Global Banks Represent National Security Threat

FinCEN Files show trillions in tainted dollars flow freely through major banks, swamping a broken enforcement system

Secret U.S. government documents reveal that JPMorgan Chase, HSBC and other big banks have defied money laundering crackdowns by moving staggering sums of illicit cash for shadowy characters and criminal networks that have spread chaos and undermined democracy around the world.

The records show that five global banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon — kept profiting from powerful and dangerous players even after U.S. authorities fined these financial institutions for earlier failures to stem flows of dirty money.

U.S. agencies responsible for enforcing money laundering laws rarely prosecute megabanks that break the law, and the actions authorities do take barely ripple the flood of plundered money that washes through the international financial system.

In some cases the banks kept moving illicit funds even after U.S. officials warned them they’d face criminal prosecutions if they didn’t stop doing business with mobsters, fraudsters or corrupt regimes.

JPMorgan, the largest bank based in the United States, moved money for people and companies tied to the massive looting of public funds in Malaysia, Venezuela and Ukraine, the leaked documents reveal.

The bank moved more than $1 billion for the fugitive financier behind Malaysia’s 1MDB scandal, the records show, and more than $2 million for a young energy mogul’s company that has been accused of cheating Venezuela’s government and helping cause electrical blackouts that crippled large parts of the country.

Global banks defy U.S. crackdowns by serving oligarchs, criminals and terrorists - ICIJInternational Consortium of Investigative Journalists

Call for Military Tribunals to Enforce Justice Against Executives at Big Banks

From the 2008 financial crisis to ongoing allegations of fraud, money laundering, and market manipulation, the actions of these executives have not only undermined the integrity of the global financial system but have also caused widespread suffering and economic instability. Despite clear evidence of wrongdoing, many of these individuals have escaped meaningful accountability, shielded by the immense power and influence their institutions wield. The traditional mechanisms of justice have often proven inadequate in holding these powerful actors to account, whether due to regulatory capture, political corruption, or the sheer complexity of prosecuting financial crimes.

Given the severity of the crimes committed and the failure of civilian courts to deliver justice, it is time to consider extraordinary measures to protect the public and restore faith in our institutions. It is time to call for the establishment of military tribunals to prosecute the executives of big banks who have engaged in criminal activities that threaten national and global security.