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FinCEN leak

pauldun170

Diamond Member
Sep 26, 2011
7,330
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Figure start a thread up to start capturing some of this...
What has been revealed?
  • HSBC allowed fraudsters to move millions of dollars of stolen money around the world, even after it learned from US investigators the scheme was a scam.
  • JP Morgan allowed a company to move more than $1bn through a London account without knowing who owned it. The bank later discovered the company might be owned by a mobster on the FBI's 10 Most Wanted list.
  • Evidence that one of Russian President Vladimir Putin's closest associates used Barclays Bank in London to avoid sanctions which were meant to stop him using financial services in the West. Some of the cash was used to buy works of art.
  • The UK is called a "higher risk jurisdiction" like Cyprus, according to the intelligence division of FinCEN. That's because of the number of UK registered companies that appear in the SARs. Over 3,000 UK companies are named in the FinCEN files - more than any other country.
  • The United Arab Emirates' central bank failed to act on warnings about a local firm which was helping Iran evade sanctions.
  • Deutsche Bank moved money launderers' dirty money for organised crime, terrorists and drug traffickers. More details (BuzzFeed News)
  • Standard Chartered moved cash for Arab Bank for more than a decade after clients' accounts at the Jordanian bank had been used in funding terrorism.



One of those named in the SARs is Paul Manafort, a political strategist who led Donald Trump’s 2016 presidential election campaign for several months.

He stepped down from the role after his consultancy work for former Ukrainian president Viktor Yanukovych was exposed, and he was later convicted of fraud and tax evasion.

According to the ICIJ, banks began flagging activity linked to Manafort as suspicious beginning in 2012. In 2017 JP Morgan Chase filed a report on wire transfers worth over $300m involving shell companies in Cyprus that had done business with Manafort.

The ICIJ said Manafort’s lawyer did not respond to an invitation to comment.

A separate report details over $1bn in wire transfers by JP Morgan Chase that the bank later came to suspect were linked to Semion Mogilevich, an alleged Russian organised crime boss who is named on the FBI’s top 10 most wanted list.
 
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MrSquished

Diamond Member
Jan 14, 2013
8,342
3,638
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I'm from Cyprus and the Russian influence there is very strong. It was there 20 something years ago when I went to visit but every time I go back it's just more and more. Beach towns where I used to go and see mostly a variety of Western and Northern Europeans it now sounds like you are in Minsk. The Russian mob is known to operate on the island, their influence is particularly strong in the port town of Limassol.
 

alien42

Lifer
Nov 28, 2004
11,907
1,854
126
I'm from Cyprus and the Russian influence there is very strong. It was there 20 something years ago when I went to visit but every time I go back it's just more and more. Beach towns where I used to go and see mostly a variety of Western and Northern Europeans it now sounds like you are in Minsk. The Russian mob is known to operate on the island, their influence is particularly strong in the port town of Limassol.
let us all not forget we've known about the Trump campaign and admins connection to Cyprus for several years.

 

UNCjigga

Lifer
Dec 12, 2000
22,683
4,962
136
I'm from Cyprus and the Russian influence there is very strong. It was there 20 something years ago when I went to visit but every time I go back it's just more and more. Beach towns where I used to go and see mostly a variety of Western and Northern Europeans it now sounds like you are in Minsk. The Russian mob is known to operate on the island, their influence is particularly strong in the port town of Limassol.
Very curious to learn more about the $300M that moved through Cyprus after Donald Trump was elected. Especially if Felix Sater was involved.

This isn’t really news—anyone remember this show that came out a few years back? Watch episode 1 and fast forward to see how Kal Penn goes to Cyprus with $1M in cash to get it “laundered”...and meets with Sater.

 

hal2kilo

Lifer
Feb 24, 2009
15,898
4,017
136
let us all not forget we've known about the Trump campaign and admins connection to Cyprus for several years.

Nothing is going on with Cyprus. Move on. EDIT: just a sample Google fills up at least a page of stuff like this. Was no one paying attention?

 

pmv

Diamond Member
May 30, 2008
7,402
2,621
136
I'm from Cyprus and the Russian influence there is very strong. It was there 20 something years ago when I went to visit but every time I go back it's just more and more. Beach towns where I used to go and see mostly a variety of Western and Northern Europeans it now sounds like you are in Minsk. The Russian mob is known to operate on the island, their influence is particularly strong in the port town of Limassol.
Is that anything to do with this?

I think I heard Malta does it as well. Smaller EU countries effectively sell access to the EU to rich foreigners. Something I find annoying, as they are pocketing the money for selling access to not their own countries so much as the rest of the EU (of course, I guess that's not really my concern for much longer)

 

MrSquished

Diamond Member
Jan 14, 2013
8,342
3,638
136
Is that anything to do with this?

I think I heard Malta does it as well. Smaller EU countries effectively sell access to the EU to rich foreigners. Something I find annoying, as they are pocketing the money for selling access to not their own countries so much as the rest of the EU (of course, I guess that's not really my concern for much longer)

I'm not sure. I'd have to ask relatives who live there. I do remember going there in the late 90's and there already being Russian businesses there. Cyprus joined the EU in 2004 but I'm sure it was in the works for a while.
 

UNCjigga

Lifer
Dec 12, 2000
22,683
4,962
136
We’re barely at the tip of this dark iceberg and the revelations thus far have been troubling. Just one example—how Deutsche Bank executives in Moscow laundered money for Russian mobsters by embezzling funds from US small businesses that were earmarked for payroll taxes.

In essence, US businesses were forced to layoff employees when they couldn’t foot the legal bills to set their accounts straight (one business owner even suffered a heart attack) and the bankers all got a free pass. I don’t even remember hearing about this story before and apparently it was a well known scandal?

 

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