Money laundering, oligarchs, terrorists: How corrupt are the banks? | To the Point
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- Опубліковано 23 вер 2020
- Are banks helping criminals, oligarchs and terrorists to launder money? That’s what the so-called FinCen leaks allege. How do the charges stack up? Our guests: Daniel Drepper (BuzzFeed News), Vendeline von Bredow (Economist), Matthew Karnitschnig (Politico)
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#ToThePoint #FinCENfiles #MoneyLaundering
Wealthy politicians don’t really want to find the corruption. They are supported by these funds.
If normal citizens steal even a 1000$ from the bank, they will be sentenced for years. However, if you are rich that rule doesn't apply for you.
the law enforcement has been established to protect their wealth.
Exactly
@@gmmg3220 we all know, but some of us pretend everything is ok, some of us ignore it, while other just don't care.
That is why we glorify liberal democracy. The power of money not people power. We elect people that will be bought by money, money money.
@@jamesjames3525 unfortunately yes
Banks should be nationalized and made non-profit. It is obviously a conflict of interest for them to be out for their own profits instead of keeping peoples money safe.
You mean bank should be come credit unions? Bank number one goal is to make money. Complying with the law is secondary.
Perfect ideA
Finally some brave people start talking about this decades old problem....hope to see more of this
well Virgin Island, Ireland are example or countries allow to money laundry. JP Morgan etc are banks that involve in money laundry.
Why not Bermuda, Maldives, Singapore,
Hole world,,,,
@@Melissa-zy6qi Eu countries should not allow money loundry-Cyprus,Luxembourg,Monaco,Austria are also bad examples
DELAWARE
THE WHOLE SYSTEM FOR THE FEW
@@MyMikey88 Yup dont donation for the USA presidential election is not free from money laundry.
you also forgot England, the USA, Swiss, Singapore, etc Those countries have jurisdiction that allow people to put their money there and banks will not allow everyone to know who has accounts on those banks.
the only people that will be punished for the corruption are those who released the information.
Where would financial crime be without the banks to process the ill-gotten money!
I switched banks to a small sustainable bank. My amount maybe small, but I don't want to be a part of the schemes.
It may be the case but u just don't realize
Smaller banks are often owned by criminals laundering their own money and who want to do their own financing on very favorable terms and conditions.
Why am I not surprised?...
you shouldn't its common practice.
Because we are conditioned.
@@bennyrashasha9920 TRUE.
The bank itself is the most important element of corruption, without banks no corruption !!!
I dobt it daree too corrupt
But stay safe
They can then just use casinos for the same purpose but of course removing banks would take out a big chunk from the laundering economy
Humans are the problem. No matter what institution you get rid off, a lot of humans will be corrupt.
@@sabinoluevano7447 System can be used to control this tendency to corruption. If the system's incentives are aligned in the opposite direction.
Meantime average Joes have to jump through hoops sometimes to open accounts and even have to explain to banks what money is from or for.
Bravo, DW/Buzzfeed, for more fantastic investigative journalism!!!
Very general news, no names. Collection of what can be found on FATF and other AML and professional sites. Point finger to middleman, make cops make them tell real names and remove Trumps, Putins and Berlusconis from public live ie lock them in some block of flats give them remote controller and TV and no outside space.
I think the main advisory role of every former PM and president is how to swiftly update you on methods of hiding money
Living in Massachusetts many years ago as a child, my dad lost 25 grand when Bank of New England went out after it was busted for laundering billions in coke $$$.
Bad banks, bad banks, what you gonna do when they wash money for you?!
In some country, only 7 millions population but there are 40 banks. Most of them don't do any transaction !
Great report. More please, I would prefer to learn it from DW News. Things are changing so fast, perhaps you should make it a monthly report.
No surprise it will pass under the radar just like 'Panama Papers'
I wanted to hear Vendeline's answer to the final question: Are things going to change?
In the long term.... No
I like the separation glass, it allows for people to come on the studio instead of zoom/Skype.
I work at Deutsche Bank and I categorically refuse on behalf on my employers these ridiculous allegations. My Job title? I am a sanitary supervisor, ie, I clean restrooms at Taunusalage 12 in Frankfurt am Main.
it's funny how they talk about the banks, policy makers and then money launderers like they are all separate groups of ppl. I'm sure many of these ppl are related (either by blood or close social ties) - or they could very well be the same ppl
Banks and Corruption
classic as
Fish and Chips
After dealing with the ASB a bank here in New Zealand. It has put me off using banks so much that I now only use the bank for my pay to go into then I withdraw it. The Fiat system and banking system is broken and needs replacing. Banks are not trustworthy
If you withdraw more than $5,000 in cash to say pay for a car in a cash offer or whatever you get a suspicious activity report (suspected laundering or drug dealing) even if it's for legit purposes...If they don't file the report they can have trouble or fines.
Put enough rich people in jail and it stops.
Small percentage of 'Rich People' are criminals.
@@teksal13 Yep. Mostly because they either pay the lawmakers to make the laws that benefit them, or pay law enforcement to look the other way, or pay people to look for and use loopholes in the law books. Or all of the above. Mostly all of the above.
@@iruns1246 That is an absolutely perfect description of the problem.
That's is like dream which never will be accomplished...😄😄😄😄
when there is an absolute endless money supply nothing ever works. too many average folks get involved for a quick dollar.
This will never go anywhere substantial, too many world leaders and very rich people involved.
Anybody who's dealing with money is corrupt
Prosecutors must stop making sweetheart deals that give these criminals a free pass - no jail time for a fine. These fines are recuperated in a fiscal quarter; and then it's the same thing again. It's just an equation of cost vs benefits for the tortfeasors; but society has to pay the costs. Tax shelters must have the beneficial owners, to shine a light on these criminality.
Have you ever seen a bank next to a church?
I am very very happy, that we saved those banks in 2008/09 ! So they could continue working with our local and international criminals.
Really great content. Just rises the question of why BuzzFeed keeps pushing a lot of content that is very subjective and often ridiculous.
Please keep up the great work and keep people in your organization that has the guts, power, connections, and experience to process and create valuable content like this.
😂 let me guess... you think BuzzardFood is focused on "journalism" not *_viral videos._* 🤣
What makes me sad is that most of these correspondent banks, as well as Deutsche Banco, when it comes to African banks have an unusual requirement when it comes to complying, that is, having a solid Compliance Structure within any African bank (COMPLIANCE), if it does not present a perfect compliance policy, I can well say, they immediately cut the bank correspondence relationship with your institution. It is not the first time, I hear that these renowned banks have these practices, in my view, these banks, as already mentioned, are the main money laundering machines in the global financial market. With much love I send best regards from Angola
I lived and worked on Guernsey. And the aswer is: Yes.
I like how the oligarchs and terrorists are in the same list. Nice touch 👌
I turned on auto generated captions and I'm thoroughly impressed that speech recognition perfectly understands heavily accented speech
This will never end. Greed is inherent in human beings, and those with narcissistic personalities and access to power will do whatever it takes. Human beings for the most part if given the opportunity will do the wrong thing.
It can be reduced greatly, with the right policies: No central bank, meaning no FIAT money and less taxes for the government
@@Andre-xf7tp and then no public infrastructure or army . Boom gets invaded and everyone dies
@@nightheist2191 That should be paid with taxes not with loans to the central bank.
@@nightheist2191 But still if you want the Central Bank, than at least get rid of the FIAT
@@Andre-xf7tp a fiat currency is more flexible and easily adopts to massive changes in spending
Why is the word “jail” never mentioned? These commentators are part of the problem! Frog walk some bank ceos to JAIL!
If they are all in jail then who will pay the politicians?
'In the long term? No.'
Great delivery.
Isn't draining money out of corrupt dictatorships a good thing? If the Russian, Chinese, Saudi etc state gets less money for weapons, so much the better.
Banks are only laundering Money why not go after the real Criminals people. Like, Modi, Trump, NathanYahu. and their friends and Parties, all Politicians Judges, Industrialists, Oil companies, Manufactures, Mega Tech Giants, Pharmaceuticals companies. Name all these real TERRORISTS with Pictures so people remember's them with faces for generations to come...
Thank you for your reporting on this.
Intersting in the wake of new FinCen rules in registering small companies
And this news shocked someone?
The motivation for profits of banks does not account for state banks or cooperative banks, like Spardabank in Germany. Have the big stock banks compete more with the fairer ones. The US banking bailout of corporate banks is political corruption for attaining a misallocation of state funds to corporate entities.
Germany - “Italy your so corrupt, full of organized crime, and require less spending!”
Italy - “Ok! Ok! But first ... Where is all our money going?!”
Catholic Corruption. root cause Vatican, The Church. BAD.
Ah the Germany-bashing. Exactly as tiresome as the Italy-bashing. At least the Germans do not vot for Fascists in droves. Did you know that the average Italian is welthier than the average German?
Eisen59 I did know! Yes, as wealth based on PPP (because cost of living is lower) Italy’s has a bigger middle class. No such thing as Germany bashing here. Just facts that all nations are corrupt and human. When Italy had Berlusconi nobody saw it as a warning for the West? People just laughed and thought “ohh poor Italy!”. Instead they should have been taking notes
andrejagreen all nations are human, some less than others.
It's strange seeing Buzzfeed News portrayed as a serious news source.
It's strange Assange is not free 🏃
Buzzfeed News isn't a news source. They are a company. As is Politico, and Economist, and DW News.
You should know the difference between a news source and a company.
You can always trust a news source, but you can't always trust a company. And Buzzfeed brokers neither 100% lies nor 100% truths.
The VAST majority of those who read news never ever actually look at sources.
Let's take this video for example. Tell me, what are the primary sources of the claims made on this video?
"We don't know whistleblowers' motivations..." Yeah, sign me up for Politico. Top notch J there.
As if we didn't know this already. So put it in paper and print those names! Don't hide out in you tube talking about it. Bring the evidence forward directly to the people.
*That's what I thought, all talk, no action!*
Very good point. Their names won't tell us much argument is a bs argument. If they represent someone else, we should make sure these middleman are exposed first and that they stay alive long enough to point fingers at the Trumps and Merkels of the scams
Most of the media moguls (who are also part of this scheme) will not allow this expose so am not surprised this will not even flinch the elites
@@adhaninvestmentgroupltd.111 Then we should ban the media and hold them hostage till they put out the FACTS over the airways while supplying the evidence on paper to the public! It's not that much work to type it up and OWN WHAT YOU SAY!
the banks are constantly caught and fined multiple times. but it keeps happening. you want evidence? the bank of Wales in Australia is the latest, caught and fined. do you thin k this will stop it? I don't think so.
@james James The entire congress and senate are money launderers with the grifter family at the helm. Elect a new captain, then replace the crew. Teach them a lesson which they can't ignore, that they work for the people! If trump isn't used as an example, it's over for the people. Our 1st amendment will soon be the next thing to go. Today you can get arrested talking back to an official, or anyone above your pay grade.They will out lawyer you, break your savings. Freedom of speech is only free when it involves words the three branches of government and CEOs don't care about such as within social sites as this one. It's Stock market profits for them.
I know I'm off topic but it's all connected, isn't it.
I would suggest an international version of US RICO Act (Racketeering Influenced Corrupt Organization).
What about providing financial incentives for investigators? If they discovered a case, they’d get a certain percentage of the money 💰that would flow back into the State’s cash register for their team.
Praying for all! Psalm 37:1-13, "Fret not thyself because of evildoers, neither be thou envious against the workers of iniquity. For they shall soon be cut down like the grass, and wither as the green herb. Trust in the Lord, and do good; so shalt thou dwell in the land, and verily thou shalt be fed. Delight thyself also in the Lord: and He shall give thee the desires of thine heart. Commit thy way unto the Lord; trust also in Him; and He shall bring it to pass. And He shall bring forth thy righteousness as the light, and thy judgment as the noonday. Rest in the Lord, and wait patiently for Him: fret not thyself because of him who prospereth in his way, because of the man who bringeth wicked devices to pass. Cease from anger, and forsake wrath: fret not thyself in any wise to do evil.For evildoers shall be cut off: but those that wait upon the Lord, they shall inherit the earth. For yet a little while, and the wicked shall not be: yea, thou shalt diligently consider his place, and it shall not be. But the meek shall inherit the earth; and shall delight themselves in the abundance of peace. The wicked plotteth against the just, and gnasheth upon him with his teeth.The Lord shall laugh at him: for he seeth that his day is coming." Romans 12:19, "Dearly beloved, avenge not yourselves, but rather give place unto wrath: for it is written, Vengeance is mine; I will repay, saith the Lord."
Bank and corruption,name me a more iconic duo.
Cristiano Ronaldo and Lionel Messi
This is completely natural. There is nothing wrong here. The system was not designed for you and me.
I am a banker and I approve this message.
When Banks look in the mirror they see Governments and vice versa
One more thing, remember that the business of banking is the less profitable business that banksters can operate if they are as dishonest as I believe: they have access to companies' private financial information. Thus, the banksters' cronies can engage in insider trading, which is ubiquitous. Moreover, they (and the "Federal" bankster Reserve) control companies' fates and share prices by granting or denying them credit which potentially makes it easy for them to advise their cronies to make bets on those companies' share prices.
Do you ever wonder how most politicians take office, supposedly put their assets in "blind trusts," and then after they leave office they are somehow multimillionaires? Do any of you have access to such great "advice" that your modest savings of maybe a million get turned in a limited number of years into many, many millions -- with amazing regularity?
The banksters can also pick who will win in any financial contest. If you are a banksters' crony, you can get ultra-low interest loans and overwhelm any opponents who have to get financing at regular rates. If you are not sufficiently friendly to the banksters, they can deny you access to any type of credit or discourage people from doing business with you, e.g., suppliers.
I do often wonder if any of our US or EU largest companies are truly independent and if any of them are controlled by or subservient to the banksters or organized crime groups connected to them. It would explain how "The Quiet Coup" that Simon Johnson wrote about occurred.
Watch "Money laundering, oligarchs, terrorists: How corrupt are the banks?" in DW's To the Point. Read the foreign press as to organized crime and banks. Google banks and corruption. Ever wonder why the 15 billionaires that Forbes Magazine reported own US media do not allow their media to cover this corruption of US banks more prominently?
Great channel
Excellent news piece.
How can we be together I want to be a freemason
Hi madam could I be together coz I want to be a Freemason like you?
Dope background music!
No one talking about how a tabloid-equivalent BuzzFeed is sitting on the table talking about money laundering and corruption?
Satoshi Nakamoto must be a Saint after watching this ......
Where is the IRS when you need them?...oh yeah i forgot the IRS work for the system not against it.
Wow! This is news to me.
Wonderful
Financial power should be controled by legitimate government and should be nonprofit just like government official politician or religious leaders
AI? more like blockchain and something like the ILP would do the job better where the transactions are transparent to see for everyone. The technology exists but the will doesn´t as usual.
I've again focused in on banks and their troublesome practices while watching the Feds raise interest rates multiple times and yet the last two huge rate increases have not budged the savings side rates. Mortgages are a lot, car loans as well...but savers, small ones mostly, are not seeing corresponding savings rate increases. Banks must be making a killing right now.
Revenue targets and big bonuses naturally breed this behaviour in Banks
Where's Madrid ?
Go Geneva.
I don't blame policy makers , they're probably getting threatened by the world's most dangerous people.
REMEMBER ONLY 2 TRILLION DOLLARS THAT YOU KNOW OF...........IT WOULD BE A LOT MORE
It won’t stop and there is no stopping it, any banking should be monitored by a department made to catch such corruption.
Last time Deutsche Bank plead guilty to money laundering in a suit brought by the State of New York, the investors waited on hot coals for the verdict. Seconds after the verdict came down, the share price went up, up, up!
When a homeless person sells his government check to a dealer, he goes to jail (definitely!). When bankers launder billions thus hurting the economies of nations, they get fined. Why? Bankers are too fine for jail? Then the prosecutors start dealing with bank managers who actually pay the fines out of their shareholders pockets.
Put the money laundering scoundrels in jail so that they can mingle with the people who they have hurt.
Including the HSBC
Public - how corrupt is Deutsche bank
Bank - u do not even have an idea
Laugh among other banks 😂
Deutsche and HSBC are the most corrupt banks
How corrupt are the banks? Name your price.
The problem comes when some groups gather more money than states or public administrations. If money is power, some groups of people could gather more power than states.
As well people who have made clean money will be competing in makers with huge amounts money coming from crimes.
Q: How corrupt are the banks?
A: Yes!
IMO this is a very juvenile approach to the obvious facts. Obviously the banks are involved as there is no way to physically move the money we are talking about. Therefore, if that is obvious then the same can be said of the system of regulators, the legal and judiciary involvement in allowing the same to continue. DW for impact should show their viewers what $100m looks like.
In addition, the "basic" view point of the US journalist further complicates the average person's understanding of the problem. When he said that the US government was not interested in the 3rd world corruption I cringed LOL. It was pathetic😅😅😅. I can at the top of my head list 10-20 reasons why, if they were genuine they would be fully focused on this problem, the DW presenter even fed him the basic reasons and he chose to ignore it😄😄😄😄😄😄 Moral of the story....
As long as we look surface level, we will not even begin to seriously address this problem.
The top 5% richest people in the world are the ones who are doing all of this money laundering. They are also the people who run the corporations and the countries of the world. So how do you think you’re going to change any of this?
Very very old problem... At the end of the day, all these big banks are too big to fall... Governments will always endorse these financial entities.
This gives me those Mr. Robot Evil Corp vibes
Why you ask...money...turns around the world is a popular song in Cabaret...
Also in Japan some problems are happening ....
The same here in the Philippines. Php. liberal party, media, american democrat and EU. Control the political situation for there on ambition.
How corrupt? Very ...
Laundering requires a Laundromat, hence the definition money laundering.
Oops, you misspelled the title, it should have been; "How corrupt is Deutsche Bank?"
Keep publishing
Europe (usually) has the best news, best technology, the best music, ...and ladies, please!
Tax havens should be illegal. Billionaires should not exist. People should be free to move around, but money movements ought to be limited and controlled. There should be more transparency about how the system works, so that normal people can understand and make reasonable democratic decisions.
Oh, and people (bankers, polititians etc.) responsible for money laundering should go to prison or get the d penalty.
An American talking about corruption sort out your own house
Are banks corrupt? Is that rhetorical question?
Keep a monetary team who regulates under Reserve Bank for all illegal or shady activities
A lot! Look at the tax havens in the islands, eastern europe, London itself and wallstreet
So bank follow the letter of the law, but the government agencies aren't taking action. Who is to blame?
How much money came to the con man in chief from Russia ?
Ask Beijing Biten's son
@@dariostrassli7024 Russian troll
Great question, How much the banks are criminal?
I thought only Crypto was used by criminals...
Crypto is cheaper and more efficient. Normal banking system will extract it's pound of flesh.
The US government only investigated 4% of reports.... sounds like they need to hire more investigators.
Is anything going to change?
In the long term? NO.
That sums it up.
WHY BANKS HAS TO POLICE THEMSELVES IF THEIR POLICY IS TO EARN MONEY?
Exacly..
Giving the cat to keep the milk or however u say this