Money laundering has long been a traditional art! Secret U.S. documents reveal: Over 20 years, HSBC, JPMorgan Chase, and other major banks are the most notorious for illegal money flows

This incident occurred when traditional banks previously submitted confidential documents to the Financial Crimes Enforcement Network (FinCEN) in the United States. The files were leaked and exposed by foreign media. The cases involved illegal transactions totaling over $2 trillion in money laundering from 1999 to 2017, Ponzi schemes, and fund transfers for corrupt organizations.

Large Amounts of Illegal Funds Flowing Through the Banking System

The International Consortium of Investigative Journalists (ICIJ), Buzzfeed, and other media outlets reported in a series on September 21st that the leaked FinCEN documents mentioned international financial institutions including HSBC, Standard Chartered, Deutsche Bank, JPMorgan Chase, and Bank of New York Mellon the most. The disclosed and controversial behaviors include:

• JPMorgan Chase: Facilitating the flow of funds for potential corrupt individuals and organizations in Venezuela, Ukraine, and Malaysia
• HSBC: Reporting multiple suspicious activities but allowing the accounts related to the Hong Kong Ponzi scheme to continue operating
• Deutsche Bank: Involved in the most cases, accounting for 62%, assisting transactions exceeding $1 trillion
• Standard Chartered: Processing transactions for Arab accounts (used for financing terrorism) for over 10 years
• Bank of New York Mellon: Allegedly handling $137 million in OneCoin scam funds

Companies Rush to Clear Their Names: It's All in the Past

After the news was exposed, the content was so explosive that it not only attracted international attention but also led major media outlets to report on the incident. The ICIJ pointed out that since 2010, Ukrainian authorities have continuously transferred campaign funds to the Trump administration through international wire transfer systems. The U.S. Department of the Treasury declined to comment further on FinCEN other than to say.

Major banks have rushed to clear their names, stating that they have invested heavily in anti-money laundering efforts in recent years and are committed to combating financial crimes. Deutsche Bank, which can be considered the most involved, released a statement on the 20th:

There are many past cases in the ICIJ report, many of which have been investigated in detail. Deutsche Bank's regulatory cooperation and remedial measures have been widely recognized, and we have invested heavily in strengthening anti-money laundering controls in recent years. We are very focused on fulfilling our responsibilities.

HSBC, Standard Chartered, and Bank of New York Mellon have all stated that they have invested significant funds in compliance programs, while JPMorgan Chase emphasized its leadership role in anti-money laundering policies.

Global Bank Stocks Plummet After Confidential Documents Revealed

After the FinCEN confidential documents were leaked and disclosed by international media, the stock prices of the named banks all plummeted, with Deutsche Bank suffering the deepest decline. Starting from the 21st, the declines in order of magnitude are:

• JPMorgan Chase (JPM): -2.48%
• Bank of New York Mellon (BK): -4.28%
• HSBC Holdings (HSBA): -6.02%
• Standard Chartered Group (STAN): -6.56%
• Deutsche Bank (DBK): -9.4%

In addition, HSBC and Standard Chartered bank stocks have fallen by 51.8% and 52.5% respectively since the beginning of this year, with HSBC hitting a 25-year low since 1995.