In some documents sent to FinCEN, the US Financial Crimes Unit, it was shown how people escaped from bans and sanctions using US dollars and how the world’s largest banks played a role in this.
In these documents leaked from FinCEN, which includes transactions of $ 2 trillion, it is seen that banks do not prevent many money movements from money laundering to terrorist financing and drug trafficking.
The documents revealed how the Russian oligarchs, who were forbidden to carry their money to the West, overcame the sanctions by using the banks.
Leaked documents; Covers transactions over the past five years, including collusion, money laundering and financial crimes. These records, also known as FinCEN files, consist of suspicious transactions between 2000 and 2017 that banks sent to the US authorities. Banks report actions to US authorities as suspicious transactions.
It is stated that the leaks created by 2500 files are the most protected secrets of the international banking system.
These documents were distributed by Buzzfeed News to 108 organizations in 88 countries. Journalists working in these organizations often deal with files involving financial crimes.
Such suspicious movements are reported to FinCEN, a sub-unit of the US Treasury, from all world banks. However, the bank cannot play a role in proving the crime. Only if the transaction is deemed suspicious, it transfers it to the US institution. Nor does the bank have to be US-based to report transactions. Making the transaction in US dollars is seen as a sufficient reason.
What’s in the leaked documents?
British bank HSBC’s involvement in moving millions of dollars stolen by fraudsters around the world.
US-based JP Morgan allowed more than $ 1 billion to move through a corporate account in London, although it is not known to whom it belongs. In the leaked information, it was reported that the bank later learned that this account belonged to a mafia leader who was among the top 10 on the FBI’s wanted list.
Evidence that one of Russia’s president Vladimir Putin’s closest partners is using the Barclays Bank in London to evade sanctions that prevent him from using financial services in the West. Some of the money was used to purchase artworks…
The Central Bank of the United Arab Emirates not making warnings about a local company that Iran helped to evade sanctions.
Deutsche Bank, the giant bank of Germany; members of organized crime, terrorists and drug traffickers taking part in money laundering and allowing money to move …
Standard Chartered’s client accounts allowing cash to be moved for 10 years after it was revealed that they were financing terrorism through a Jordanian bank.