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JPMorgan supported theft of government funds in various countries, - investigation

Source : 112 Ukraine

ICIJ released the classified dossier of FinCEN department, which belongs to the U.S. Treasury of the State
12:50, 21 September 2020

Open source

The International Consortium of Investigative Journalists (ICIJ) published the secret dossier of the FinCEN department, which claims that the world's largest banks were involved in money laundering in Malaysia, Venezuela, Russia, and Ukraine. 

"The records show that five global banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon — kept profiting from powerful and dangerous players even after U.S. authorities fined these financial institutions for earlier failures to stem flows of dirty money (...) JPMorgan, the largest bank based in the United States, moved money for people and companies tied to the massive looting of public funds in Malaysia, Venezuela and Ukraine, the leaked documents reveal", reads the story on the website of ICIJ.

According to the dossier released by the Consortium, JPMorgan, in particular, processed payments for Paul Manafort, the ex-leader of Donald Trump's election campaign. "The bank shuttled at least $6.9 million in Manafort transactions in the 14 months after he resigned from the campaign amid a swirl of money laundering and corruption allegations spawning from his work with a pro-Russian political party in Ukraine", the story said.

Related: Russian arrested in the US, accused of illegal import of military equipment, money laundering

The ICIJ explained that U.S. agencies responsible for enforcing money-laundering laws rarely prosecute megabanks that break the law, and the actions authorities do take barely ripple the flood of plundered money that washes through the international financial system.

Related: State Investigation Bureau registers statement on Poroshenko's 'money laundering case'

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