Money laundering is a white collar crime. I am sure you already know that. However, I urge you to read the first sentence again.

A crime.

Yes. Regardless of who was involved in the infraction, the individual or organisation has to be prepared to face the consequences and authorities should not stall the arrests or delay in apprehending the criminals regardless of the culprits socioeconomic status.

In the FinCEN leaks, HSBC role in money laundering was mentioned rather thoroughly. And the excuse given by the top brass of the bank? An unintended loophole in their banking system allowed terrorists and other criminals handling ‘dirty money’, to exploit the system. With lack of evidences of intentional money laundering, no executives were charged in court. In fact, no hearing was also conducted for these high flyers. The bank was ultimately required to pay almost a billion dollars in fines. Billion dollar fine and no criminal prosecution…sounds more like a settlement than a deterrent.

Personally, was always under the impression that this type of crimes only occured in Hollywood movies, thanks to the imagination of the story writer but the sad reality is that these type of crimes are not inspired by the movies, but vice versa.

Money laundering is the back bone of numerous crimes in society, by society and against society. Executives who willingly turn a blind eye to money flowing right under their noses, are aware that those money belong to drug king pins, corrupt leaders depredating the very country they were meant to lead, mobsters, contract killers etc. The FinCEN leaks is not the first and I highly suspect that it will be the last of financial crimes. The infractions which came to light by the leak, is merely an amuse bouch to the numerous other financial crimes taking place around the world, which hasn’t come to light.

Large financial institutions, well connected VIP’S, VVIP’S as respected as they come across, also have some dirty secrets to hide. Leaks of this extent which put big names in the industry are often ‘hush’-ed because of the sheer number and influence of the people in connection to the crimes.

Banks which partake in such activities are not just concentrated in the West. They are domiciled all around the world with different names. Even a morally upright employee, would soon be brain washed to help these corrupt institutions either through financial incentives or blatant threats.

Well, what can the common man like you and I do besides feeling great anger? We are nowhere as influential as the executives but I reckon that the anger and feeling of injustice felt by the common man, can and will make a change in this world. Mark my words!

-Haridas 06/01/21