A whistleblower has leaked account data from Credit Suisse, which shows that some of the most notorious criminals across the world maintain accounts with the bank, including alleged human traffickers, Venezuela officials who looted the country at the same time the people there faced massive inflation, and a billionaire who ordered girlfriend’s murder.The investigation: https://ift.tt/hFWfolS are some of the clients of the bank described in the whistleblower article:A Yemeni spy chief implicated in torture. The sons of an Azerbaijani strongman who rules a mountainous territory as his own private fiefdom. Bureaucrats accused of looting Venezuela’s oil wealth and hastening its descent into humanitarian crisis.Credit Suisse’s clients included the family of an Egyptian intelligence chief who oversaw torture of terrorism suspects for the CIA; an Italian accused of laundering criminal funds for the infamous ‘Ndrangheta criminal group; a German executive who bribed Nigerian officials for telecoms contracts; and Jordan’s King Abdullah II, who held a single account worth 230 million Swiss francs ($223 million) at its peak, even as his country raked in billions in foreign aid.Venezuelan elites accused of plundering the state oil firm funneled hundreds of millions of dollars into Credit Suisse accounts. The money flowed during a period when widespread looting from government coffers precipitated an economic collapse that has prompted six million people to flee the country and driven others into near starvation. The bank kept its Venezuelan clients’ accounts open even as global media exposed corruption cases against many of them.These kind of people have zero problems laundering their ill gotten wealth via the banking system, but damn if you earned more than $600 in staking rewards, you have to start reporting via Form 1099, if you spend $10k in crypto, it will have to be reported directly to the IRS. All these regulations and laws are put in place to track crypto because regulator and central bankers constantly attack crypto as a conduit for money laundering. However the biggest criminal enterprises solely rely on the banking system for laundering their funds.Drug cartels or Venezuelan elites who looted their own government have no issues with KYC, but if you make a p2p or anonymous crypto transaction, you can risk your funds being locked!The loops you have to go to have your crypto income accounted as a legitimate source of earning, only for those in the government to accuse crypto of facilitating money laundering, crimes and whatnot...But when the actual allegations come out its invariably the central banking system that facilitates money transmission operations for some of the largest criminal enterprises in the world, including drug cartels and human rights abusers and corrupt rulers.These are quotes from employees of Credit Suisse:“When someone wants to engage in money laundering after he loots assets of the country, for example, he needs to transfer the money. So holders of big accounts go directly to the very senior managers,” he said.The system was based on plausible deniability, said former employees. Bankers are given strict rules, but the incentives are to ignore them.“The bank’s compliance department are masters of plausible deniability,” the former senior manager said. “Never ask a question you do not want to know the answer to.”Other articles covering this leak: https://ift.tt/oMJITWX
Submitted February 21, 2022 at 04:39AM
No comments:
Post a Comment