The Organized Crime and Corruption Reporting Project revealed this week that a vast money-laundering operation has transported billions of dollars in suspicious funds throughout EU banks for almost 20 years. Banks such as Danske Bank, UNG Groep NV, Deutsche Bank, and Raiffeisen Bank have been found to have facilitated the transfers of hundreds of millions of dollars each, with Danske Bank alone being responsible for the movement of $230 billion in suspicious transactions. Many of these banks are accused of having ignored potential red flags and various political officials are being blamed for overlooking previous allegations of misconduct.
The US, the UK, and a number of European countries are conducting ongoing investigations into this matter. It is believed that roughly $2 trillion is laundered worldwide every year.
