An international investigative journalist investigation published on Sunday revealed that huge amounts of suspicious money flowed for years through the largest banking institutions in the world, and the investigation denounced the large loopholes in the laws of the banking sector that criminals easily exploit.
The investigation conducted by BuzzFeed News and the International Consortium for Investigative Journalism (ICIJ), with the participation of 108 media organizations from 88 countries, said, "The profits from the bloody drug gang wars and the looted wealth from developing countries and the savings their owners worked hard to collect and then It was robbed in a Ponzi fraudulent manner, which allowed it to flow to and from these banking institutions despite the warnings of the employees of these banks. "
Leaked documents
The investigation is based on thousands of leaked documents of suspicious activity reports that were filed with the Financial Crime Agency at the US Treasury.
Buzzfeed wrote in the introduction to the investigation, "These documents - which were collected by banks and shared with governments, but kept out of public sight - reveal gaps in the protection measures of banks and the ease with which they are exploited by criminals."
The documents, called the "FinCEN Files", talk about transfers of nearly two trillion dollars in suspicious funds that were circulating between 1999 and 2017.
5 major banks
The investigation refers in particular to 5 major banks, namely JPMorgan Chase, HSBC, Standard Chartered, Deutsche Bank and Deutsche Bank. New York Mellon is accused of continuing to transfer assets of presumed criminals, even after she has been sued or convicted of financial misconduct.
The website stated that the networks through which dirty money passes around the world have become a vital artery for the global economy.
Deutsche Bank said in a statement that what the International Federation of Investigative Journalists revealed was "well known" by its officials in relation to regulatory matters, adding that it had devoted significant resources to strengthening its monitoring tools, in addition to focusing on "fulfilling our responsibilities and obligations."
The investigation stressed the US authorities ’lack of the necessary powers to control dirty money transfers.
The US Financial Crime Agency said in a statement issued before the investigation was published that the unauthorized disclosure of reports of suspicious activities is a crime that could harm the national security of the United States.