Money is the lifeblood of criminal organizations and terrorist groups. If you take away the money, the groups will die. Unfortunately, banks, including multinational mega banks, have often allowed these criminals and terrorists to open accounts where illicit proceeds are deposited and moved across the world. This has helped small groups grow to international forces of crime and murder. A case in point is HSBC, who was caught laundering billions of dollars for terrorists, including the Mexican Drug Cartels.
Banks laundering money can form the basis of an actionable whistleblower claim under FIRREA and potentially under the SEC Whistleblower Program. Our firm has extensive experience fighting bank money laundering. We have brought a groundbreaking suit against HSBC under the Anti-Terrorism Act on behalf of Federal Special Agents and others victimized by the Drug Cartels whose money HSBC laundered. We also filed a whistleblower claim against BMO Harris Bank for helping Ponzi schemer Tom Petters launder billions of dollars, resulting in a $10 million recovery for the United States. If you have evidence of bank money laundering and are thinking of filing a whistleblower claim, please give us a call.