The news is out: [A congressional investigation into the 2016 U.S. presidential election has unearthed evidence that major banks processed $2 trillion in transactions despite suspecting they were connected to illegal activity.
So-called suspicious activity reports, filed by banks with government regulators, indicate the banks were concerned the transactions would help suspected terrorists, drug dealers, corrupt foreign officials and other bad actors move trillions of dollars around the world. The private reports, which covered 1999 through 2017, were obtained by BuzzFeed News and shared with the nonprofit International Consortium of Investigative Journalists.
In its report, BuzzFeed said the documents show “how the giants of Western banking move trillions of dollars in suspicious transactions, enriching themselves and their shareholders while facilitating the work of terrorists, kleptocrats and drug kingpins.”
The ICJI said the private filings with regulators show that some of the largest U.S. banks “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.”]
In 2015, five of the world’s biggest banks were hit with a combined bill of more than $5 billion and criminal charges in a settlement with U.S. and British authorities over rigging of currency markets.
Your call is very important to us. So please enjoy this 40 minute flute solo. But if you are a criminal, just come on in, you are family.