One of the lawyers, David Boies, said after the hearing that the case “was a wake-up call for banks” that they must keep track of who their clients are.
Try being black and getting a home mortgage loan. They keep track of who their clients are.
this post was submitted on 20 Oct 2023
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It's not that they can't do their due diligence, it's that they do or don't want to, depending on the class of the client.
If Deutsche Bank had to screen all their rich clients for criminal activity they wouldn’t have any left.
They’ve been a bank of last resort for criminals for many years.
The two banks settled to the tune of $365 million?! Wonder what they did wrong to be so culpable. I mean, how did the banks participate in the assaults and trafficking?
It’s called being an accomplice.
They participated by moving the money to pay for sex trafficking underage girls.
That's a whopping 1.3% of their annual profits. A slap on the back of the hands is probably a better deterrent.