UK banks enabled ‘flow of dirty money’, leaked secret files claim

UK banks enabled ‘flow of dirty money’, leaked secret files claimBritish banks have been accused of enabling fraudsters, criminals and money-launderers, following a leak of secret files. A cache of more than 2,000 suspicious activity reports (SARs) – those filed to the authorities by banks who suspect wrongdoing – reportedly contains allegations that a number of major UK lenders allowed dirty money to flow through their accounts. Over 100 global organisations reported on the so-called FinCEN Files, which were obtained by BuzzFeed News and shared with the International Consortium of Investigative Journalists (ICIJ). Allegations in the consortium’s reporting include that HSBC allowed money from a Ponzi scheme to be transferred around the world and that a close associate of Vladimir Putin, the Russian president, may have used Barclays to launder money and avoid sanctions. The SARs contained in the leak cover more than $2 trillion (£1.5 trillion) worth of transactions, conducted between 1999 and 2007.




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