• FinCEN documents prove fraud by major financial institutions
  • US government is informed, but inactive in the case
  • Banks profited by supporting mobsters & drug cartels
  • DSJCPA Forensic team can help your business against financial fraud

An accidental leak in the treasury department’s financial crime enforcement network (FinCEN) has revealed that major financial institutions sponsored the laundering of money despite government warnings to stop. The documents were leaked through Buzzfeed News; they showed that in the almost 20 year period between 1999 and 2017, over $2 trillion of flagged transactions were overlooked. The five main culprits—JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank, and Bank of NY Mellon—profited from laundered funds by mobsters, drug cartels, among other illegal organizations. The US government was informed through suspicious activity reports (SARs) of the transactions, but the majority of them were left unread.

In light of the recent rise in financial crime against both individuals and businesses, DSJCPA’s Forensic Team has been actively assisting several of our clients to investigate potential forensic crimes committed against them. Our team works hand-in-hand with clients to create safeguards to protect their businesses moving forward. To learn more about how we assist in setting up both you and your business for success from a forensic perspective moving forward, please visit our website or call our office at 516-541-6549 to speak with a member of our team!


Devin McQuillan
Associate, Creative Solutions

516-541-6549 | Email

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