Banks help Criminals Move 2 Trillion $s

D

DesiDucati

Well-known member
This news is about the criminals and the corrupt banking system so I’m not sure if it belongs in the Politics section.


youtu.be/7o5OKt3S5Mw

The more news like this surfaces, the more cynical I feel. These systems we have in place are supposed to uphold our moral values right? Why do they keep telling everyone to follow the rules when they themselves don’t?
 
wazzuFreddo

wazzuFreddo

WuTang is 4 the children
KlRo.gif
 
yodaisgod

yodaisgod

KHAAAAAN!
I have to be honest, I can't really be upset by this. Not sure how this affects my life directly. I wish I had fuck you money to launder.
 
CABilly

CABilly

Splitter
yodaisgod said:
I have to be honest, I can't really be upset by this. Not sure how this affects my life directly. I wish I had fuck you money to launder.
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Because the your bank will report suspected illicit activity to the IRS which will happily prosecute you and send you to prison if you neglect to claim income but if you launder a few trillion dollars they got your back.
 
Yakoo752

Yakoo752

USN
CABilly said:
Because the your bank will report suspected illicit activity to the IRS which will happily prosecute you and send you to prison if you neglect to claim income but if you launder a few trillion dollars they got your back.
Click to expand...

We found out about this because the banks did what they were supposed to do. File the appropriate paperwork.

Next question, why didn't anyone do anything about it?
 
CABilly

CABilly

Splitter
Yakoo752 said:
We found out about this because the banks did what they were supposed to do. File the appropriate paperwork.

Next question, why didn't anyone do anything about it?
Click to expand...

Oh well then that’s good. I was thinking about the scandal a few years ago with the banks and the Mexican cartels.
 
Beauregard

Beauregard

Aut Agere Aut Mori
Oh no! You mean banks are corrupt and influenced by money not morals? Fuck! Next you'll be telling me insurance companies aren't actually looking out for me either!
 
Archimedes

Archimedes

Fire Watcher
Read the article about this yesterday, but what people don't realize is that the banks don't have the right to refuse deposits without a legal basis. Their responsibility is to report suspicious activity. It is the authorities responsibility to investigate and prosecute it. The failure here is on the part of law enforcement in not pursuing the cases that they are handed by the banks through the suspicious activity report. The banks aren't able to investigate and prosecute these parties and if they refuse to do business with them without legal basis, they can expose themselves to massive liability lawsuits. What pisses me off is that worldwide, including in the U.S., law enforcement has refused to dedicate enough resources to anti-money laundering efforts. It's a fucking joke and always has been.
 
gnahc79

gnahc79

Fear me!
Archimedes said:
Read the article about this yesterday, but what people don't realize is that the banks don't have the right to refuse deposits without a legal basis. Their responsibility is to report suspicious activity. It is the authorities responsibility to investigate and prosecute it. The failure here is on the part of law enforcement in not pursuing the cases that they are handed by the banks through the suspicious activity report. The banks aren't able to investigate and prosecute these parties and if they refuse to do business with them without legal basis, they can expose themselves to massive liability lawsuits. What pisses me off is that worldwide, including in the U.S., law enforcement has refused to dedicate enough resources to anti-money laundering efforts. It's a fucking joke and always has been.
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dunno seems like the banks could have done something?

https://www.bbc.com/news/uk-54226107

If you are planning to profit from a criminal enterprise, one of the most important things to have in place is a way of laundering the money.

Laundering money is the process of taking dirty money - the proceeds of crimes such as drug dealing or corruption - and getting it into an account at a respected bank where it will not be linked with the crime.

The same process is needed if you are a Russian oligarch whom Western countries have taken sanctions against to stop you getting your money into the West.

Banks are supposed to make sure they don't help clients to launder money or move it around in ways that break the rules.

By law, they have to know who their clients are - it's not enough to file SARs and keep taking dirty money from clients while expecting the authorities to deal with the problem. If they have evidence of criminal activity they should stop moving the cash.

Fergus Shiel from the International Consortium of Investigative Journalists (ICIJ) said the leaked files were an "insight into what banks know about the vast flows of dirty money across the globe".
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