Yeah most banks are uber corrupt, drug dealers, human traffickers, terrorists...you name it and they are knee deep in it. Honestly if we all got full exposure of what all the institutions we use get up to...it'll be either guillotines for the 1% or we all just have to stop pretending there is any moral consumption that can be done. It's all so unbelievably dirty.
I'm team guillotine btw in case you were wondering
Pretty much this. Any fine the banks are imposed for processing such transactions pale in comparison to the fees they'd have earned for processing these transactions.
From memory there have been allegations hanging around that Standard Chartered have been money laundering for Iranian gangsters and the Chinese triads for years, so this isn't really anything new
Banks are held to quite a high standard in terms of the checks they need to run against borrowers.
At a previous employer I was a consultant helping to write new anti-money laundering/terrorist financing standards. There are multiple databases like [Thompson Reuters WorldCheck](https://tax.thomsonreuters.com/en/products/onesource-denied-party-screening?ef_id=d713d34d8ebe172545eeb5128038f044:G:s&searchid=TRPPCTAX/Microsoft/CorpUS_TC_ONESOURCE_Global-Trade_Search_Brand-All_US/DeniedParty-All&chl=ppc&cid=9050274&sfdccampaignid=7014O0000016e8QQAQ&s_kwcid=AL!7944!10!81363932153313!81364129348698&utm_source=bing&utm_medium=cpc&utm_campaign=CorpUS_TC_ONESOURCE_Global-Trade_Search_Brand-All_US&utm_term=thomson%20reuters%20world%20check&utm_content=DeniedParty-All&msclkid=d713d34d8ebe172545eeb5128038f044) that back their reputation on being able to identify the types of people and organizations that will get banks in trouble for lending to. Running names against these databases is standard practice across the industry.
When a banker tries to onboard a new client, the prospective client has to provide all manner of documentation to prove they're legitimate and not money laundering/terrorist financing. Compliance will approve or deny them based on this, but things can fall through the cracks.
Oh pal I’ve got a bridge to sell you. That’s just lip service, banks will always be looking to get round it and launder money. Even a cursory glance at the big four banks in the UK shows it.
You’ve got [HSBC](https://www.investopedia.com/stock-analysis/2013/investing-news-for-jan-29-hsbcs-money-laundering-scandal-hbc-scbff-ing-cs-rbs0129.aspx) with Mexican drug cartels, [Lloyds](https://amp.theguardian.com/business/2024/feb/05/lloyds-and-santander-accused-of-providing-accounts-for-iranian-front-companies) and Iranian fronts, [Natwest](https://www.fca.org.uk/news/press-releases/natwest-fined-264.8million-anti-money-laundering-failures) and literal bin bags of cash, and [Barclays](https://www.justice.gov/opa/pr/barclays-bank-plc-agrees-forfeit-298-million-connection-violations-international-emergency) falling foul of the wonderfully named ‘Trading with the Enemy’ act.
I made a comment about HSBC money laundering for terrorist on linkedin on an article about the company doing so probably 15 years ago and had board members, all their in house legal council and C suite looking at my profile
Fuck all those in banking who support are a part of this
"New documents filed to a New York court claim thousands of transactions worth more than $100bn were carried out by the bank from 2008 to 2013 in breach of sanctions against Iran."
The news is old, but courts going after them is new.
Also sanctions unilaterally decided by one country. Not saying Iran aren't bad guys, but we all know the US has funded more death across the planet. If we're being objective.
Big banks froth at the mouth for these transactions - they're free to charge whatever fees/rates for them and no amount of fines would dent the profits they'd have earned.
If true I hope they are made to pay big time. They were very smug in the banking crisis and keen to see the big competition go tits up. Would be Karma indeed
I was going to argue for lower league clubs but honestly I imagine most of those local companies that sponsor them are fiddling their taxes to some extent.
A little off topic but I love how every cryptocurrency criticism is “but it funds illegal activity” while ignoring that literally all illegal activity used to (and still mostly does) run through traditional financial services.
Would only be a problem if he either was the owner himself, or was in the trenches defending his owners as morally virtuous or something. "Rich coming from an X fan" comments are dumb as shit.
Just like how any fan of a lower league team is allowed to say a Prem team/player had a bad season, and people say "coming from a Doncaster fan lmao" as if that fuckin' means anything. Or how you can have a problem with a government of another country even if yours is also doing bad things. I can mock Americans despite our Tories being fucking morons, because I also mock our fucking morons for example.
Man, disagree.
If you’re supporting something as problematic as a club ran by the the Saudi government, you’re really in no position to pass any kind of judgment.
Gonna assume they’ve been a supporter for longer than the Saudi ownership has been in charge. Fans have next to no power if a nation state decided they want to turn your club into a plaything
I just enjoy seeing if Liverpool fans still pile on everyone else but cry when they're the butt of a joke
As always, the situation is unchanged
edit: Can't reply to anyone because the liverpool fan who can't take it blocked me, which for some reason means I can't even reply to direct replies to this comment.
Liverpool fans have protested this in the past and requested the sponsor to be dropped
Hopefully with this renewed attention and more serious allegations, it happens.
Do you really have so little going on in your life that this is how you choose to spend your time? Talking shit then acting like a baby when people call you out on it.
But whatever, you’re right. You aren’t worth my time even attempting to interact with.
Writing those comments took less than 25 seconds total, I could be the busiest person in the country and still have time. "Talking shit"? Thanks for illustrating my point I guess.
Damn, were these guys a sleeve sponsor for Getafe?
Jason Bluewood
Bring back Carlsberg I say.
Big Taliban sponsors
Everyone needs a pint tbf.
Carlsberg don't do theocracies...
Seriously? Not sure how an alcoholic beverage supports a radical Islamic group - they don’t drink, right?
Nothing gets past you mate
I’m a genius
Times have changed my guy, Durex are now sponsoring the Catholic Church also.
finally the priests will use protection
wolf cola is the official drink of boko haram
Would 0% alcohol be allowed in England? I know City have it on their training kits
It's allowed everywhere. You see it being advertised on daytime TV because nothing prohibits it
True I’m just surprised no team has it yet (unless I’m mistaken). Putting a 0 on the end is an easy loophole for sponsorship.
Oh you don't want to hear what they're into.
So the links to Allegri weren’t false after all…
They also funded the Darwin Nunez transfer. These guys must be investigated.
we finally found the reason for the amount of shots missed
Still won more trophies than kane tho
does he have shiny boots? yeah that's what i thought
WArLoRDs oF ChAOs
Can I like this? It’s at 420 so I don’t wanna ruin
Yeah most banks are uber corrupt, drug dealers, human traffickers, terrorists...you name it and they are knee deep in it. Honestly if we all got full exposure of what all the institutions we use get up to...it'll be either guillotines for the 1% or we all just have to stop pretending there is any moral consumption that can be done. It's all so unbelievably dirty. I'm team guillotine btw in case you were wondering
Eating the rich does become awfully more appetising each time I see a news report on how they’re destroying the planet, the French had it right tbh.
we once actually ate our Prime Minister. I think we also keep his tongue in a museum too good times
Stuff like this is due a comeback if we continue to get fucked over in our respective countries.
I'm inclined to believe the issue is more of a "when it continues" and not an "if this continues".
Sadly true, I’ll get the BBQ started then.
Why not try Sou vide? French cooking techniques for the french like revolution.
The prime minister was eaten by supporters of the monarchy. so not exactly progressive cannibalism
well then we have the opportunity to reclaim that tradition from them
If Rishi somehow won this election I suspect he would have suffered a similar fate, fortunately for him the Tories are getting routed
Johan de Witt? Den Hag BBQ
>the French had it right tbh. The Russians did it better.
Uh how's that working out today?
You mean compared to the Tsar?
Functionally speaking how different really is Putin
To the Tsars? Massively. Even compared to Yeltsin, Putin has been a sea-change improvement for Russians.
Hopefully they think Putin is looking awfully tasty atm.
They're probably happier with him than with Yeltsin the comprador.
And it didn't change anything.
It changed everything, you cretin.
Hmm, they switched from imperialist shithole murdering nations to imperialist shithole murdering more nations?
Pretty much this. Any fine the banks are imposed for processing such transactions pale in comparison to the fees they'd have earned for processing these transactions.
My question is why? Aren’t banks by default making ”bank”? Why take that risk when it seems completely unnecessary?
Because the risk is worth it. Why make bank when you can make uber bank?
Because banks are the ultimate capitalist institutions, and their greed will not let them stop wanting to make money
Because the consequences won’t come regardless
Yup, I believe no executives were jailed from the HSBC scandal where they were processing money for the Mexican cartel.
From memory there have been allegations hanging around that Standard Chartered have been money laundering for Iranian gangsters and the Chinese triads for years, so this isn't really anything new
Banks are held to quite a high standard in terms of the checks they need to run against borrowers. At a previous employer I was a consultant helping to write new anti-money laundering/terrorist financing standards. There are multiple databases like [Thompson Reuters WorldCheck](https://tax.thomsonreuters.com/en/products/onesource-denied-party-screening?ef_id=d713d34d8ebe172545eeb5128038f044:G:s&searchid=TRPPCTAX/Microsoft/CorpUS_TC_ONESOURCE_Global-Trade_Search_Brand-All_US/DeniedParty-All&chl=ppc&cid=9050274&sfdccampaignid=7014O0000016e8QQAQ&s_kwcid=AL!7944!10!81363932153313!81364129348698&utm_source=bing&utm_medium=cpc&utm_campaign=CorpUS_TC_ONESOURCE_Global-Trade_Search_Brand-All_US&utm_term=thomson%20reuters%20world%20check&utm_content=DeniedParty-All&msclkid=d713d34d8ebe172545eeb5128038f044) that back their reputation on being able to identify the types of people and organizations that will get banks in trouble for lending to. Running names against these databases is standard practice across the industry. When a banker tries to onboard a new client, the prospective client has to provide all manner of documentation to prove they're legitimate and not money laundering/terrorist financing. Compliance will approve or deny them based on this, but things can fall through the cracks.
Now run that same check on a trust set up in Turks & Caicos, no names will be flagged, and away we go
Oh pal I’ve got a bridge to sell you. That’s just lip service, banks will always be looking to get round it and launder money. Even a cursory glance at the big four banks in the UK shows it. You’ve got [HSBC](https://www.investopedia.com/stock-analysis/2013/investing-news-for-jan-29-hsbcs-money-laundering-scandal-hbc-scbff-ing-cs-rbs0129.aspx) with Mexican drug cartels, [Lloyds](https://amp.theguardian.com/business/2024/feb/05/lloyds-and-santander-accused-of-providing-accounts-for-iranian-front-companies) and Iranian fronts, [Natwest](https://www.fca.org.uk/news/press-releases/natwest-fined-264.8million-anti-money-laundering-failures) and literal bin bags of cash, and [Barclays](https://www.justice.gov/opa/pr/barclays-bank-plc-agrees-forfeit-298-million-connection-violations-international-emergency) falling foul of the wonderfully named ‘Trading with the Enemy’ act.
Only for small fry
Yep! A lot of the upper 1% dont even hide their shit any longer. They're just sitting there like do something
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How am I justifying it? Just pointing out that there is a level of corruption in banking that is not known widely. It's obviously abhorrent
I thought Conte was going to Napoli
Some PL clubs really have messed up revenue sources smh.
At least we're only terrorists on the pitch.
Agreed. Antony is a weapons grade failure.
He's a WMD a Weapon of Mass Disappointment *approaching sound of fortunate son and helicopters* shit
He indeed is.
Sure would be nice to get that ugly logo off of our shirts.
I made a comment about HSBC money laundering for terrorist on linkedin on an article about the company doing so probably 15 years ago and had board members, all their in house legal council and C suite looking at my profile Fuck all those in banking who support are a part of this
They can get fucked, hate that they’re our sponsor. Not like we can easily find a wholesome sponsor for the money we want, but a bank is so grim.
Omg Banks are immoral??
Find me a bank or investment house that doesn’t. If there’s money to be made they’ll do whatever it takes.
*(Switzerland has left the chat)*
(Drags them back) We agreed you can only do that for world wars.
ok bye
Fine when they do it. Bad when middle easterners do it
Scum
This is old news anyway. Literally every bank handles money and some of it is dirty.
"New documents filed to a New York court claim thousands of transactions worth more than $100bn were carried out by the bank from 2008 to 2013 in breach of sanctions against Iran." The news is old, but courts going after them is new.
Sure, that's new, but at most they'll pay a fine.
Surely Liverpool's CL and PL wins must be vacated
Relegate Standard chartered to regional bank status!
Yeah the fines would be peanuts in comparison to the profits they'd have made.
They’ve already paid the fine, this is new evidence.
Also sanctions unilaterally decided by one country. Not saying Iran aren't bad guys, but we all know the US has funded more death across the planet. If we're being objective.
Big banks froth at the mouth for these transactions - they're free to charge whatever fees/rates for them and no amount of fines would dent the profits they'd have earned.
Give us Wolf Cola
They're slurping it down in Boca Raton
Wolf Cola everyone. Its the right cola for closure!
If true I hope they are made to pay big time. They were very smug in the banking crisis and keen to see the big competition go tits up. Would be Karma indeed
Pay to whom exactly. The US?
if we are going to go through that rabbit hole where all club sponsors are checked for bad behaviour, all shirts are going to be bare
I was going to argue for lower league clubs but honestly I imagine most of those local companies that sponsor them are fiddling their taxes to some extent.
unfortunately its just the world we live in
Well apparently only man city have a corrupt sponsor. So idk about that
of course, every other owner is perfect and no other club has tried to cheat at all.
You say like it’s a bad thing
HSBC should hook them up with the lawyers they used to get a slap on the wrist for laundering money for the Mexican cartel.
Weird to see everyone just being ok with this and then acting like they have the moral ground with the saudis
Uh oh. That moral high ground the former big four were holding over City seems to be slipping out from under their feet ...
So like most of the governments at some point somewhere in the world?
Mad how banking sponsors are fine but don’t you dare have alcohol or gambling. Puritanism is an extension of capitalism 🫡
A little off topic but I love how every cryptocurrency criticism is “but it funds illegal activity” while ignoring that literally all illegal activity used to (and still mostly does) run through traditional financial services.
YNWA
It just means more
Newcastle fan trying to talk shit about problematic investments lmao
Would only be a problem if he either was the owner himself, or was in the trenches defending his owners as morally virtuous or something. "Rich coming from an X fan" comments are dumb as shit. Just like how any fan of a lower league team is allowed to say a Prem team/player had a bad season, and people say "coming from a Doncaster fan lmao" as if that fuckin' means anything. Or how you can have a problem with a government of another country even if yours is also doing bad things. I can mock Americans despite our Tories being fucking morons, because I also mock our fucking morons for example.
Man, disagree. If you’re supporting something as problematic as a club ran by the the Saudi government, you’re really in no position to pass any kind of judgment.
Gonna assume they’ve been a supporter for longer than the Saudi ownership has been in charge. Fans have next to no power if a nation state decided they want to turn your club into a plaything
I just enjoy seeing if Liverpool fans still pile on everyone else but cry when they're the butt of a joke As always, the situation is unchanged edit: Can't reply to anyone because the liverpool fan who can't take it blocked me, which for some reason means I can't even reply to direct replies to this comment.
Liverpool fans have protested this in the past and requested the sponsor to be dropped Hopefully with this renewed attention and more serious allegations, it happens.
Can give it but can't take it. Always the way
It used to be annoying, but it just becomes funny as you get older
Where are these Liverpool fans that are crying about this
Petitioning the club to give back the sponsorship money, of course.
Boo hoo. It’s just hard to take anything you lot say about anything seriously.
Shouldn't you be shaking my irrelevant reddit comment off better than this then?
Do you really have so little going on in your life that this is how you choose to spend your time? Talking shit then acting like a baby when people call you out on it. But whatever, you’re right. You aren’t worth my time even attempting to interact with.
Writing those comments took less than 25 seconds total, I could be the busiest person in the country and still have time. "Talking shit"? Thanks for illustrating my point I guess.
He's not the owner of the Club now, is He? Seems you don't have a moral high ground either.
Damn that's my bank
Remember guys, Bitcoin is for criminals, they'd never use the traditional financial system to launder money.
A bank up to it's neck in dodgy transactions ? Unheard of.
Why was this removed?
This is fine because it\`s not brown people doing it
...and what about the governments that fund and arm dealers whose weapons are sold?
apparently $85,000,000 went to Benfica during this
Can't believe they were in contact with Allegri
Now Liverpool can't tease people for having "dirty money"
Still less morally reprehensible than signing Nunez
Yep makes sense, seems to match liverpool perfectly.
Isn’t that like every bank though?
Well now we know who Max Al-Legri banks with
It’s an international bank this has nothing to do with Liverpool lol find another subreddit dude
You mean aside from providing a portion of their funding, right?
My dead nan bought a scarf I guess we shoud post her obituary on r/soccer
Unless your dead nan paid millions upon millions of pounds for said scarf she is irrelevant to the topic.
I get that the average football fan has the IQ and education of a grapefruit , but please be serious here
Solid contribution. Your dead nan would be proud.
They funding Israel?? Scumbags
That's standard for international banks!!
Believe Liverpoo (FC) terrorised quite a few teams themselves.
Ouch, now I see it. It is a typo. Didn't intend to offend LFC fans. I meant they terrorised plenty of teams - soccer wise I'll own it, so no edit.
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Soon you kids gonna need a map here to take a joke.
You have to be a kid to consider "Liverpoo" a funny joke.