We Must Hold Banks Accountable To Stop Money Laundering

By Linda Lacewell (September 29, 2020, 5:48 PM EDT) -- The so-called FinCEN Files investigation from the International Consortium of Investigative Journalists and BuzzFeed News showing $2 trillion in suspicious activity reports from global banks over a period of years has generated significant news coverage, and the stock markets shivered.

You might think cash is dead in a digital society but it is the lifeblood of criminal activity. The Federal Reserve reports $1.98 trillion in currency circulation, but only 5% sits in bank vaults. Half of existing currency is held abroad. The United Nations' Office on Drugs and Crime estimates the amount of money laundered globally in one year to be $800 billion to $2 trillion.

Banks have...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!