Several global banks moved large sums of allegedly illicit funds over a period of nearly two decades, despite red flags about the origins of the money, BuzzFeed and other media reported on Sunday, citing confidential documents submitted by banks to the U.S. government.
Five global banks appeared most often in the documents — HSBC, JPMorgan, Deutsche Bank, Standard Chartered and Bank of New York Mellon, the ICIJ reported. In a statement to Reuters, HSBC said"all of the information provided by the ICIJ is historical." The bank said as of 2012,"HSBC embarked on a multi-year journey to overhaul its ability to combat financial crime across more than 60 jurisdictions."
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