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…

In 2020, the hydrocarbon sector will record a loss of $ 1.8 trillion (Fitch Ratings)

The coronavirus pandemic will cause $ 5 trillion in losses to the global economy this year. Fitch says the oil and gas industry alone will lose $ 1.8 trillion, nearly 40% of the total. This is the sector that will be most affected by the crisis.
 
In 2020, the hydrocarbon sector will record a loss of $ 1.8 trillion (Fitch Ratings)

According to a study by the rating agency Fitch Ratings, in 2020, the coronavirus pandemic and the resulting collapse in oil prices are expected to cause a loss of $ 1.8 trillion for the oil and gas sector. Knowing that the agency predicts that the total losses to the world economy will be 5 trillion dollars, this corresponds to more than a third of the total losses and makes this sector the most affected.




 “The critical and costly nature of oil and gas extraction in terms of revenue, operating expenses and investment explains why this sector dominates our projections of revenue loss in 2020. This is six times more than the impact on the retail sector for example, "noted Fitch Ratings.

Meanwhile, exploration and production revenues are expected to drop by about $ 1 trillion to $ 1047 billion, according to independent research company Rystad Energy.

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