added a section on banks to the List Of proven Conspiracies https://www.reddit.com/r/conspiracy/wiki/lopc
- “Everything Is Rigged: The Biggest Price-Fixing Scandal Ever” http://www.rollingstone.com/politics/news/everything-is-rigged-the-biggest-financial-scandal-yet-20130425 (http://archive.is/etdQa)
- The US government decided not to pursue criminal charges against HSBC for allowing terrorists and drug dealers to launder millions of dollars after George Osborne and the UK banking regulator intervened to warn that prosecuting Britain’s biggest bank could lead to a “global financial disaster”… The House financial services committee report said the UK interventions “played a significant role in ultimately persuading the DoJ [Department of Justice] not to prosecute HSBC”. Instead of pursuing a prosecution, the bank agreed to pay a record $1.92bn (£1.4bn) fine.” https://www.theguardian.com/business/2016/jul/11/hsbc-us-money-laundering-george-osborne-report (https://archive.is/dbCtm)
- “Banks globally have paid $321 billion in fines since 2008 for an abundance of regulatory failings from money laundering to market manipulation and terrorist financing, according to data from Boston Consulting Group.” https://www.bloomberg.com/news/articles/2017-03-02/world-s-biggest-banks-fined-321-billion-since-financial-crisis(http://archive.is/jlz9c)
- “Big Banks Paid $110 Billion in Mortgage-Related Fines.” https://www.wsj.com/articles/big-banks-paid-110-billionin-mortgage-related-fines-where-did-the-money-go-1457557442 (http://archive.is/Qrh2W)
- “Deutsche Bank Fined in Plan to Help Russians Launder $10 Billion. Deutsche Bank agreed on Monday to pay a $425 million fine to New York State’s main financial regulator to settle charges that it helped Russian investors launder as much as $10 billion through its branches in Moscow, London and New York. The punishment represents the latest regulatory black eye for Deutsche Bank, Germany’s largest. In the last decade, it has been implicated in several financial scandals, including pushing toxic mortgages on investors and manipulating London’s main lending rate for its own financial gain.” https://www.nytimes.com/2017/01/30/business/dealbook/deutsche-bank-fined-for-helping-russians-launder-10-billion.html(http://archive.is/GD2Q9)
- “Citing chat room messages like these, replete with typos, jargon and vulgarities, United States, British and Swiss regulators on Wednesday fined some of the world’s biggest banks a combined $4.25 billion, accusing them of conspiring to manipulate the foreign currency markets. The fines pose no risk to the health of the banks that settled — UBS, JPMorgan Chase, Citigroup, HSBC and the Royal Bank of Scotland — nor were any traders or executives charged with wrongdoing. And yet the settlements on Wednesday closed only the first chapter of what is shaping up to be a more damaging story for the banks.” https://dealbook.nytimes.com/2014/11/12/british-and-u-s-regulators-fine-big-banks-3-16-billion-in-foreign-exchange-scandal/(http://archive.is/eOXju)
- Libor Scandal: https://en.wikipedia.org/wiki/Libor_scandal
- “Citicorp (C), JPMorgan Chase (JPM), Barclays (BCS) and Royal Bank of Scotland (RBS) agreed to pay more than $5 billion for conspiring to fix the price of U.S. dollars and euros, the Justice Department said Wednesday.” http://www.cbsnews.com/news/in-rare-admission-of-guilt-wall-st-banks-admit-they-rigged-markets/ (http://archive.is/QIKvo)
- Wachovia bank paid out a fine less than 2% of the bank’s $12.3bn profit for 2009 for laundering money for drug cartels https://www.theguardian.com/world/2011/apr/03/us-bank-mexico-drug-gangs (https://archive.is/aAZEW)
- HSBC pays out 1.9 Billion dollar fine for laundering money for drug cartels. “Obviously, $1.9 billion is a very large number, but it’s very manageable” without affecting HSBC’s bottom line, said Ian Gordon, head of bank research for Investec Securities in London. “It’s clearly within market expectations.” http://www.usatoday.com/story/money/business/2012/12/11/hsbc-laundering-probe/1760351/ (https://archive.is/GVn6Z)
- The US department of justice said HSBC had moved $881m for two drug cartels in Mexico and Colombia and accepted $15bn in unexplained “bulk cash”, across the bank’s counters in Mexico, Russia and other countries. In some branches the boxes of cash being deposited were so big the tellers’ windows had to be enlarged. https://www.theguardian.com/business/2012/dec/14/hsbc-money-laundering-fine-management (http://archive.is/adOf8)