FinCEN Files: All you need to know about the documents leak

BBC | Sep 21, 2020

FinCEN Files - FinCEN Files: All you need to know about the documents leakLeaked documents involving about $2tn of transactions have revealed how some of the world's biggest banks have allowed criminals to move dirty money around the world.

They also show how Russian oligarchs have used banks to avoid sanctions that were supposed to stop them getting their money into the West.

It's the latest in a string of leaks over the past five years that have exposed secret deals, money laundering and financial crime.

What are the FinCEN files?

The FinCEN files are more than 2,500 documents, most of which were files that banks sent to the US authorities between 2000 and 2017. They raise concerns about what their clients might be doing.

See:  Fintech & Cybersecurity: Key Risks and Solutions

These documents are some of the international banking system's most closely guarded secrets.

Banks use them to report suspicious behaviour but they are not proof of wrongdoing or crime.

They were leaked to Buzzfeed News and shared with a group that brings together investigative journalists from around the world, which distributed them to 108 news organisations in 88 countries, including the BBC's Panorama programme.

Hundreds of journalists have been sifting through the dense, technical documentation, uncovering some of the activities that banks would prefer the public not to know about.

The FinCEN papers are different because they are not just documents from one or two companies - they come from a number of banks.

They highlight a range of potentially suspicious activity involving companies and individuals and also raise questions about why the banks which had noticed this activity did not always act on their concerns.

See:  Remote Working Cybersecurity Checklist

What has been revealed?

Continue tot he full article --> here

 


NCFA Jan 2018 resize - FinCEN Files: All you need to know about the documents leak The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - FinCEN Files: All you need to know about the documents leakFF Logo 400 v3 - FinCEN Files: All you need to know about the documents leakcommunity social impact - FinCEN Files: All you need to know about the documents leak

CONGRATULATIONS TO THE 2020 FINTECH DRAFT PITCHING AND DEMO COMPANY WINNERS!



FFCON20 Pitching and Demo Winners - FinCEN Files: All you need to know about the documents leak



NCFA COVID 19 letter to government to support Fintechs and SMEs - FinCEN Files: All you need to know about the documents leak

NCFA Newsletter subscribe600 - FinCEN Files: All you need to know about the documents leak