Prosecutors fined the bank $15.8 million for its failure, on more than 600 occasions, to promptly submit reports that would have alerted criminal investigators to suspicious transactions.
ICIJGerman prosecutors will not pursue charges against Deutsche Bank staff suspected of helping launder dirty money, instead fining the bank $15.8 million, which is equivalent to just 0.06% of the $26.4 billion in total net revenues it generated last year.
Sen. Sherrod Brown calls for criminally prosecuting executives who profit from moving money for criminals and corrupt regimes.
ICIJ“One or two big-deal bankers going to jail, and the world will change a bit," U.S. @SenSherrodBrown, the top Democrat in the Senate banking committee, said in response to #FinCENFiles, our new investigation on how banks profit from the flow of dirty money.
The territory’s secrecy rules have long attracted criminals and secretive companies created there have featured in several ICIJ investigations on offshore finance.
ICIJThere is currently no simple way for members of the public, journalists, or lawyers to identify a BVI company’s owner, which is key to determining whether laws have been broken and help trace money, homes or other assets in a divorce or other dispute.
A session of European Parliament focused on the need for stronger oversight of money flows across the European Union to fight money laundering.
ICIJEuropean lawmakers are calling for widespread reform of how the banking industry is regulated in Europe and demanding a more coordinated approach to fighting money laundering during a parliamentary debate Thursday in response to #FinCENFiles revelations.
CMVM says Portuguese auditors broke anti-money laundering laws to help Angolan billionaire Isabel dos Santos grow her business empire.
ICIJA Portuguese regulator that discovered cases in which auditors had not stopped possible money laundering and did not report required suspicious transactions to Portugal’s financial intelligence unit is now calling for criminal prosecution. #LuandaLeaks
The Kaloti probe offers rare insight into the illicit gold trade.
ICIJ“Money goes in, money goes out and nobody enforces anything.” John Cassara, a former U.S. Treasury special agent talks about the UAE.
“The ruling family pays lip service to following the rules... anything goes.” bit.ly/32Ovv7O #FinCENFiles
New York’s financial regulator acknowledged that the financial system is “awash with trillions of dollars in dirty money,” and has called on banks to help fix it.
ICIJIndustry “insiders” have long known that the financial system is “awash with trillions of dollars in dirty money,” says top NY banking regulator @LindaLacewell. She's calling on bankers to help fix the broken system in the wake of #FinCENFiles.
Harald Joachim von der Goltz was sentenced to four years for wire and tax fraud, money laundering, false statements and other charges.
ICIJ"This wasn’t a crime that involved shades of gray. It was a blatant fraud that involved doctoring documents and making false statements," prosecutors said at the sentencing of Harald Joachim von der Goltz, whose crimes were revealed by #PanamaPapers.
The FinCEN Files investigation exposes tensions between British bank’s New York and London operations.
ICIJBarclays has a 'Little Book of Wonders' that offers ways to attract ultra-rich individuals – from hot air balloon trips, vacations in the Maldives, and a flight to space. Private bankers compete globally to manage about $200t in global personal wealth.
The FACTI panel cited ICIJ investigations for bringing financial crimes and tax justice to the world’s attention, but says reform has been slow to come when wrongdoing is exposed.
ICIJGovernments and banks around the world are doing little to tackle tax abuses, money laundering and corruption in a global financial system that perpetuates inequality and condemns people to endemic poverty, a high-level United Nations panel concluded.
Thousands of financial institution employees flagging transactions that somehow don’t look right are the world’s first line of defense against money laundering.
ICIJSuspicious activity reports must be filed within 30 days of potential criminal activity being detected.
The median reporting time for SARs in #FinCENFiles was nearly half a year – since the suspicious activity started. bit.ly/35ZKz4mpic.twitter.com/T2r6a3IlIa
JPMorgan Chase, HSBC, Deutsche Bank, Standard Chartered and Bank of New York Mellon took a hit.
ICIJ“It’s time to overhaul our anti-money laundering system and prioritize the fight against illicit finance,” the @FACTCoalition said in a statement on #FinCENFiles, calling on the U.S. Congress to pass a bill to end the creation of anonymous companies.
These are the people zipping money across the world thanks to the global banking system.
ICIJA cast of colorful characters from Kazakhstan to Venezuela and Senegal, explore our Confidential Clients interactive and trace their money as it zips across the world, according to #FinCENFiles documents. #ddj
The FinCEN Files show trillions in tainted dollars flow freely through major banks, swamping a broken enforcement system.
ICIJNEW: Together with @buzzfeednews and 108 other media organizations we reveal the #FinCENFiles – our latest cross-border investigation.
Using super secretive bank documents and months of reporting, we expose how banks fail to stop dirty money flows.
ICIJExperts told us that to stop banks from moving huge sums of illicit cash penalties would need to increase – and include jail time for those who break the rules. bit.ly/2ZSrbCP #FinCENFies pic.twitter.com/Ape36MQ5f7
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ICIJ#FinCENFiles – coming tomorrow at 1 pm ET and 5 pm GMT – exposes how money looted from government treasuries, scammed from pensioners, and generated through drug sales has been hidden across the world.
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Zimbabwe's tax authorities have accused ABB, one of Switzerland’s most profitable companies, of avoiding $13.4 million in taxes, according to court filings and other documents obtained by ICIJ.
ICIJ"There is some evidence that developing countries are harder hit by multinationals' ability to shift profits," says @thesailaway_CPH.
In Zimbabwe, 90% of children younger than two do not have enough to eat.
An ICIJ member since 2001, Dutch investigative journalist Joop Bouma knows about the power of collaborations – we spoke with him as he wrapped up a career spanning more than 45 years.
ICIJAward-winning journalist Joop Bouma became an ICIJ member in 2001 when he met then-director, @maudbeelman, at the first world conference of investigative journalists in Copenhagen.
He looks back on his 45+ years in the business. #MeetTheInvestigators