Systems

Also involved: Dankse Bank, Deutsche Bank but also Spanish Santander bank and the British banks HSBC, Barclays, Lloyds and RBS.

ARTE TV: Gangsters of Finance: HSBC 87 min “Since the 2008 crisis, HSBC has been involved in countless scandals: Money laundering for drug cartels, corruption, tax fraud… And yet the international bank escapes justice with insignificant fines. Why are they “too big to jail”?”

“Many of these sanctions have taken place in recent years, indicating that money laundering has become common practice,” Fortytwo data (AI powered Anti-Money Laundering platform to combat evolving threats)

stated, which revealed that 18 of the 20 biggest banks in Europe had already been sanctioned.

According to a British report, 18 of the 20 leading European banks, including four French ones, have already been sanctioned for money laundering offences over the past decade.

EURACTIV France’s media partner La Tribune reports.

The huge scandal which recently rocked Danske Bank highlighted the deficiencies in money laundering checks.

“The Russian-speaking caller refused to give a name but the threat was explicit: “Do you really feel you can walk home safely at night?”

It was 2013 and officers at the Estonian branch of Danske Bank were beginning to realise they had taken on some very unpleasant customers.” (src)

This problem is not unique to this Danish bank but concerns the entire European banking sector at various levels.

Accordingly, 18 of the 20 biggest European banks, or 90% of them, have already been sanctioned for infringements of the anti-money laundering systems, according to a study by the British company Fortytwo Data, which markets anti-money-laundering solutions based on artificial intelligence.

“Many of these sanctions have taken place in recent years, indicating that money laundering has become common practice,” the company stated in a press release.

“The recent crises that have affected ING, Danske Bank and Deutsche Bank have only reinforced this impression and show that no bank, regardless of its size, is immune to sanctions.”

This could just as easily prove that the regulators are being stricter or are carrying out more frequent checks of established verification or warning mechanisms.

Among the biggest European banks to have already been sanctioned for shortcomings in combating money laundering over the past decade, the study also cites the Spanish bank Santander and the British banks HSBC, Barclays, Lloyds and RBS.

In the United Kingdom, money laundering has reached €171.6 billion a year, according to the data collected by the National Crime Agency (NCA).

EU admits anti-money laundering rules inefficient, prepares for improved supervision

As recent scandals proved that the new anti-money legislation falls short of monitoring financial flows, the EU is leaning toward stepping up the supervision and enforcement of its rules.

French quartet already caught

There are also four big French banks on the list: BNP Paribas, Crédit Agricole, Société Générale and Banque Populaire Caisse d’Epargne. Last year, the Autorité de contrôle prudential et de resolution (ACPR) imposed a €10 million sanction on BNP Paribas for significant shortcomings in its system to combat money laundering and for the financing of terrorism, while Société Générale was fined €5 million for the same reasons.

In its annual report, Tracfin – the task force backed by the French finance ministry to combat money laundering and the financing of terrorism – said it was increasingly called upon to combat tainted money in 2017, having received almost 70,000 reports of suspicion (an increase of 10% in a year and 50% compared to 2015). The financial intelligence unit had already recorded an unprecedented increase in 2016.

Difficulties in combating money laundering in Europe

Despite tougher rules against money laundering, there are still many shortcomings among Member States, the European Central Bank and the Commission. EURACTIV.fr reports.

Move towards a European anti-money-laundering police

Many scandals have broken since the beginning of the year, such as the Danske Bank scandal (€200 billion of suspicious transactions conducted through its Estonian subsidiary between 2007 and 2015) or the ING scandal, which cost the finance director his job.

In early October, the European Union finance ministers therefore decided to strengthen anti-money laundering measures, assigning the role of European anti-money-laundering police to the European Banking Authority.

This authority was created in 2010 and will soon leave London to relocate in Paris. Currently, no entity oversees the harmonisation of the rules to combat money laundering in the European financial sector.

Money laundering accusations in Latvia cast doubt on ECB credibility

The Governor of the Latvian Central Bank, suspended by the Parliament, continues to face extraordinary accusations. The Commission has promised to set up a working group by the summer to tackle money laundering. EURACTIV.fr reports.

src: https://www.euractiv.com/section/economy-jobs/news/90-des-grandes-banques-europeennes-deja-sanctionnees-pour-blanchiment/

After decades of lobby-controlled-democracy – democracy in Germany is weaker than ever.

Jürgen Trittin (also GreenParty) “Niemand kann dauerhaft gegen den Markt regieren” “You can not make politics against the market (forever)”

After all even Socrates believed only the “noble” and the rich shall rule – because people are “too stupid” to rule themselves.

After 2008-subprime-crisis and 2015-refugee-crisis – it just takes another 1929-like finance-economic bank failure crisis – to give all power to extreme-right.

Most (99%) of non-extreme-right politicians are not aware of their massive responsibility of averting another 1929 and the right-wing and possible war fallout.

Most (at least 95%) are egoistic bastards that do not care about anything but their own pockets.

Best example: Joschka Fischer – from activist to lobbyist – lobbyist for what?

This is VERY bad publicity for the EU. Bulgaria is a poor ex-Soviet country – but it was included into the EU – now citizens are fleeing the country EN MASS to the WEST out of poverty – and become prostitutes of capitalism.

“GREAT”

congratulations all involved. Now the next scandal: If you are a journalist in ex-soviet countries – better watch what you say:

“Meanwhile, demands are being made to send a Delegation of the EU Parliament to Bulgaria. This was suggested by Green MP Sven Giegold:

“The cruel murder of Victoria Marinova is a matter whole of Europe.

First Malta, then Slovakia, now Bulgaria: it is unacceptable for Europe that journalists are murdered in Europe.

The EU Parliament must now send an Ad hoc Delegation to Bulgaria.

We need quick clarification as to whether the murder is related to Marinova’s research on the embezzlement of EU funds.

A Delegation of the EU Parliament should gather facts on the ground as soon as possible.”

My opinion: Kick Bulgaria out of the European Union – they are not ready for it – same goes for Turkey out of NATO.

Rumanian Murder Suspect fled and arrested in Germany: “The arrests and inquiry follow enormous international pressure on the Bulgarian authorities. It built up after the news broke that Marinova was killed just after she had presented “Detector”, her TV show on investigative journalism.

She had presented the case of GPGate, an investigation into EU funds fraud in Bulgaria (Investigated by Journalist Dimitar Stoyanov of Bivol and Attila Biro of Rise Romania).

This cross-border investigative reporting project is financed by the ECPMF’s IJ4EU fund.

The Interior Ministry has now announced that prosecutors have opened an investigation into the suspected GP Group, the building company alleged to have misused the EU money, and have frozen 14 million euros of its assets. Bivol reported on the case already a month ago, but then nothing happened, Bivol’s editor-in-chief, Atanas Tchobanov told the ECPMF.” (src)

Bivol Reporter Dimitar Stoyanov: Freedom of the Press/Free Speech/Media in Bulgaria Are in Dire State

… is massively clashing with the long tradition of corruption in those countries.

Every country needs to learn and evolve – you can’t treat them all as “equal” EU union members and call them “Europe”.

Unless you see “Europe” as a purely financial institution and not a union of values.

What happened?

Atanas Tchobanov: Dimitar Stoyanov from Bivol.bg and Attila Biro from Rise Romania were working on a massive EU funds fraud case. The first part of the investigation was published Wednesday morning.*

The case is linking high profile oligarchs and political persons to corruption. After we published, we got the information that documents and computers are taken away from the offices of the companies exposed in our investigation. We alerted the Anti-Mafia Police immediately on Wednesday. ” (src)

“It is particularly piquant because Marinova is already the third journalist murdered in the EU within a year.

In October 2017, the Maltese investigative journalist Daphne Caruana Galizia was killed in a bombing. In February, the murder of the Slovak journalist Jan Kuciak and his fiancée caused horror.

The journalist organisation Reporters Without Borders spoke of a “frightening Trend”:” more and more journalists are murdered in the European Union because they are addressing unpleasant topics, ” explained Christian Mihr in Berlin. “The EU must not look away.”The deputy president of the European Commission, Frans Timmermans was sent via Twitter. A committed Journalist, had been killed in the fight for truth and against corruption.

Translated excerpt from https://www.euractiv.de/section/europakompakt/news/bulgarien-nach-mord-an-journalistin-unter-druck/

in German:

“Derweil werden Forderungen laut, eine Delegation des EU-Parlaments nach Bulgarien zu entsenden. Dies schlug etwa der grüne Abgeordnete Sven Giegold vor:

“Der grausame Mord an Victoria Marinova   geht ganz Europa etwas an.

Erst Malta, dann Slowakei, jetzt Bulgarien: Es ist nicht hinnehmbar, dass in Europa wieder Journalisten ermordet werden.

Das EU-Parlament muss jetzt eine Ad-hoc Delegation nach Bulgarien schicken. Wir brauchen schnelle Aufklärung, ob der Mord in Zusammenhang mit Marinovas Recherchen über die Veruntreuung von EU-Geldern steht.

Eine Delegation des EU-Parlaments sollte vor Ort schnellstmöglich Fakten sammeln.”

Besonders pikant ist der Fall auch, weil Marinowa bereits die dritte Journalistin ist, die innerhalb eines Jahres in der EU ermordet wurde. Im Oktober 2017 wurde die maltesische Investigativjournalistin Daphne Caruana Galizia bei einem Bombenanschlag getötet. Im Februar sorgte die Ermordung des slowakischen Journalisten Jan Kuciak und seiner Verlobten für Entsetzen.

Die Journalistenorganisation Reporter Ohne Grenzen sprach von einem „erschreckenden Trend“: „Immer häufiger werden auch in der Europäischen Union Journalistinnen und Journalisten ermordet, weil sie unangenehme Themen ansprechen“, erklärte Christian Mihr in Berlin. „Die EU darf nicht wegschauen.“ Der stellvertretende Präsident der EU-Kommission, Frans Timmermans zeigte sich via Twitter schickiert. Wieder sei ein engagierter Journalist beim Kampf für Wahrheit und gegen Korruption getötet worden.

https://www.euractiv.de/section/europakompakt/news/bulgarien-nach-mord-an-journalistin-unter-druck/

 

Death: raped and beaten

On the afternoon of October 7, 2018, Marinova’s body was found in a riverside park in Ruse. She had been beaten and raped prior to being murdered,[3] which the authorities believe happened during daylight.[1] Marinova was the third journalist killed in the European Union in less than a year, after Daphne Caruana Galizia from Malta, and Jan Kuciak and his girlfriend from Slovakia.[4][5]

This is SATANIC!

(src)

Victoria Marinova – friends and colleagues

Links:

https://gijn.org/

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