Despite red flags about the origins of the money, media reports say HSBC, Standard Chartered and other banks moved dirty cash for nearly two decades
In this file photo taken on August 3, 2020, a man walks past an HSBC advert outside a branch of the bank in Hong Kong.
"These documents, compiled by banks, shared with the government, but kept from public view, expose the hollowness of banking safeguards, and the ease with which criminals have exploited them," wrote US outlet Buzzfeed News, in the introduction of its report. In a statement released prior to the investigation's publication, FinCEN said that the "unauthorized disclosure of SARs is a crime that can impact the national security of the United States."
The files contained information about more than $2 trillion worth of transactions between 1999 and 2017, which were flagged by internal compliance departments of financial institutions as suspicious.The banks respond to claims
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