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The circumstances of the world’s black money transactions through the world’s leading banks such as HSBC, JP Morgan Chase, Deutsche Bank and Standard Chartered were exposed. On the 21st (local time), BuzzFeed News and the International Association of Investigative Journalists (ICIJ) obtained and analyzed more than 2,100 suspicious activity reports submitted by these banks to FinCEN, the US Department of Finance. For 2017, The volume of suspicious illegal financial transactions through these banks was estimated to exceed $ 2 trillion (about 2.3 trillion won).
According to the document, Archadi Rothenberg, an old friend of Russian President Vladimir Putin and a Russian prostitute, opened an account for a company called ‘Advantage Alliance’ at Barclays, a large British bank. Rothenberg deposited and withdrew £ 60 million (approximately 90 billion won) to this account from 2012 to 2016. Rothenberg was a person on the sanctions list in Western countries such as the United States and the European Union in 2014, but used Barclays to your favor. In June 2014, Rothenberg spent $ 7.5 million (about 9 billion won) to purchase Rene Magritte’s (La Poitrine) artwork, and the money is known to have been withdrawn through this Barclays account. According to a US Senate investigation in July this year, Rothenberg was known to have laundered money by buying and selling expensive artwork to evade sanctions.
While North Korea was being sanctioned, it was confirmed once again that it had conducted financial transactions through US banks. According to the document, the volume of transactions in North Korea approved through JPMorgan and New York Melon Bank exceeds 174.8 million dollars (about 200 billion won). China’s Dandong Hongxiang Industrial Development and Executive Director Ma Xiaohong, who were prosecuted by the United States Department of Justice for conducting financial transactions with a North Korean company, remitted funds to North Korea using an undercover company.
In addition, the UK’s large bank, HSBC, has allowed millions of dollars in remittances despite acknowledging that certain accounts were being used for multi-level financial fraud, and the UAE Central Bank neglected to let its banks used to avoid Iran sanctions The document contained the circumstances, including the circumstances in which Deutsche Bank allowed criminal organizations such as terrorism and drug trafficking to launder black money. Little impact is expected as it has been revealed that financial institutions have tolerated it despite knowing that there is an illegal situation in a specific financial transaction.
