According to recent media reports Deutsche Bank has been linked to large-scale, criminal money laundering through the so-called FinCEN files. The leaked FinCEN files point to money laundering by several global banks, including Deutsche Bank, HSBC, JP Morgan and Barclays. Although FinCEN is aware of the money laundering activities, it lacks the authority to stop it. Concurrently, the cryptocurrency industry has also been criticized for being a tool for money laundering, despite statistics stating otherwise. In your opinion, why is money laundering particularly harmful to our economy?

Source: Forbes September 27, 2020 12:00 UTC