FinCEN Files: Investigation into Dirty Money Transfers from Major Global Banks

At least $ 2 trillion in suspicious transactions were carried out between 2000 and 2017 by several major global banks. This is what an investigation by the International Consortium of Investigative Journalists, made up of 400 journalists from the media in 88 countries, including the investigation units of Radio France and the newspaper Le Monde, reveals.
For their investigation, ICIJ journalists were able to obtain "suspicious activity reports". These are top-secret documents that US bank internal compliance officials send to US financial intelligence agencies when they detect questionable money transfers.

According to these documents, 2,000 billion dollars in suspicious transactions may have been carried out. It is dirty money linked to drugs, corruption, organized crime and terrorism.

Large banks are singled out like JP Morgan, Deutsche Bank, Bank of New York Mellon or HSBC. They ensure, however, that they make significant efforts to combat financial crime an…

Bombardier Becomes Penny Stock Again

The title of the Quebec aircraft manufacturer fell below $ 1 on the Toronto Stock Exchange, falling more than 11% from the previous day. It is the first time since the end of January 2016 that Bombardier shares are listed in cents. Since 2:25 pm, the title flirted with the dollar, also dropping down to $ 0.98. This is more than 81.7% down from its most recent high of $ 5.41 on July 8, 2018.

Bombardier Becomes Penny Stock Again

Bombardier had a difficult start to the year. Following the unveiling of the first A220 aircraft, the former Air Canada-styled C-Series, the company revised its fourth quarter results downward. When the markets closed on January 16, 2020, the stock lost more than 31% on the Toronto floor.

The aircraft manufacturer justified this revision by measures taken to redress its Transport division, a little less than a month before the planned date of the release of its results. Recall that the company was juggling with debt of more than 9.3 billion US dollars (G $ US) according to analysts' estimates.

For almost a month, there have been several rumors of Bombardier's next actions. Some were betting on the sale of the business jet division to the American Textron, while others believed that Alstom would grapple with the railroad division of the Quebec manufacturer.


On February 12, Bombardier confirmed that Airbus and Quebec would buy out its stake in the controversial A-220 program. The transaction raised $ 591 million US, and relieved him of a mandatory payment of $ 700 million US to the coffers of the A-220.

Five days later, Bombardier's rail division was sold to French Alstom for US $ 8.2 billion. The business aircraft manufacturer received an envelope that contained between US $ 4.2 billion and US $ 4.5 billion in this transaction.