Global banks defy U.S. crackdowns by serving oligarchs, criminals and terrorists [View all]

[muriel_volestrangler]

Source: Internat. Consortium of Investigative Journalists

Secret U.S. government documents reveal that JPMorgan Chase, HSBC and other big banks have defied money laundering crackdowns by moving staggering sums of illicit 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 U.S. authorities fined these financial institutions for earlier failures to stem flows of dirty money.
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JPMorgan, the largest bank based in the United States, moved money for people and companies tied to the massive looting of public funds in Malaysia, Venezuela and Ukraine, the leaked documents reveal.
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JPMorgan also processed more than $50 million in payments over a decade, the records show, for Paul Manafort, the former campaign manager for President Donald Trump. The bank shuttled at least $6.9 million in Manafort transactions in the 14 months after he resigned from the campaign amid a swirl of money laundering and corruption allegations spawning from his work with a pro-Russian political party in Ukraine.

Read more: https://www.icij.org/investigations/fincen-files/global-banks-defy-u-s-crackdowns-by-serving-oligarchs-criminals-and-terrorists/

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The BBC on the HSBC files: https://www.bbc.co.uk/news/uk-54225572
and the UAE: https://www.bbc.co.uk/news/world-middle-east-54176127
and Barclays laundering for a Putin associate: https://www.bbc.co.uk/news/uk-54225577

Deutsche Bank tops the list in amount of dubious transactions: $1.3 trillion. Of course they're Trump's bankers.