Just Politics

[jbsliverer]

Deutsche Bank is notorious for funneling money for every drug lord, despot, criminal kingpin, and evil leaders money for decades and has been designated the most corrupt bank in the world. There are many other big banks involved in this, but Deutsche is the king of them all. The loans to Trump came through Russian mafia/gov/Putin and was part of the money laundering along with Trump's RE and Kushner family in the mix (a good read: Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction By David Enrich).

The bank has been raided several times before and have paid 100's of millions of $ fines (small pittance for the billions and trillions, maybe decillions of $ of fraud and money laundering). A couple of years ago Deutsch paid over a 100 million fine to the US connected to Jeffrey Epstein and Saudi Arabia, but payoff is a more likely scenario. (https://asiatimes.com/2019/08/with-epstein-dead-saudi-links-become-a-black-hole/).

The top people involved (like Trump) get protected, charges dropped, or investigations discontinued (www.straitstimes.com/business/banking/australia-drops-landmark-criminal-cartel-case-against-citi-deutsche-bank). Any people that even might be a danger to this criminal system "commit suicide" sometimes killing their family or friends along with them. Maybe just found dead or poisoned, but the fad today is labeling everything a "suicide".

Not sure what they are going to label Valentin Broeksmit death, they are "investigating" and "the final medical examiner's report is not expected until summer". Said appeared to be homeless but that could be just living of the grid or running with fears of his demise, the public will never truly know. His father, an executive of Deustche Bank, committed "suicide" back in 2014.

The latest raid reported to be about Syrian leader Bashar Assad (again), but I'm sure if one just Googles the bank and corruption, they would get pages and pages and pages on the subject. Not just enough to write a book, but a large set of encyclopedias or an entire library.

You have the Paradise Papers, Panama papers, the finCEN files, and massive amount of USARs that don't get processed, among others. It just continues. Threw a dart in my files with this older article, but no matter what date of article, it always says the same things. Even though banks may take a temporary cut in share price (then recover), it is exponentially more lucrative to continue their illegal practices regardless of sp.

We not only shake corruption's hand and call them doners, but half of society elects them to run and ruin our lives. Gladly bending over and believing them to be saviors. It can be said, those that support the fraud deserve what they get, but that doesn't really fly with the other half that don't.


https://www.dw.com/en/deutsche-bank-shares-crash-fincen-files/a-55010357
Deutsche Bank shares plummet following FinCEN investigation
Deutsche Bank shares fell by nearly 9 percent, similar to other major banks around the world. Banks were accused of handling more than $2 trillion in dirty money for 18 years.

Deutsche Bank headquarters next to a red traffic light
Shares in major banks took a beating on Monday after the FinCEN leak revealed several institutions may have handled more than $2 trillion (€1.7 trillion) worth of dirty money between 1999 and 2017.

Deutsche Bank, Germany's largest bank in terms of assets, saw its shares fall by 8.8%, according to the Xetra trading system. On the Frankfurt and New York exchanges, the bank's shares fell by 8.4% and 8.2% respectively.

The bank appeared prominently throughout the investigation and has been under intense scrutiny for several years.

The bank agreed to pay the US state of New York $150 million to settle claims that it broke compliance rules in dealing with alleged sex offender Jeffrey Epstein. Epstein died in a Manhattan jail in August 2019 while awaiting trial on sex trafficking charges.

The bank's Frankfurt headquarters were raided on suspicion of helping clients set up offshore companies that were used to launder hundreds of millions of euros in 2018. The raid came from the release of the Panama Papers.

Deutsche Bank shares hovered around 7 euros on Monday, compared to roughly 110 euros just before the 2008 global financial crisis.

Read more: Opinion: Witnessing Deutsche Bank's tailspin

The FinCEN papers, which included more than 2,000 suspicious activity reports (SARs), were released following an investigation b Buzzfeed News and the International Consortium of Investigative Journalists (ICIJ). While some banks said the transactions happened long ago, the reports revealed massive problems with the monitoring system of policing money laundering and other criminal activities.

"It confirms what we already knew: that there are huge amounts of SARs being filed with relatively low numbers of cases brought through to prosecution," said Etelka Bogardi, a Hong Kong-based financial services partner at Norton Rose Fulbright.

Other banks hit hard
Germany's Commerzbank was also mentioned in the report. It's shares fell by 5.4% on the day according to Xetra.

British banks HSBC and Standard Chartered saw their shares fall to their lowest level in as much as 25 years after the release of FinCEN.

The UK government said it would work on reforms to its corporate registry system and require more checks on company directors.

Watch video02:40
What are the FinCEN Files?
"If the government cares at all about the UK's reputation globally, it must stop rolling out the red carpet to the criminal and corrupt, and refuse to legitimize their money through our companies and banks," said international NGO Global Witness.

American banks JPMorgan and Bank of New York Mellon also watched their shares tumble on Monday. They fell by more than 4% by mid-day trading in New York.

Bank of New York Mellon said it has complied with "all applicable laws and regulations." JPMorgan said it has "thousands of people and hundreds of millions of dollars dedicated to this important work."

Compliance experts said part of the problem that lead to the FinCEN document release was banks were struggling to distinguish between transactions that were and were not suspicious. The were filing so many SARs that enforcement agencies could not keep up.

"Lots of banks are struggling with high false positive rates and the backlog (of existing cases). That's why you see that sometimes SARs were raised over 100 days after the transaction," said Cliff Lam, a director at AlixPartners in Hong Kong.

Watch video02:14
What is a Suspicious Activity Report (SAR)?
kbd/aw (AFP, AP, Reuters)

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