Leaked Docs Show Major Banks Helped Criminals Launder Billions of Dollars

HeadlineSep 21, 2020

A huge trove of leaked documents reveals how global banking giants helped to launder vast sums of money for drug traffickers, Russian oligarchs, weapons dealers and criminal networks around the world. BuzzFeed News obtained more than 2,100 suspicious activity reports filed by banks with the U.S. Treasury’s Financial Crimes Enforcement Network, or FinCEN, accounting for some $2 trillion in suspicious transactions.

Among the new revelations: HSBC laundered over $880 million for Latin American drug cartels, Barclays helped Vladimir Putin’s associates avoid financial sanctions on Russian oligarchs, and JPMorgan Chase helped Donald Trump’s former campaign chairman Paul Manafort move millions of dollars between shell companies — even as Manafort faced charges of money laundering and corruption.

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