FinCEN files: New leak uncovers global dirty money flows
Secret US government documents reveal that global banks have played a role in moving around staggering sums of cash for shadowy characters and criminal networks that have spread chaos and undermined democracy around the world.
The records show that five global banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon, kept profiting from powerful and dangerous players even after US authorities fined these financial institutions for earlier failures to stem flows of dirty money.
The leaked documents, known as the FinCEN Files, include more than 2,100 suspicious activity reports filed by banks and other financial firms with the US Department of Treasury’s Financial Crimes Enforcement Network.
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The agency, known in short as FinCEN, is an intelligence unit at the heart of the global system to fight money laundering.
BuzzFeed News obtained the records and shared them with the International Consortium of Investigative Journalists.
ICIJ organised a team of more than 400 journalists from 110 news organisations in 88 countries, including Times of Malta, to investigate the world of banks and money laundering.
Times...