On Monday, September 21, shares of some international banks are becoming cheaper due to concerns of investors after a series of publications on investigations by the International Consortium of Journalists (ICIJ).
As EADaily reported, journalists managed to get an array of data from FinCEN, the U.S. Treasury’s financial crime unit. The information leak, according to BBC estimates, is comparable to the “Panamanian” and “paradise” dossiers: it contains information on money laundering and circumvention of sanctions through the world’s largest banks in the period up to 2017 on transactions totaling about $ 2 trillion. The publications show, in particular, that some of the largest international banks allowed to move dirty money around the planet.
HSBC’s shares fell 5.3 percent to HK$ 29.30 per piece of paper at the end of trading in Hong Kong on Monday, equivalent to $ 3.78. This is the lowest price since May 1995. The price of the bank’s securities at the auction in London by 16:15 Moscow time has decreased by 4.85%.
The shares of Standard Chartered, also mentioned in the investigation, fell by 3.8%. Also in the investigation appears Barclays: as the BBC writes, referring to the data of FinCEN, Arkady Rotenberg “supposedly could use the bank for money laundering and evading sanctions. In particular, the transactions allegedly related to the Russian businessman Advantage Alliance and Ayrton Development Limited, some of which took place after Rotenberg fell under Western sanctions.
According to Interfax, Rotenberg himself refutes these allegations.
“The charge of money laundering and circumventing the sanctions through the Bank Barclays is bullshit,” Rotenberg said through his representative.