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: falling iron prices in a context of declining demand

Iron prices have already fallen 10% this year, trading at $ 84 per tonne in world markets on Wednesday. According to analyzes by BMO Capital and Morgan Stanley relayed by Reuters, this downward trend should continue until the end of the year with an average price between 75 and 78 $ per ton, mainly due to the effects of the pandemic from Covid-19.

Coronavirus: falling iron prices in a context of declining demand

The slowdown in global economic activity, including a drop in demand in the construction sector, has forced the largest foundries to suspend their activities. At the same time, mining production remained stable apart from a few disturbances in Australia and Brazil, the world's largest and second largest producers respectively, which led to a glut in the market.




Note that if the situation is not yet dramatic because of the steel production levels in China (decrease of 1.7% against 20% in the EU and 10% in Japan), an increase in mining production would be detrimental to the price of metal. The resumption of economic activity in China and around the world therefore remains the best source of hope for the sector.