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: During the epidemic, Airbus delivers planes electronically

Continue its activity while avoiding customers to move to its sites in the midst of a coronavirus epidemic. This is Airbus’s approach with its electronic aircraft delivery process.
Coronavirus - During the epidemic, Airbus delivers planes electronically

This ensures "the continuation of the delivery flow of Airbus aircraft, while integrating health and safety requirements" and that customers, who cannot travel in particular due to border closings, can sign the documents of delivery, explains in a press release the European aircraft manufacturer. A significant portion of the aircraft is payable on delivery. Airbus delivered 122 aircraft in the first quarter. Another 60 were produced but could not be delivered due to the epidemic.

Half of current deliveries affected

A virtual platform, dubbed “e-Sales Contracts”, allows “to be able to maintain the business, to be able to sign the planes without having a physical presence of the signatories”, explained Alain Vilanove, vice-president in charge of contractual deliveries. This procedure allows the electronic transfer of the title deed in a secure way in place of the traditional and formal "signing ceremony". Set up about 15 months ago, it has since involved nearly 50 deliveries and half of the deliveries currently, according to Alain Vilanove.

Handing over an aircraft to a customer is a cumbersome process, which takes three to four days for a medium haul and eight to ten days for a widebody. It relates first of all to the technical acceptance of the aircraft (TAC) tasks which include in particular the inspection of the aircraft on the ground, any “minor cosmetic alterations” and the acceptance test flight, according to the aircraft manufacturer.

Despite border closures

These tasks can be delegated to an Airbus representative, who will then act on behalf of the client company, or to a third party company. Then come the signing of all the documents and the delivery flight to the customer base.

On April 9, Turkish carrier Pegasus Airlines was the first to adopt this end-to-end remote process. Two of its pilots obtained an exemption to land with a private plane on the site of Airbus in Hamburg and to leave less than three hours after at the controls of an A321neo. Two A320neos have since been delivered to Pegasus using this process, despite the closure of the EU’s borders.