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Big banks let $2 trn in illicit funds move around world: FinCEN Files

Almost 90 financial institutions appear in the roughly 2,100 documents obtained, a fraction of the 2 million reports filed annually.

The top two banks are Deutsche Bank, which disclosed $1.3 trillion of suspicious money in the files, and JPMorgan, which disclosed $514 billion
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The top two banks are Deutsche Bank, which disclosed $1.3 trillion of suspicious money in the files, and JPMorgan, which disclosed $514 billion

Yueqi Yang, Jenny Surane & Yalman Onaran | Bloomberg New York
A cache of leaked documents suggests increased scrutiny on suspect transactions at banks does little to stem the flow of trillions of dollars linked to suspicious activity. Shares of the biggest global lenders fell Monday.
 
A new investigation by the International Consortium of Investigative Journalists says JPMorgan Chase, Deutsche Bank and HSBC Holdings were among the global banks who “kept profiting from powerful and dangerous players” in the past two decades even after the US imposed penalties on these financial institutions.
 
The documents detailed more than $2 trillion in transactions between 1999 and 2017 that were flagged by

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First Published: Sep 22 2020 | 1:22 AM IST

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