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…

Morocco: 2.1 billion euros in investments in energy, telecoms and industry

Of the 23.38 billion dirhams approved by the Inter-Ministerial Investment Commission, 7.72 billion (662 million euros) will go to energy infrastructure and renewable energies.

Morocco: 2.1 billion euros in investments in energy, telecoms and industry

The Interministerial Investment Commission, meeting Wednesday in Rabat under the chairmanship of the head of government, Saad Dine El Otmani, approved 45 draft conventions and amendments for an overall envelope estimated at 23.38 billion dirhams. These investments are likely to generate 3,194 direct jobs and 5,406 indirect jobs, said the department of the head of government in a press release.

These investments are, with regard to their financial envelope, "very encouraging, taking into account the conjuncture which we live and compared to the balance sheet of the last year", during which the volume of investments reached 28 billion dirhams, a- he estimated. These indicators reflect the continuity of the attractiveness of the national economy due to the important reforms initiated by the government and the promotion of the image of Morocco internally and externally thanks to its unique methodology for managing this crisis, explained El Otmani. These indicators also show the commitment of private investors to carry out their projects and their will to resume their investment activities, despite current conditions, and devote the particular importance that certain investment sectors require after the pandemic of Covid-19, he added.

In this regard, El Otmani underlined his determination to give a strong impetus to the revival of the national economy and to provide the means for its take-off, this week being devoted to a series of meetings which concern the investment sector, notably the meeting of the National Business Environment Committee (CNEA), the board of directors of the Moroccan Agency for Investment and Export Development (AMDIE) and the meeting of the Investment Commission.

33% of investments in energy

The distribution of investments by sectors shows that energy infrastructure and renewable energies occupy the first position with 7.72 billion dirhams of investments, or more than 33% of the total investments approved by the commission, followed by the telecommunications sector. , then industry and commerce, according to the press release.

Joint ventures represent the majority of approved projects, with investments amounting to MAD 14.91 billion, or 61%, due to major projects planned in the telecommunications, transport, energy, tourism and leisure. The meeting was attended in particular by the Minister of Industry, Trade and the Green and Digital Economy, Moulay Hafid Elalamy.

In March 2019, the Investments Commission had approved 28 draft agreements and amendments to investment agreements for a total amount of 22.96 billion dirhams.