Image: Yonhap News
[Anchor]
A trove of secret government documents that were leaked reveals how billions of dollars of illicit funds have been laundered through some of the world's biggest banks in the U.S., Britain, Germany, the United Arab Emirates and elsewhere.
The information was gathered largely through details submitted by the banks themselves to regulators in the United States.
The documents show how financial institutions failed to act on suspicious activities and evidence of how Russian oligarchs, and even organized crime figures with ties to North Korea, have used banks in the West to avoid sanctions.
Anthony Cormier is from Buzzfeed News, which received the leaked documents.
[Clip: Cormier]
"The banks are allowing companies to facilitate terror, money laundering and other financial crimes with the full view of the American justice system, the American treasury department. But they do tell us that they've spent and they do spend billions and billions of dollars every year trying to tackle this sort of dark economy, this system of dirty money that flows around the world."
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