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…

OPEC, Russia and their allies agree to cut production by 20 million barrels per day

20 million barrels a day. This is the level of reduction in oil supply that will now be applied by OPEC member countries and their allies led by Russia. The decision has just been made and is reported by the Reuters news agency. It exceeds market expectations which anticipated a reduction of between 10 and 15 million barrels per day.
 
OPEC, Russia and their allies agree to cut production by 20 million barrels per day

The reduction methods and quotas linked to each producer are not yet known.

Following the announcement, US West Texas Intermediate (WTI) jumped 12% to $ 28.36 a barrel, while Brent gained 8.5% to $ 35.79 a barrel. What give a slight breath of fresh air to all industry stakeholders.

Despite Russian demands, the United States will not participate in this reduction. The US Department of Energy has said that production in the country is already declining. A posture which should in principle involve more responsibility on the part of shale oil producers known for their frantic production. In the event of a new shale boom, instability will continue.




The coming days will give us a better idea of ​​the real impact of this decision on crude oil prices. In any case, at less than 50 dollars per barrel, oil is still not very profitable for certain actors in the chain and the shortfall for certain countries in particular those of Africa strongly dependent on the oil windfall, remains substantial .

Russia has already said it will make do with a 42-dollar barrel, about 10 to 15 dollars more than current levels.

The United States currently produces about 15 million bpd, followed by Saudi Arabia with 12 million bpd and Russia with 10 million bpd.