20200927 The FinCEN Files - misleading the public and benefiting from criminal conduct: Page 10 of 10

20200927 The FinCEN Files - misleading the public and benefiting from criminal conduct

Nigel Morris-Cotterill

There is, at present, a state of excitement amongst the media, some financial crime consultants and some politicians in response to what they are being told is public opinion.

The so-called FinCEN Files were heavily telegraphed in a media blitz more akin to the launch of a Hollywood film that has cost a fortune but the result isn't as good as was hoped.

In the USA and the UK, mainstream media outlets have published a series of articles that, they say, arise because of what it has found in documents obtained from the USA's Financial Intelligence Unit, FinCEN.

Who cares?

Less than a week into the publication of articles, there is widespread apathy in the public at large.

Bank bashing has been so common - with the USA, in particular, bashing the same banks as feature in the articles that there is no longer much interest amongst the general population except those who are happy to jump on any anti-capitalist, anti-bank, anti-wealth bandwagon.

There are politicians who are raising questions for whatever reasons they have.

There is continued excitement as some (by no means all) journalists think there's a feeding frenzy they can't afford to miss out on.

And there are dozens of consultants and others in business using the sensational to promote their own product and services.

There are also a growing number of journalists who are critical of the material and the way that it was obtained.

And consultants - which of course includes me - who are trying to redress the balance and hope that, if Joe Public does read the articles, he also reads pieces, like this, that explain that which the articles do not.

At the end of the day, the only people who really care are those who are driving an agenda - and trying to justify their own actions that have arisen from illegal conduct.
And they don't see the irony in that.

Just as they don't see the irony in the fact that they are obtaining a benefit from criminal conduct.

Why is that ironic? It's because it's money laundering.

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