The FinCEN files scandal explained - and how HSBC bank is involved
UK-based banks let criminals and fraudsters move dirty money around the world, according to leaked banking documents.
BBC Panorama has revealed that more than 2,000 sensitive banking papers detailing over two trillion US dollars were leaked to BuzzFeed News and subsequently shared with the International Consortium of Investigative Journalists.
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Hide AdThe papers allege that HSBC continued to allow the runners of a Ponzi scheme to transfer money, despite having knowledge of the scam. It is also claimed that Russian oligarchs used banks to funnel money to the West, despite being covered by sanctions.
JP Morgan is also alleged to have moved $1 billion through a London account without knowing the source of the money, before later discovering that the balance may have been owned by a gangster boss on the FBI’s top 10 most wanted list.