Money laundering, oligarchs, terrorists: How corrupt are the banks? | To the Point

[@MyMikey88]

Finally some brave people start talking about this decades old problem....hope to see more of this

[@Melissa-zy6qi]

well Virgin Island, Ireland are example or countries allow to money laundry. JP Morgan etc are banks that involve in money laundry.

[@yebolact2918]

Why not Bermuda, Maldives, Singapore, Hole world,,,,

[@MyMikey88]

@@Melissa-zy6qi Eu countries should not allow money loundry-Cyprus,Luxembourg,Monaco,Austria are also bad examples

[@josebazocosta9341]

DELAWARE THE WHOLE SYSTEM FOR THE FEW

[@Melissa-zy6qi]

@@MyMikey88 Yup dont donation for the USA presidential election is not free from money laundry. you also forgot England, the USA, Swiss, Singapore, etc Those countries have jurisdiction that allow people to put their money there and banks will not allow everyone to know who has accounts on those banks.

[@jamescrump6356]

Wealthy politicians don’t really want to find the corruption. They are supported by these funds.

[@importantname]

the only people that will be punished for the corruption are those who released the information.

[@Coldwave1q2w]

Banks should be nationalized and made non-profit. It is obviously a conflict of interest for them to be out for their own profits instead of keeping peoples money safe.

[@lordy1952]

You mean bank should be come credit unions? Bank number one goal is to make money. Complying with the law is secondary.

[@disrael2101]

Perfect ideA

[@thisismetoday]

@@lordy1952 The OP's suggestion is literally to make banks non-profit. Your comment makes no sense.

[@parahattajov9359]

If normal citizens steal even a 1000$ from the bank, they will be sentenced for years. However, if you are rich that rule doesn't apply for you.

[@jamesjames3525]

the law enforcement has been established to protect their wealth.

[@gmmg3220]

Exactly

[@jamesjames3525]

@@gmmg3220 we all know, but some of us pretend everything is ok, some of us ignore it, while other just don't care.

[@mpua3009]

That is why we glorify liberal democracy. The power of money not people power. We elect people that will be bought by money, money money.

[@parahattajov9359]

@@jamesjames3525 unfortunately yes

[@Karyabs]

Where would financial crime be without the banks to process the ill-gotten money!

[@budak7995]

The bank itself is the most important element of corruption, without banks no corruption !!!

[@goodlivesmatter7238]

I dobt it daree too corrupt

[@goodlivesmatter7238]

But stay safe

[@somethingelse9228]

They can then just use casinos for the same purpose but of course removing banks would take out a big chunk from the laundering economy

[@sabinoluevano7447]

Humans are the problem. No matter what institution you get rid off, a lot of humans will be corrupt.

[@somethingelse9228]

@@sabinoluevano7447 System can be used to control this tendency to corruption. If the system's incentives are aligned in the opposite direction.

[@GHOSTsq]

Anybody who's dealing with money is corrupt

[@dadikkedude]

I switched banks to a small sustainable bank. My amount maybe small, but I don't want to be a part of the schemes.

[@Zov631]

It may be the case but u just don't realize

[@TheSmartLawyer]

Smaller banks are often owned by criminals laundering their own money and who want to do their own financing on very favorable terms and conditions.

[@rahulsingh-dm4rc]

Banks and Corruption classic as Fish and Chips

[@neymac10]

Why am I not surprised?...

[@jamesjames3525]

you shouldn't its common practice.

[@bennyrashasha9920]

Because we are conditioned.

[@jamesjames3525]

@@bennyrashasha9920 TRUE.

[@rapauli]

Great report. More please, I would prefer to learn it from DW News. Things are changing so fast, perhaps you should make it a monthly report.

[@katomiler843]

Bravo, DW/Buzzfeed, for more fantastic investigative journalism!!!

[@bird5627]

Very general news, no names. Collection of what can be found on FATF and other AML and professional sites. Point finger to middleman, make cops make them tell real names and remove Trumps, Putins and Berlusconis from public live ie lock them in some block of flats give them remote controller and TV and no outside space. I think the main advisory role of every former PM and president is how to swiftly update you on methods of hiding money

[@b1elal]

I like the separation glass, it allows for people to come on the studio instead of zoom/Skype.

[@Daoistify]

Living in Massachusetts many years ago as a child, my dad lost 25 grand when Bank of New England went out after it was busted for laundering billions in coke $$$.

[@Aldoor]

After dealing with the ASB a bank here in New Zealand. It has put me off using banks so much that I now only use the bank for my pay to go into then I withdraw it. The Fiat system and banking system is broken and needs replacing. Banks are not trustworthy

[@hblaub]

Bad banks, bad banks, what you gonna do when they wash money for you?!

[@xzxzojkeymtzxzx7712]

it's funny how they talk about the banks, policy makers and then money launderers like they are all separate groups of ppl. I'm sure many of these ppl are related (either by blood or close social ties) - or they could very well be the same ppl

[@perroraton9515]

I wanted to hear Vendeline's answer to the final question: Are things going to change?

[@parahattajov9359]

In the long term.... No

[@martinsmazonis2643]

Really great content. Just rises the question of why BuzzFeed keeps pushing a lot of content that is very subjective and often ridiculous. Please keep up the great work and keep people in your organization that has the guts, power, connections, and experience to process and create valuable content like this.

[@infidelapostate3094]

😂 let me guess... you think BuzzardFood is focused on "journalism" not *_viral videos._* 🤣

[@iandmetick07]

In some country, only 7 millions population but there are 40 banks. Most of them don't do any transaction !

[@johnpatrick1588]

Meantime average Joes have to jump through hoops sometimes to open accounts and even have to explain to banks what money is from or for.

[@char8095]

This will never go anywhere substantial, too many world leaders and very rich people involved.

Banks are only laundering Money why not go after the real Criminals people. Like, Modi, Trump, NathanYahu. and their friends and Parties, all Politicians Judges, Industrialists, Oil companies, Manufactures, Mega Tech Giants, Pharmaceuticals companies. Name all these real TERRORISTS with Pictures so people remember's them with faces for generations to come...

[@franklinchinquee4293]

Prosecutors must stop making sweetheart deals that give these criminals a free pass - no jail time for a fine. These fines are recuperated in a fiscal quarter; and then it's the same thing again. It's just an equation of cost vs benefits for the tortfeasors; but society has to pay the costs. Tax shelters must have the beneficial owners, to shine a light on these criminality.

[@werdw4849]

Thank you for your reporting on this.

[@flashladderacrobat]

I work at Deutsche Bank and I categorically refuse on behalf on my employers these ridiculous allegations. My Job title? I am a sanitary supervisor, ie, I clean restrooms at Taunusalage 12 in Frankfurt am Main.

[@MvTCracker]

If you withdraw more than $5,000 in cash to say pay for a car in a cash offer or whatever you get a suspicious activity report (suspected laundering or drug dealing) even if it's for legit purposes...If they don't file the report they can have trouble or fines.

[@meowanameow956]

I like how the oligarchs and terrorists are in the same list. Nice touch 👌

[@megetmorsomt]

Put enough rich people in jail and it stops.

[@teksal13]

Small percentage of 'Rich People' are criminals.

[@iruns1246]

@@teksal13 Yep. Mostly because they either pay the lawmakers to make the laws that benefit them, or pay law enforcement to look the other way, or pay people to look for and use loopholes in the law books. Or all of the above. Mostly all of the above.

[@megetmorsomt]

@@iruns1246 That is an absolutely perfect description of the problem.

[@horaciomartininchausti6258]

That's is like dream which never will be accomplished...😄😄😄😄

[@jamesjames3525]

when there is an absolute endless money supply nothing ever works. too many average folks get involved for a quick dollar.

[@ronvoy]

No surprise it will pass under the radar just like 'Panama Papers'

[@chriskevini]

I turned on auto generated captions and I'm thoroughly impressed that speech recognition perfectly understands heavily accented speech

[@Ari-ld9hi]

This will never end. Greed is inherent in human beings, and those with narcissistic personalities and access to power will do whatever it takes. Human beings for the most part if given the opportunity will do the wrong thing.

[@Andre-xf7tp]

It can be reduced greatly, with the right policies: No central bank, meaning no FIAT money and less taxes for the government

[@nightheist2191]

@@Andre-xf7tp and then no public infrastructure or army . Boom gets invaded and everyone dies

[@Andre-xf7tp]

@@nightheist2191 That should be paid with taxes not with loans to the central bank.

[@Andre-xf7tp]

@@nightheist2191 But still if you want the Central Bank, than at least get rid of the FIAT

[@jeanmatthews3899]

@@Andre-xf7tp a fiat currency is more flexible and easily adopts to massive changes in spending

[@jockisaantonino2112]

What makes me sad is that most of these correspondent banks, as well as Deutsche Banco, when it comes to African banks have an unusual requirement when it comes to complying, that is, having a solid Compliance Structure within any African bank (COMPLIANCE), if it does not present a perfect compliance policy, I can well say, they immediately cut the bank correspondence relationship with your institution. It is not the first time, I hear that these renowned banks have these practices, in my view, these banks, as already mentioned, are the main money laundering machines in the global financial market. With much love I send best regards from Angola

[@hblaub]

I am very very happy, that we saved those banks in 2008/09 ! So they could continue working with our local and international criminals.

[@antondelacruz9362]

'In the long term? No.' Great delivery.

[@r000ty]

I lived and worked on Guernsey. And the aswer is: Yes.

[@michelangelomissoni945]

Germany - “Italy your so corrupt, full of organized crime, and require less spending!” Italy - “Ok! Ok! But first ... Where is all our money going?!”

[@dafrasier1]

Catholic Corruption. root cause Vatican, The Church. BAD.

[@Flex2212]

Ah the Germany-bashing. Exactly as tiresome as the Italy-bashing. At least the Germans do not vot for Fascists in droves. Did you know that the average Italian is welthier than the average German?

[@michelangelomissoni945]

Eisen59 I did know! Yes, as wealth based on PPP (because cost of living is lower) Italy’s has a bigger middle class. No such thing as Germany bashing here. Just facts that all nations are corrupt and human. When Italy had Berlusconi nobody saw it as a warning for the West? People just laughed and thought “ohh poor Italy!”. Instead they should have been taking notes

[@michelangelomissoni945]

andrejagreen all nations are human, some less than others.

[@paulmanoli5175]

Have you ever seen a bank next to a church?

[@alicat7281]

Excellent news piece.

[@camishnaderulo4052]

How can we be together I want to be a freemason

[@camishnaderulo4052]

Hi madam could I be together coz I want to be a Freemason like you?

[@peach7469]

It's strange seeing Buzzfeed News portrayed as a serious news source.

[@joblo497]

It's strange Assange is not free 🏃

[@Thor.Jorgensen]

Buzzfeed News isn't a news source. They are a company. As is Politico, and Economist, and DW News. You should know the difference between a news source and a company. You can always trust a news source, but you can't always trust a company. And Buzzfeed brokers neither 100% lies nor 100% truths. The VAST majority of those who read news never ever actually look at sources. Let's take this video for example. Tell me, what are the primary sources of the claims made on this video?

[@TheSmartLawyer]

Intersting in the wake of new FinCen rules in registering small companies

[@OBEYGOD247]

Praying for all! Psalm 37:1-13, "Fret not thyself because of evildoers, neither be thou envious against the workers of iniquity. For they shall soon be cut down like the grass, and wither as the green herb. Trust in the Lord, and do good; so shalt thou dwell in the land, and verily thou shalt be fed. Delight thyself also in the Lord: and He shall give thee the desires of thine heart. Commit thy way unto the Lord; trust also in Him; and He shall bring it to pass. And He shall bring forth thy righteousness as the light, and thy judgment as the noonday. Rest in the Lord, and wait patiently for Him: fret not thyself because of him who prospereth in his way, because of the man who bringeth wicked devices to pass. Cease from anger, and forsake wrath: fret not thyself in any wise to do evil.For evildoers shall be cut off: but those that wait upon the Lord, they shall inherit the earth. For yet a little while, and the wicked shall not be: yea, thou shalt diligently consider his place, and it shall not be. But the meek shall inherit the earth; and shall delight themselves in the abundance of peace. The wicked plotteth against the just, and gnasheth upon him with his teeth.The Lord shall laugh at him: for he seeth that his day is coming." Romans 12:19, "Dearly beloved, avenge not yourselves, but rather give place unto wrath: for it is written, Vengeance is mine; I will repay, saith the Lord."

[@laowho451]

"We don't know whistleblowers' motivations..." Yeah, sign me up for Politico. Top notch J there.

[@treyb3693]

The motivation for profits of banks does not account for state banks or cooperative banks, like Spardabank in Germany. Have the big stock banks compete more with the fairer ones. The US banking bailout of corporate banks is political corruption for attaining a misallocation of state funds to corporate entities.

[@billwedeking7831]

I would suggest an international version of US RICO Act (Racketeering Influenced Corrupt Organization).

[@doughiggins770]

Why is the word “jail” never mentioned? These commentators are part of the problem! Frog walk some bank ceos to JAIL!

[@augurcybernaut4785]

If they are all in jail then who will pay the politicians?

[@grampaherm1462]

It won’t stop and there is no stopping it, any banking should be monitored by a department made to catch such corruption.

[@ecamormex]

And this news shocked someone?

[@Tubeflux]

What about providing financial incentives for investigators? If they discovered a case, they’d get a certain percentage of the money 💰that would flow back into the State’s cash register for their team.

[@fivegoldstar6811]

Bank and corruption,name me a more iconic duo.

[@moviesjean23]

Cristiano Ronaldo and Lionel Messi

[@zapfanzapfan]

Isn't draining money out of corrupt dictatorships a good thing? If the Russian, Chinese, Saudi etc state gets less money for weapons, so much the better.

[@QueenetBowie]

The US government only investigated 4% of reports.... sounds like they need to hire more investigators.

[@puravidadew7031]

The top 5% richest people in the world are the ones who are doing all of this money laundering. They are also the people who run the corporations and the countries of the world. So how do you think you’re going to change any of this?

[@ZiomekPatrykC]

Tax havens should be illegal. Billionaires should not exist. People should be free to move around, but money movements ought to be limited and controlled. There should be more transparency about how the system works, so that normal people can understand and make reasonable democratic decisions.

[@ZiomekPatrykC]

Oh, and people (bankers, polititians etc.) responsible for money laundering should go to prison or get the d penalty.

[@trusty_bear-v1h]

Last time Deutsche Bank plead guilty to money laundering in a suit brought by the State of New York, the investors waited on hot coals for the verdict. Seconds after the verdict came down, the share price went up, up, up! When a homeless person sells his government check to a dealer, he goes to jail (definitely!). When bankers launder billions thus hurting the economies of nations, they get fined. Why? Bankers are too fine for jail? Then the prosecutors start dealing with bank managers who actually pay the fines out of their shareholders pockets. Put the money laundering scoundrels in jail so that they can mingle with the people who they have hurt.

[@GAURAV25855ify]

Including the HSBC

[@Theywaswrong]

I've again focused in on banks and their troublesome practices while watching the Feds raise interest rates multiple times and yet the last two huge rate increases have not budged the savings side rates. Mortgages are a lot, car loans as well...but savers, small ones mostly, are not seeing corresponding savings rate increases. Banks must be making a killing right now.

[@brenden781]

I don't blame policy makers , they're probably getting threatened by the world's most dangerous people.

[@Finezzato]

When Banks look in the mirror they see Governments and vice versa

[@winstonalf]

This is completely natural. There is nothing wrong here. The system was not designed for you and me.

[@JohnDoe-rw2et]

Where is the IRS when you need them?...oh yeah i forgot the IRS work for the system not against it.

[@池袋ジュン苦労]

Also in Japan some problems are happening ....

[@The3Pragmatic]

I am a banker and I approve this message.

[@JamesPatterson-gb9et]

Well.... let's be completely honest with each other. Why were banks created in the first place? Banks were created by wealthy people who convinced the masses of people that they needed someone to handle their money for them. And for a small fee every month they could deposit all of their money into an account created just for them and they could just write a check for whatever debt they wanted to pay. And of course the bank promised account holders a miniscule percentage rate for allowing the bank to use their money for loans and such.

[@johannapfelburg6286]

No one talking about how a tabloid-equivalent BuzzFeed is sitting on the table talking about money laundering and corruption?

[@mim8312]

One more thing, remember that the business of banking is the less profitable business that banksters can operate if they are as dishonest as I believe: they have access to companies' private financial information. Thus, the banksters' cronies can engage in insider trading, which is ubiquitous. Moreover, they (and the "Federal" bankster Reserve) control companies' fates and share prices by granting or denying them credit which potentially makes it easy for them to advise their cronies to make bets on those companies' share prices. Do you ever wonder how most politicians take office, supposedly put their assets in "blind trusts," and then after they leave office they are somehow multimillionaires? Do any of you have access to such great "advice" that your modest savings of maybe a million get turned in a limited number of years into many, many millions -- with amazing regularity? The banksters can also pick who will win in any financial contest. If you are a banksters' crony, you can get ultra-low interest loans and overwhelm any opponents who have to get financing at regular rates. If you are not sufficiently friendly to the banksters, they can deny you access to any type of credit or discourage people from doing business with you, e.g., suppliers. I do often wonder if any of our US or EU largest companies are truly independent and if any of them are controlled by or subservient to the banksters or organized crime groups connected to them. It would explain how "The Quiet Coup" that Simon Johnson wrote about occurred. Watch "Money laundering, oligarchs, terrorists: How corrupt are the banks?" in DW's To the Point. Read the foreign press as to organized crime and banks. Google banks and corruption. Ever wonder why the 15 billionaires that Forbes Magazine reported own US media do not allow their media to cover this corruption of US banks more prominently?

[@cfaini]

Very very old problem... At the end of the day, all these big banks are too big to fall... Governments will always endorse these financial entities.

[@simmysims9209]

How corrupt? Very ...

[@ajaymkathare]

Revenue targets and big bonuses naturally breed this behaviour in Banks

[@deepshallows]

Satoshi Nakamoto must be a Saint after watching this ......

[@Turbo_GT1]

Public - how corrupt is Deutsche bank Bank - u do not even have an idea Laugh among other banks 😂

[@GAURAV25855ify]

Deutsche and HSBC are the most corrupt banks

[@finddeniro]

Where's Madrid ? Go Geneva.

[@jackpilkington6770]

Keep publishing

[@SuperAnatolli]

Q: How corrupt are the banks? A: Yes!

[@dotoroyuriha7411]

Oh would you look at that? Capitalism at its finest. Freedom am I right

[@MrInside20]

Well it’s the worst of capitalism really as it’s corruption. This will all be used to abolish the banking system replace with digital currency system that can be traced and monitored more closely.

[@michelangelomissoni945]

Actually this would be an oligarchic breakdown and manipulation of what would be a free market.

[@Kasper-Kapper]

The capitalism system is less corrupt in the communist system

[@ShadowPhoenixMaximus]

If this was Communism the report would have never seen the light of day and anyone covering it would have been locked up

[@cookiecola5852]

@@MrInside20, but corruption only happens in communist countries... say it with me FREEDOM FREEDOM FREEDOM MURICA FREEDOM

[@Shamansdurx]

Laundering requires a Laundromat, hence the definition money laundering.

[@tc5102]

REMEMBER ONLY 2 TRILLION DOLLARS THAT YOU KNOW OF...........IT WOULD BE A LOT MORE

[@lordy1952]

So bank follow the letter of the law, but the government agencies aren't taking action. Who is to blame?

[@assassin879]

An American talking about corruption sort out your own house

[@ericpham8205]

Financial power should be controled by legitimate government and should be nonprofit just like government official politician or religious leaders

[@willapanews9761]

Politicians do not do anything about money laundering because the rich people that are laundering money are also the main contributors to politician's campaigns.

[@GAURAV25855ify]

Exactly very true

[@arslongavitabrebis]

The problem comes when some groups gather more money than states or public administrations. If money is power, some groups of people could gather more power than states. As well people who have made clean money will be competing in makers with huge amounts money coming from crimes.

[@santoshkulkarni7561]

Is anything going to change? In the long term? NO. That sums it up.

[@andresmarin8273]

WHY BANKS HAS TO POLICE THEMSELVES IF THEIR POLICY IS TO EARN MONEY?

[@disrael2101]

Exacly.. Giving the cat to keep the milk or however u say this

[@Ex-expat]

Oops, you misspelled the title, it should have been; "How corrupt is Deutsche Bank?"

[@Sleepflowrr]

A lot! Look at the tax havens in the islands, eastern europe, London itself and wallstreet

[@YeeMengh]

Europe (usually) has the best news, best technology, the best music, ...and ladies, please!

[@trranjith1247]

What an amazing episode @DW News! GREAT JOURNALISM GREAT DEBATE. You are setting up the bar way too high for others!

[@Masami_Salami]

I sure hope this is a joke. Buzzfeed is hardly a credible source of news.

[@aml8997]

AI? more like blockchain and something like the ILP would do the job better where the transactions are transparent to see for everyone. The technology exists but the will doesn´t as usual.

[@Longtack55]

How corrupt are the banks? Name your price.

[@arlenehutchinson9259]

IMO this is a very juvenile approach to the obvious facts. Obviously the banks are involved as there is no way to physically move the money we are talking about. Therefore, if that is obvious then the same can be said of the system of regulators, the legal and judiciary involvement in allowing the same to continue. DW for impact should show their viewers what $100m looks like. In addition, the "basic" view point of the US journalist further complicates the average person's understanding of the problem. When he said that the US government was not interested in the 3rd world corruption I cringed LOL. It was pathetic😅😅😅. I can at the top of my head list 10-20 reasons why, if they were genuine they would be fully focused on this problem, the DW presenter even fed him the basic reasons and he chose to ignore it😄😄😄😄😄😄 Moral of the story.... As long as we look surface level, we will not even begin to seriously address this problem.

[@KJSvitko]

How much money came to the con man in chief from Russia ?

[@dariostrassli7024]

Ask Beijing Biten's son

[@KJSvitko]

@@dariostrassli7024 Russian troll

[@helenrichardson7490]

Is that why the United States owe so much money and why we are in debt???

[@bauron1985]

I love how casual and still assertive Matthew Karnitschnig is with his responses. He seems to be saying you can report on this all you want, but the systems in place also do all this other stuff, so you can't really do anything about it. Tech must step up. Bitcoin is a good first step.

[@bauron1985]

And that is how he ended!! LOL!

[@gabrielsilvas692]

It might just make it even easier to get away with with decentralize currency

[@bauron1985]

@@gabrielsilvas692 Banker Alert!!

[@gabrielsilvas692]

@@bauron1985 na just know a little about bitcoin and how sketchy its gonna be that's all lol this dude said banker alert 😂

[@bauron1985]

A little learning is a dangerous thing; Drink deep, or taste not the Pierian spring Alexander Pope

[@NorthF]

Try also to take a look at the "Danish Bank" for these days it appears that the bank's branch in estonia has for many years laundered money and helped to finance arms trade to north korea and azerbaijan it is said it is due to lack of control of money transfer it is also said that russia has got money laundered for billions through this branch.

[@aguimars]

Great question, How much the banks are criminal?

[@Shaddowkhan]

The music is too much.

[@BlackLlight07]

Wow! DW featured this? I can never see this on CNN or MSNBC or FN!

[@cluedin]

Great channel

[@mrcooper7027]

Are banks corrupt? Is that rhetorical question?