United States: World’s biggest banks ‘allowed criminals to launder dirty money’, leaked documents allege

UK bank shares have taken a hit after some of the world’s largest lenders were accused of allowing criminals to launder dirty money.

Over 2,100 suspicious activity reports (SARs) covering more than $2trn (£1.5trn) in transactions were leaked to BuzzFeed News and shared with the International Consortium of Investigative Journalists (ICIJ).

These reports, and more than 17,600 other records obtained by the ICIJ, allegedly show how senior banking officials allowed fraudsters to move money between accounts in the knowledge that the funds were being generated or used criminally.

The original full article can be found at sky.com

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