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This is quite a graphic on the dirty business of money laundering. bloomberg.com/graphics/2019-…
🤔. Continue to reach as much as $2 TRILLION a year. 
Citi ➡️ Banamex. 5 years. $8.8 billion. $237 million fine.
JPMorgan. 15 years. $65 billion. $2.05 billion fine.
Wachovia. Now Wells Fargo. 3 years. At least $373 billion. $160 million fine.
Liberty Reserve. $6 billion. 20 year sentence for founder.
PDVSA. $1.2 billion. 10 year prison sentence for banker.
Standard Chartered. Fined $967 million for violating sanctions with Iran and weak controls.
HSBC. $670 billion in wire transfers. More than $9.4 billion in US currency purchases. Fined $1.9 billion.
Danske Bank. Think this is an old figure. 9 years. $230 billion.
ING. Fined $900 million for “serious shortcomings” to prevent illicit payments by VimpelCom (now VEON).
Deutsche Bank. Billions in mirror trades. Fined $670 million.
Commerzbank. 6 years. More than $250 billion. Iran/Sudanese. Fined $1.45 billion.
Teodoro Nguema Obiang Mangue. Son of president of Equatorial New Guinea. More than $300 million over 8 years. Seized about $30 million in assets.
Bangladesh Hackers. Stole more than $81 million using SWIFT
1MDB. 6 years. More than $4.5 billion.
Commonwealth Bank of Australia. More than 53,000 breaches of money laundering laws. Funneled millions offshore. Fined A$700 million.
Imho. One way to make a dent would be bigger consequences.
Ex: Banamex.
Ex JP Morgan in 2014. Year they settled.
Until you make it less profitable to launder ...
I mean hell. Danske. Here’s Deutsche. Citi. JP Morgan.
Pfft. Citi. news.bloomberglaw.com/us-law-week/ci…
