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…

The world economy heavily impacted

in all its components is affected by the COVID 19 pandemic. the fall in Gross Domestic Product (GDP) of around 3.8% in the 1st quarter in the United States.
The world economy heavily impacted

In China, industrial production plunged 13.5% in the months of January and February 2020, compared to the same period of 2019.

According to estimates from an official study, in Canada, the economy could contract by 12% in the year 2020.

As for the European statistics office EUROSTAT, it estimates the decline in GDP in the Euro Zone at 3.8% in the 1st quarter.

In the financial markets, macroeconomic announcements and poor corporate financial publications did not hinder the rebound on most stock markets. However, the US stock markets have fallen sharply following threats of trade sanctions from President Donald TRUMP against China.

Regional news in the WAEMU continues with the issue of "COVID-19 social vouchers". With Burkina Faso and Senegal which raised 80 and 103 billion FCFA respectively, as well as Côte d'Ivoire with 180 billion FCFA.

We note on the regional financial market, an evolution of the stock market indices, with decreases of 1.45% for the BRVM 10 index and 1% for the BRVM Composite index.

We also find the titles BICI CI (-7.96%), BOA MALI (-9.17%) and BOA BF (-9.19%) in the ranking of the top 5 of the biggest drops of the week on the Equity market.