Bankster Crime

Exposing Fraud in the Banking System

Coffee Bean Direct

How Big Banks Have for Years Engaged With Dirty Money, While the Working Class Struggle

Featured Story

It Is the Elitist Way of Doing Things and the New World Order Will Even Be More Corrupt…

  • The agency, which operates under the Treasury Department, compiles “suspicious activity reports” when it detects potential or evident financial crimes.
  • Banks such as JPMorgan Chase, HSBC, and Deutsche Bank facilitated the movement of criminal money even after getting caught, the agency reported.

Thousands of leaked documents shared with hundreds of journalists reveal how some of the world’s biggest banks have for years facilitated the movement of dirty money. 

The documents are part of a collection of files that belongs to the Financial Crimes Enforcement Network, an agency operating under the Treasury Department to detect and prevent financial crimes, and were first published by Buzzfeed and the International Consortium of Investigative Journalists.

The agency is in charge of compiling “suspicious activity reports” when it detects potential or evident financial crimes. The documents are distributed and shared with law enforcement and financial intelligence groups around the world, but the agency does not force banks engaging in financial crimes to stop, BuzzFeed News, which obtained the leaked documents, reported

The report said banks such as JPMorgan Chase, HSBC, and Deutsche Bank, among others, engaged with and facilitated the movement of criminal money even after getting caught. 

The files detail movements and transactions for almost two decades, starting from 2000 and continuing into 2017. 

“These documents, compiled by banks, shared with the government, but kept from public view, expose the hollowness of banking safeguards, and the ease with which criminals have exploited them,” Buzzfeed reported. “Profits from deadly drug wars, fortunes embezzled from developing countries, and hard-earned savings stolen in a Ponzi scheme were all allowed to flow into and out of these financial institutions, despite warnings from the banks’ own employees.”

Here are some of the biggest revelations to come out of the bombshell report: 

A Ponzi scheme to move millions of dollars around the world

FILE PHOTO: A man walks past a logo of HSBC at its headquarters in Kuala Lumpur, Malaysia August 6, 2019. REUTERS/Lim Huey Teng/File Photo
A man walks past a logo of HSBC at its headquarters in Kuala Lumpur. 

HSBC allowed fraudsters involved with WCM777, a Ponzi scheme, to move millions of dollars around the world, the BBC reported. 

The bank was notified by US investigators that the business was a scam, but fraudsters working with WCM777 were still able to move around more than $15 million. At the time of notice, WCM777 was barred from conducting business in three states. 

The Ponzi scheme that ran out of WCM777 victimized thousands of Asian and Latino immigrants, according to the BBC and BuzzFeed News, targeting poor communities in various nations around the world.

Read the full report from the BBC here.

Big banks processed huge transactions affiliated with a politician wanted by Interpol

FILE PHOTO: A man walks into the JP Morgan headquarters at Canary Wharf in London May 11, 2012.  REUTERS/Dylan Martinez/File Photo
A man walks into the JP Morgan headquarters at Canary Wharf in London. 

JP Morgan Chase, along with Bank of America, Citibank, and American Express, processed huge transactions affiliated with a former Kazakhstan mayor wanted by Interpol, BuzzFeed News reported. 

The family of Viktor Khrapunov used JP Morgan Chase to handle millions of dollars in transactions. Khrapunov, the former mayor, ran off to Switzerland but Kazakhstan attached to his charges of bribe-taking, among others.

Putin associate used a big bank to evade sanctions and launder money

FILE PHOTO: A Barclays bank office is seen at Canary Wharf  in London, Britain May 19, 2015. REUTERS/Suzanne Plunkett
A Barclays bank office is seen at Canary Wharf in London. 

A close associate of Russian President Vladimir Putin used Barclays Bank as a way to avoid sanctions and launder money, the BBC reported. 

The United States and the European Union in 2014 imposed sanctions on Arkady Rotenberg, a billionaire close to Putin, restricting him from conducting business with Western banks. 

Barclays has not admitted any wrongdoing. 

You can start by encouraging contactless payments on an easily sanitized device like Square Terminal VISIT SITE

$142 million worth of suspicious transactions

Central Bank of The U.A.E. in Dubai, United Arab Emirates
Central Bank of The U.A.E. in Dubai, United Arab Emirates. 

The United Arab Emirates’ central bank in 2011 and 2012 processed $142 million, despite the transactions being labeled as suspicious, the BBC reported.

A British bank noted the activity, flagging it out of suspicion. But the Gunes General Trading, the firm responsible for pushing the transactions through the central bank, continued to use local financial institutions to process them.

Read the full report here.

Movement of money for organized crime, terrorists, and drug traffickers

FILE PHOTO: People walk past a Deutsche Bank office in London, Britain July 8, 2019. REUTERS/Simon Dawson
FILE PHOTO: People walk past a Deutsche Bank office in London. 

Deutsche Bank facilitated the movement of money for organized crime, terrorists, and drug traffickers, according to BuzzFeed News.

Managers and top executives at Deutsche Bank knew that the bank was susceptible to criminals seeking money laundering services, according to documents reviewed by BuzzFeed News.

When reached for comment, the bank said it’s “learnt from our mistakes” and billed itself a “different bank” now.

Read the full report here.

Source: businessinsider

StevieRay Hansen
Editor, BankstersCrime

God often uses men who are not of the best moral character. Pharaoh, Nebuchadnezzar, Cyrus, Herod, and Trump (amongst others), to accomplish His will in events He orchestrates during human history. We either trust the sovereignty of God or we don’t. Nothing happens apart from Him…

The best index to a person’s character is how he treats people who can’t do him any good, and how he treats people who can’t fight back…

The Birth Pains Are Growing Stronger….

One of the signs of ruling class collapse is when they can no longer enforce the rules that maintain them as a ruling class. When the Romans started making exceptions to republican governance, it was a matter of time before someone simply decided the rules no longer applied to them. Perhaps the robot historians will consider Obama our Marius or Sulla. Maybe that person is in the near future. Either way, the rule of law is over and what comes next is the rule of men.

“Don’t piss down my back and tell me it’s raining.” Outlaw Josey Wales

WE NOW LIVE IN A WORLD THAT IS PURE FABRICATION

BanksterCrime

Don't Miss

By BanksterCrime

Crypto Tries to Recreate the Koch Money Machine to Pack Congress with Shills BanksterCrime: Editor’s Note: For watchdog Better Markets’ detailed analysis of crypto’s “track…

Read More

By BanksterCrime

HNewsWire: Crypto Just Got Exponentially More Dangerous: Meet Fairshake By Pam Martens and Russ Martens, The first thing you need to know about crypto is that…

Read More

By BanksterCrime

Nvidia Hit a $3 Trillion Market Cap Last Week; Dark Pools Are Making Over 300,000 Trades in the Stock Weekly BanksterCrime: y Pam Martens and…

Read More

By BanksterCrime

BanksterCrime: A Former Exec at Citibank Raises Alarm Bells in Federal Court Over Failed Risk Controls Inside the Bank By Pam Martens and Russ Martens,…

Read More

By BanksterCrime

BanksterCrime: By Pam Martens and Russ Martens: April 2, 2024 ~ Jamie Dimon, Chairman and CEO of JPMorgan Chase, Shows Off Presidential Cuff Links While…

Read More

StevieRay Hansen

In his riveting memoir, "A Long Journey Home", StevieRay Hansen will lead you through his incredible journey from homeless kid to multimillionaire oilman willing to give a helping hand to other throwaway kids. Available on Amazon.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *