TEMPO.CO, Jakarta – The International Consortium of Investigative Journalists, ICIJ) together with BuzzFeed News and 108 other media partners in 88 countries obtained leaked documents belonging to the United States government. This document contains intelligence reports of financial institutions in America against odd transaction several large banks suspected of passing money laundering practices.
Buzzfeed News is the first media to obtain this document called FinCEN Files. They then distributed it to the ICIJ network. For more than 16 months, ICIJ analyzed this data. In addition, this journalist consortium has also collected various additional documents, either court files or interviews of hundreds of people, to support the FinCEN leak.
As a result, ICIJ found more than 2,100 suspicious activity reports (SAR) submitted by various banks in America to an intelligence unit of the United States Department of the Treasury known as the Financial Crimes Enforcement Network (FinCEN).
This investigation revealed how the big banks were suspected of hiding hot money from illegal transactions such as pension fraud, illegal gold mining, narcotics sales, and other criminal activities. The FinCEN document also reveals how money laundering is a source of perpetuating corrupt and anti-democratic authoritarian regimes around the world.
Not only that. Ministry of Finance documents United States of America it also reveals how major banks continue to move large amounts of cash on suspicion of illegal transactions. In fact, the British and US authorities have imposed sanctions on this financial institution.
What banks are suspected of being involved in this suspicious transaction? Read more …
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