New leaks relayed by the International Consortum of Investigative Journalists reveal at least $ 2 trillion in suspicious transactions between 2000 and 2017, of which $ 514 billion relates to JPMorgan Bank, and $ 1.3 trillion to Deutsche Bank.
These Suspicious Activity Reports (SAR) raise doubts about the origin of funds, but do not necessarily constitute proof of fraud. FinCEN Files only represent barely 0.02% of the more than 12 million suspicious activity reports that financial institutions wrote between 2011 and 2017. In other words, a drop of water in the ocean.
The analysis of these secret documents more generally allows to target five global banks: JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank, and Bank of New York Mellon. Among them, in 2012, HSBC, Europe’s largest bank, based in London, admitted to laundering at least $ 881 million on behalf of drug cartels in Latin America. In a deal with prosecutors, HSBC contributed $ 1.9 billion. Standard Chartered, for its part, had been singled out for its close relationship with Arab Bank, a Palestinian-owned bank. In 2012, New York regulators concluded that Standard Chartered had “conspired with the Iranian government”, carrying out $ 250 billion in covert transactions, earning “hundreds of millions of dollars in fees” and leaving “the system American financier vulnerable to terrorists, arms dealers, drug lords and corrupt regimes ”.
Standard Chartered was ordered to pay a $ 227 million fine paid to US authorities in December 2012 as part of a deferral agreement.
