FINCIN Shuts BPA BANK, Questions are raised following accountability of Actions

Fincon And the corruption within.

Recently BPA BANK (nestled in the little principality of Andorra) was accused of money laundering which was perceived as so systemic that it was necessary to close the entire bank down affecting all the 70k clients and the 250 employees. If that was not enough their will be a fine to ensure the bank never does any money laundering again. Of course the amount of the fine is directly proportional to the amount of the laundering. You can’t close a bank or fine it excessively for a small amount that’s been discovered as money laundering. That would be absurd, so if you’re in the business of handing out fines, how do you increase the fine to the maximum amount?

Answer: let the bank continue for years unaffected until the amounts become large enough to make such claims!

Allegedly FINCIN has made no claims about money laundering when they first noticed it.  They claim the laundering was done in small batches of $100k over the course of many years. They also claim they have been watching the bank for over 4 years.

Well if they have been watching all this money going to rogue individuals in small chunks WHY HAVE THEY ALLOWED IT TO HAPPEN. Why have they not stopped the bank at the beginning when they first saw something suspicious?  Clearly they were more interested in levying the biggest fine they can apply rather than blocking the illegitimate funds from reaching the rogues.

Imagine the situation now as all the innocent people who have used the bank honestly for normal businesses purposes currently have their money blocked. BUT the scoundrels who were laundering money all got their money through the system and are sitting comfortably.  Every chunck being watched and allowed to pass so that FINCIN could make an even bigger allegation. It appears FINCIN haven’t let morals get in their way of making a fortune by turning a blind eye to the corruption to allow it to increase.

If you are a government body, you have a moral and legal duty to limit the damage to innocent people. You cannot discover that the tap is leaking but decide to leave it leaking knowing full well the water damage will increase and eventually flood everyone living in the house.
That’s exactly what FINCIN have done in this case because they knowingly could not apply large fines onto the bank for small breaches of the rules. Instead they have let the rogue in bank continue to operate for many years and sat back while each corrupt dollar safely arrived to its corrupt destination.

Adding insult to injury the head of bank who was obviously involved, actually managed to remove his corrupt commissions and personal stash the day before the all the other banking organizations were informed they could not deal with BPA. That FINCIN paper was circulated on the 10th march but the FINCIN REPORT is dated the 6th of March and that was clearly when the banker found out, so FINCIN have inadvertently or knowingly advised the man at the center of the allegations allowing him to get his money out before they informed anyone else!


So what money laundering or criminal money has actually been stopped from getting to its corrupt destination DIRECTLY AS A RESLT OF FINCINs work and investigations? It appears to be NONE so far. Instead they have allowed all the corrupt money to get to it’s rogue destination and at the same time blocked the thousands of honest clients of the bank along with putting into jeopardy the jobs of the hundreds of honest workers at the bank. That’s morally unforgivable and unjustifiable.


The agenda of FINCIN would appear to coincide with another more lucrative business model, that of banking FINES. They have demonstrated by their actions ZERO interest in stopping the laundered money reaching its destination. Instead they sat back and let the sum accumulate, knowing full well that a larger fine would be justified and subsequently paid directly to the USA government.  


You can point the finger at a corrupt banker, you can arrest that one man, thats fair, or you can point the finger at a corrupt transfer, blocking it from its destination and stopping further money being funneled though that system (nipping it in the bud), but you can’t sit back for years allowing this to occur knowing full well it was going on, while stopping none of the money getting to its destination and then make wild allegations that the accumulated funds have reached billions of dollars and therefore fines will be billions and the bank should be closed until it pays up. That’s corruption of the lowest kind!


When did FINCIN first know about money laundering at this bank?
What transactions have they blocked as a result of that knowledge the money was dirty?
How much corrupt money have they let pass through their hands?
How many people have they got proof are corrupt?
What corrupt transactions have they seen and when? 



FINCIN or the USA government require transparency for such banks, well its about time that FINCIN provided the evidence they have against the bank. Instead of making wild allegations that the whole bank is involved in money laundering or that all of the clients of the bank are corrupt and deserve to have their money blocked.


Delaware is the home of the USA tax haven for internationals who avoid tax in their own countries and also home to many corrupt outfits who systemically con and defraud thousands of innocents the world over with little regulation or control. When was the last FINCIN allegation made against a corrupt Delaware organization?


Many of the clients of BPA Bank are organizing an association with a website BPA BANK CLASS ACTION in order to ensure their interests are being accounted for. So far the accountants from PWC have suggested the bank should be broken up into a GOOD bank and a BAD bank. Separating out all the accounts that were offshore and involved with the same Panamanian lawyers who were allegedly involved with the money laundering. But what does that do to really separate the good and bad clients. Since the bank normally advised all of its international clients to use similar legal structures, and the bank organized the procedure for the clients which was set up in the same way for nearly all of the clients who have used them in the past 10 years or more, who now have similar legal structures, with Panamanian incorporation’s, set up with the same lawyers and directors.


To really separate the clients into good and the ’illegal’, we need to understand that there is nothing illegal with running businesses that were incorporated in Panama. Nor was there nothing illegal about them companies not paying tax in the surrounding European counties, since that is what were really talking about here. Many of the clients of the bank were no doubt operating legitimate businesses in the same way as any international business does, and choosing to have their tax residency in Panama where worldwide income is not taxed. That was NOT illegal at the time and is not illegal now.

Separating the banks clients in such a simplest way is not going to do anything to calm the nerves of the hundreds of thousands of international clients who use the four other BANKS in Andorra, who must be looking on with fear that their cash held on account with the other four major banks is going to remain liquid. Further that none of this spill over will not affect them also.  


Lets predict, if the bank is separated into a GOOD and BAD bank according to the tax status of the companies who were using the bank and who as a result of the banks advice incorporated in Panama, then the whole of the country will be subject to a massive loss of trust while all the international clients who use the other banks will obviously move their accounts and more importantly their money into safer destinations that continue to work according to the rule of law instead of starting to act as policemen for the European governments who are hellbent on instead of capping their own spending and being more frugal with their demands, increase their taxes to crippling levels hindering normal business making it less competitive and unable to compete across this ever smaller international market place.


Governments have to understand that to operate a business internationally is not a crime, it is the job of a company to lower its costs and increase its trade, making itself competitive internationally and compete globally, therefore providing jobs and incomes for families in Europe, without the hinderance of such taxes that we see levied in Spain and France, two of the worst run governments in Europe who have no regard for the work of the companies struggling to operate within those hostile tax environments and who are normally treated as criminals for simply trying to get by internationally and provide jobs and income to those dependent on them!

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