The International Consortium of Investigative Journalists (ICIJ) noted that five major global banks have been exposed to funneling trillions of dollars in criminal funds, in the recently leaked FinCEN files.
The massive leak is 2,100 documents spanning from 2000 to 2017, showing that fraudulent funds flowed almost effortlessly through JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon, he learned. CryptomonedaseICO.
The world’s regulators are supposed to be regulating the “tainted” dollars that flow through the financial system, and the United States has several financial regulators.
However, recently leaked FinCEN files indicate that the Financial Crimes Enforcement Network (FinCEN) and other regulators rarely prosecute the global banking cartel.
Some 2,100 documents implicate New York Mellon, JPMorgan, HSBC, Deutsche Bank and Standard Chartered in facilitating a series of incomplete financial breaches. Documents were revealed to 108 news organizations in 88 countries and ICIJ and Buzzfeed released the story.
“Every year $ 2.4 trillion in illicit funds is laundered,” the story goes, “but the authorities detect less than 1%.”
So far, leaks sent to ICIJ and Buzzfeed have uncovered more than $ 2 trillion in fraudulent funds that were processed by the world’s leading banks. Additionally, investigative journalists have found even more evidence and the counted number of illicit funds continues to rise.
The leak is quite large and ICIJ investigative journalists and other members of the media are still uncovering these financial crimes. Journalist Alicia Tatone says that there are many cases in which US regulators warned these five banks but continued to process illicit funds for criminals.
“JPMorgan, the largest US-based bank, moved money for individuals and companies linked to the massive looting of public funds in Malaysia, Venezuela and Ukraine, the leaked documents reveal,” says Tatone. There is also a significant list of “confidential clients” who are often associated with “gangsters, scammers or corrupt regimes.”
The same US bank moved more than a billion dollars for someone they claimed they did not know in London, while the individual eventually turned out to be on the FBI’s 10 most wanted list.
In total, according to an ICIJ analysis, the documents identify more than $ 2 trillion in transactions between 1999 and 2017 that were flagged by internal compliance officers of financial institutions as possible money laundering or other criminal activity, including $ 514,000 million at JPMorgan and $ 1.3 trillion at Deutsche Bank, ”Tatone writes.
The files show that HSBC allowed fraudulent organizations to move billions, while Deutsche Bank is accused of moving funds for terrorists and drug cartels. Curiously, FinCEN and the Treasury Department did not respond to a large number of questions sent by ICIJ and several journalists.
Despite being threatened with fines and sometimes even insignificant fines much smaller than the transactions processed, the banking cartel did what it wanted without shame.
A former financial crimes prosecutor and US Justice Department official, Paul Pelletier, told ICIJ during the investigation that banks “operate in a system that is largely ineffective.”
After getting caught so many times, Deutsche Bank, which struck a $ 258 million settlement with the Federal Reserve and promised to clean up its act, continued to participate in the criminal fund movement. Year after year, FinCEN files reveal how Deutsche Bank helped suspicious individuals and fraudulent shell companies to proliferate.
FinCEN files show that the Bank of New York Mellon (BNY Mellon) helped Onecoin crypto Ponzi move approximately $ 137 million.
In 2017, BNY Mellon marked all 29 Onecoin transactions, but US regulators did nothing. According to a BNY spokesperson, the bank explained to the ICIJ that the institution takes financial regulation seriously.
When ICIJ members submitted questions to Deutsche Bank, they refused to answer questions about certain people such as the Ukrainian business magnate Ihor Kolomoisky.
The report written by Alicia Tatone says that Deutsche Bank told ICIJ that they are aware of the bank’s “past weaknesses” and that “we are now a different bank,” Deutsche Bank emphasized. In fact, all five banks have responded to FinCEN’s files since they were leaked last weekend, with most banks blaming financial regulators.
Interestingly, the global banking cartel never gets into trouble for money laundering, dealing with drug cartels, hit men, and associating with known mobsters. Besides Bernie Madoff, no CEO of a major bank has been jailed to date, and the only reason Madoff was burned was because he stole from the elite.
Meanwhile, Donald Trump told law enforcement officials and financial regulators that “Chased bitcoin” in 2018 or asked to dismantle the decentralized network in 2012.
Localbitcoins merchants are arrested and jailed for “illegal money transmission” and the IRS continues to focus heavily on ordinary citizens paying their taxes on digital currency.
Where to trade Bitcoin?
Stormgain is a leveraged exchange that is revolutionizing the world of cryptocurrencies, because it also has an innovative system to mine Bitcoin in the cloud and is the official partner of the Newcastle team of the Premier League.
To celebrate its recent success, the platform is offering 25 USDT to your new users.
And it is that this Exchange has become the favorite of traders, thanks to a friendly interface, which allows trading with leverage (up to x200) to be very simple, even for the most novice traders.
Exclusively for users of CryptomonedaseICO, Stormgain is regaling 25 USDT with the first deposit, which must be a minimum of $ 110.
All you have to do is enter this link, register by entering the promotional code BONUS25 and make the first deposit of $ 110 or more, to start enjoying cryptocurrency trading with leverage of up to x200.
In addition, once registered with that link, users will be able to enjoy free trading courses and free trading signals, offered by the platform SignalsCryptocurrencies. Portal that has already been generating great profits for its users.
Promotional code: BONUS25
Make sure you don’t miss any important news related to Cryptocurrencies! Follow our news feed the way you like; via Twitter, Facebook, Telegram, RSS, or email (scroll down to the bottom of this page to subscribe). Bitcoin never sleeps. Neither U.S.
Do you use Telegram? Join the best Telegram trading community to receive Exclusive Signals to Buy and Sell cryptocurrencies, access to our Free Courses, discussions and project analysis! // www.criptomonedaseico.com