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…

CoronaVirus: around 90% of manufacturing companies will close | Canada

This is undoubtedly unheard of in Quebec’s contemporary history: about 90% of manufacturing companies will have to close their doors until April 13, a situation that is most worrying Quebec Manufacturers and Exporters (MEQ). "We understand the decision, but we fall at the bottom of our chair," drops MEQ CEO Véronique Proulx, saying that she has had "no signal" announcing such a decision.
CoronaVirus: around 90% of manufacturing companies will close | Canada

In Quebec, the manufacturing sector has 2300 companies that employ 500,000 workers, and whose sales total C $ 165 billion per year. According to MEQ's estimate, about 90% of businesses could close. On Monday noon, Prime Minister François Legault ordered non-essential businesses to cease all activities by midnight Tuesday night until April 13 to limit the spread of coronavirus in Quebec.

As Ontario has made the same decision, this means that Canada's manufacturing core is on hiatus for the next three weeks. This means that tens of thousands, and possibly hundreds of thousands, of workers will find themselves on forced leave. There are, however, several exceptions to this measure, including grocery stores, pharmacies, food chain components, firefighters, police and of course the health service.

While the official list has just been published, several companies in the manufacturing and industrial sectors contacted by The Canadian Press had no clear answer to offer in the wake of the Legault government's announcement. In a press release, Cascades, which manufactures toilet paper and packaging, said it ensures "continuity" of its activities. "

Subsidies, not just loans, MEQ says.

Of course, businesses that can do so have permission to continue operating remotely, including using communications technologies or software to operate production lines remotely.

Véronique Proulx believes that this decision by the Legault government broadly spares four major sectors deemed essential, namely the food, energy, medical, as well as transport and logistics. According to her, essential companies also include suppliers to producing companies in these four major sectors. The closure of some 90% of Quebec's manufacturing companies worries Véronique Proulx.

"Our concern is that many manufacturing SMEs cannot get through this crisis," she said. According to her, although they suffer from this situation, large companies often have stronger backs to absorb such a shock. This is why MEQ is asking the Legault government to improve and diversify its aid to give business oxygen.

"Quebec currently offers loans, that's good. But they have to be reimbursed. However, there is a limit to corporate debt. So add subsidies and measures to provide liquidity quickly, ”says Véronique Proulx. Quebec could, for example, quickly decree a moratorium on the tax burdens of businesses such as those for the CSST. "This would quickly provide cash and cash to businesses," she said. Investissement Québec could also transform loans into grants, suggests the CEO of MEQ.