as criminals even after they have been charged or convicted of financial crimes.
According to Buzzfeed News, “The networks through which dirty money circulates in the world have become vital arteries of the world economy.”
In a statement, Deutsche Bank confirmed that the consortium’s disclosures are information “well known” to its auditors and that it has dedicated significant resources to strengthening these audits and that it is paying close attention to its responsibilities and obligations.
The investigation, according to the APE BPE, also highlights the inability of the US authorities to control these transactions.
In a statement prior to the release of the investigation, the US Treasury Department’s financial police warned that posting suspicious activity was a “crime” that could affect US national security.
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