Thread by @mog7546

#FinCEN Files: 8 Big Takeaways From Our BuzzFeed News Investigation

1) Big banks around the world approve trillions of dollars of suspicious transactions despite their own staff’s warnings that they might be related to crime

2) THE #US GOVT KNEW

#MOG
buzzfeednews.com/article/jasonl…

3) Banks sometimes fail to take even basic steps to root out financial crime, such as determining whose money they are actually moving.

4) #HSBC, Europe’s largest bank, got a second chance after becoming a key financial conduit for narcotraffickers and money launderers...

#MOG

5) Our investigation found that well before the MIRROR TRADES — one of the biggest money laundering schemes in memory — became an international scandal for #DeutscheBank, top executives there had been warned the bank was at risk of being exploited by criminals.

#MOG

6) The #FinCEN Files investigation also documented that after they were singled out for misconduct, #JPMorganChase #BankofNewYorkMellon #HSBC #StandardChartered, and #DeutscheBank CONTINUED TO MOVE MONEY for suspected criminals.

#MOG

8) THE BANKS DON’T WANT CHANGE

The problems described in this series have been around for decades. They won’t be easy to fix, and there are powerful forces aligned to MAINTAIN THE STATUS QUO.

#MOG