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Another large bank Nordea, suspected of money laundering



Nordea, the biggest bank in the Nordic region, is purportedly associated with being a piece of a noteworthy international money laundering outrage.

Nordea, the biggest bank in the Nordic region, is purportedly associated with being a piece of a noteworthy international money laundering outrage. The plan professedly included a Russian client and occurred over numerous years at an international branch of the bank that is currently shut.


Nordea Associated with Money Laundering

Nordic Region’s Biggest Bank Nordea Associated with Money LaunderingNordea Bank Abp (Nordea), a monetary administrations gather headquartered in Finland, is associated with money laundering, Cph Post Online gave an account of Tuesday. The biggest bank in the region is purportedly engaged with money laundering that occurred somewhere in the range of 2010 and 2013 “in the bank’s presently shut international branch for worldwide clients in Vesterbro [in Copenhagen, Denmark],” the distribution nitty gritty, including:

Nordea is associated with being a piece of a noteworthy international money-laundering embarrassment including a Russian client and an assessment organization.


Nordic Region’s Biggest Bank Nordea Associated with Money LaunderingThe news outlet expounded that “For very nearly four years, the fraud squad has attempted to seek after a criminal body of evidence against a Russian client and an organization in Belize in Focal America, associated with having ‘washed’ roughly 322 million Norwegian kroner [~$39 million] utilizing bank accounts in Nordea.”

Built up in 1820, Nordea at present has around 300 banks with branches, backups, and delegate workplaces in 17 nations. As per its site, the bank professes to have 1.7 million clients in Denmark, 2.8 million in Finland, 0.9 million in Norway, and 4.2 million in Sweden. “Nordea is the biggest monetary administrations assemble in the Nordic region and one of the greatest banks in Europe,” the bank portrays itself.


Reaction to Supposed Money Laundering

Nordic Region’s Biggest Bank Nordea Associated with Money LaunderingFollowing reports of its supposed money laundering contribution, a Nordea spokeswoman told Reuters in an email on Thursday, “To the best of our insight, Nordea isn’t under scrutiny from experts related to money laundering in the Baltics.”

Julie Galbo, Nordea’s central hazard officer, was cited by Cph Post Web-based conceding that the bank’s “anti-money laundering systems at Nordea had been deficient previously and guaranteed that significant changes have been made as of late.”


Jakob Dedenroth Bernhoft from Revisorjura, whose work centers around money laundering, remarked:

Nordea has been a decent bank to open a record at in the event that you need to launder money. The bank did not examine unusual exchanges.


As of late, Danske Bank has experienced harsh criticism for professedly laundering around $234 billion through its Estonian branch. Reuters revealed the biggest bank in Denmark saying Thursday that it has “got demands for information from the U.S. Department of Justice (DOJ) regarding a criminal investigation identifying with the bank’s Estonian branch.”


Bitconnect Scam: How to receive $2.5 Billion Refund from FBI?



FBI has then taken on the task of investigating the crimes that have been committed by Bitconnect and announced that it is seeking information from victims.

BitConnect: A cryptocurrency that became famous only for developing a major Ponzi scheme that valued the coin (BCC)for a market cap of $2.5 billion in the peak of December 2017.

The company proposed its value, which was that the users would receive up to 10% return on their investment each month. Bitconnect also claimed to use the strategy of tiered-investment which was based on the total amount of funds that an investor will initially deposit.

On 3rd Day of January 2018, BCC reached the top of its all-time high at $463, before plunging by 65%, down to $5 by the end of January. Bitconnect attempted to repay all investors for $363 per BCC, but by the time the investors received the coins, the price had already gone well below $10, making their refunds practically worthless.

Bitconnect tried to pay back to all its investors for $363 as per BCC, but by the time the investors received the coins, the price had gone down below $10, making their refunds worthless.

After receiving a cease order which was issued by the regulators in Texas and North Carolina, Bitconnect then announced that they would be shutting down their exchange and lending operations. The assets of the company got froze and the founders are currently under investigation.


Seeking information from the Bitconnect victims:

After the dozens of lawsuits filed against the company, FBI has then taken on the task of investigating the crimes that have been committed and further announced that it is seeking information about victims who may have lost their money by the Ponzi scheme.

FBI has prepared a questionnaire Based on the type of questions that are being asked, it looks like that the FBI is in search of anyone who is possibly involved in promoting Bitconnect.


The questions that the questionnaire consists of are:

  • Where did you first hear about Bitconnect? (Friend, Youtube, Event, Other)
  • How much money did you invest in Bitconnect?
  • What was the username associated with your Bitconnect account?
  • Who referred you to Bitconnect (if applicable)?

Based on these questions the FBI is investigating and looking into the case.


In the end:

Ponzi schemes seem to be around for decades, they always look into finding new ways to emerge and trick unsophisticated investors into pouring money into them. At last, hopefully, those people who lost money learned the most important lesson from experience.

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Is the Banking System a Fraud?



There are many other loopholes to the working of banks in the economy, but for now, these should be enough to open your eyes to the banking system.

You’ve worked the entire four weeks until your bones were dry from fatigue, you spent sleepless nights working on a project or an assignment and even over worked your body to an unhealthy degree- at the end of it all, however, you have your paycheck in hand. You finally have your wage, or do you?

The bitter fact is that it’s not you but your bank that has received the wage. In our day to day lives we are dependent, more than anything on banks for the money that we earn- when it should be the other way around; that is, banks should be depending on us instead for the money that they offer to the world.

And when one pays close attention- the entire system appears to be absurd! How can a third party that had no role in the amount of work that we did and efforts that we put have a say in the amount of money we can withdraw and the number of times we can withdraw it?

Today we are here to unleash some facts about the banking system which will show to you how the whole banking system is a sham:


Are all banks broke?

Yes, this is no act of God, or a natural calamity or a tsunami- all banks from the beginning have been broke. After all, they have no money of their own- any assets that they appear to have were provided to them by their initial customers.

True, they earn small amounts of interest on the money that we deposit with them, but it is indeed not enough to give them amounts large enough, such as 10 lakh, which they can offer to a minimum 100 people at once. So where is the money coming from? Well, it’s all fall system that we will slowly unravel.


Fractional Reserve Banking

Now, the biggest fraud that banks can possibly play is that they go ahead and offer more money than they actually have and this is primarily known as Fractional Reserve Banking.

As mentioned earlier, banks have limited money supply- all the money that they have to offer is what we deposit with them so how come when a person applies for a large loan the banks are ready to give that money as though it was theirs. The sad fact is that banks are actually offering ‘your’ money to others when giving out loans- and the credit security they offer is not half as true as it would appear.


False Credit Creation

We will now see how the banks create false money in the economy. Supposing you deposited one thousand dollars with the bank; the next step by the bank would be to keep ten percent ($100) of it as cash reserve and use the remaining, $900 as money owned by the bank itself. So now the bank has your money, which is one thousand dollars for appearance’s sake and 900 dollars as its own money. Thus, the total money increases to 1900.

And now suppose you want your thousand dollars back- here’s what the bank will do- just like you deposited money with the bank, there are many others who deposited money with the same bank in a similar fashion, the banks will use a small percentage of the money deposited by various people and give it to you back as ‘your’ money.

This is all just a hollow scheme.


The Central Bank

Perhaps the most significant loophole in the banking system of the economy is The Central Bank and its activities and the biggest sham that it plays is the printing of money or deficit financing.

Whenever the money supply in the economy is falling, banks resort to deficit financing and print more money, but the actual amount of goods and services in the economy remains the same. So although now, instead of $100 you have $200, you cannot get an extra bag of rice because the total production was not increased only the paper money was.



Real rise in the economy occurs when the total production increases and not the total amount of money circulating in the market. There are many other loopholes to the working of banks in the economy, but for now, these should be enough to open your eyes to the reality of the banking world.

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ICOs Keep Failing: How Not to Fall for a Scam



There are, however, 5 good indicators showing whether or not an ICO is a scam, and if these raise alarm bells, it is probably best to find one that doesn’t.

If you have been trading in the cryptocurrency arena for the last few years, no doubt you have come across ICOs. For those of you who aren’t in the know, an ICO is initial coin offering made by new cryptocurrency projects. Typically, these offerings are made by way of crowdfunding as a means to draw investment to kickstart the currency effectively and provide traders and investors with the opportunity to pick up potentially valuable tokens at a discounted rate.

The tokens are sold on the premise of a successful launch with investors being able to cash in if the project is successful by selling their tokens in the future. So far so good, ICOs are providing a solid base for investment with the opportunity to make generous returns when the platform is live.

The problem is that ICOs are often scams. In fact, it was estimated by ICO advisory group Statis that 80% of all ICOs that went to market was in fact scams set up by fraudulent individuals looking to make a lot of money and disappear as quickly as they had emerged.

That does mean, though, that 20% of all ICOs are legitimate and profitable, but with 4 out of 5 being outright scams, how can you tell the good from the bad? And how can you make sure your investment is with an ICO that could yield lucratively in the future?

5 Ways to Identify an ICO Scam

To start, it is important to highlight that there is no fool-proof way in determining whether an ICO is a scam or not. In an ideal world, scammers would be easily identifiable, but the problems arise due to the sophistication employed by scammers to get investment. There are, however, 5 good indicators showing whether or not an ICO is a scam, and if these raise alarm bells, it is probably best to find one that doesn’t.


Tip #1 – Understanding the Development Team

This is critical and should be your first concern when considering whether an ICO is a scam. Development teams for these projects often have good track records that are independently verified through third-party sources. This is primarily because it is very rare that a grass-roots ICO project with no development history or credentials would be legitimate.

Familiarize yourself with the team behind the ICO, “google” their head office, check their educational and business history on LinkedIn. If a development team or individuals behind the project have already contributed productively to the crypto world then it might be a key indication that they are legitimate.


Tip #2 – Get to Grips with the Whitepaper

An ICO whitepaper is very much like a business plan. It should identify the key areas that the ICO is looking to address, how it intends to achieve its goals, and more importantly, it should outline any concerns that the developers have. This last point is something that scammers often overlook as they don’t wish to perpetuate any negative connotations attached to their offering. This is because they want as many people on board as possible.

A legitimate whitepaper will highlight areas that the developers are wary of as well as ways in which they intend to combat them. It will show careful planning and contingencies being put in place from the outset.

If the whitepaper seems too good to be true, it likely is!


Tip #3 – Examine the Token

The offering for an ICO will be made through either a token or some tangible currency system. If an ICO has been set up honestly, it will be relatively straightforward for investors to view the system and token performance. This information should be accessible so that you can discern how a token has performed over time as well as view current performance.

Marry this information up to the claims and projections in the whitepaper, is it feasible that the token can achieve results in the way that the developers are claiming it can?

If you can’t track token’s performance at all, it is a clear indicator that something is not right about the ICO and you should move on to the next one.


Tip #4 – Take Everything with a Pinch of Salt

Tying back in with the feasibility mentioned in the previous point, always err on the side of caution when evaluating the company’s claims. If an ICO looks very attractive, but after evaluation of its performance you have been discouraged by borderline or poor performance, it is best to steer clear rather than expect a turnaround.

Cryptocurrency, in general, is rife with exaggerated claims and hype, only legitimate platforms retain value regardless of this. So it is very important you trust your gut instincts when deciding if a particular project is for you. If something doesn’t look right or doesn’t ring true, don’t make excuses for why that might be and move on instead.


Tip #5 – Spread Your Risk

Even the most seasoned investors have fallen for ICO scams. This is because they often appear very real. It is worth mentioning that you should never put all of your capital into one ICO but rather look at other offerings and balance out investments to find a dynamic that not only works for you but protects you if one is a scam.

If you have been caught out by a scam, think carefully about the process you employed when selecting that ICO, establish where you went wrong or what can be done differently. If you can’t do that, it is perhaps best to steer clear of the ICO market and look to other fantastic opportunities in the crypto world.

Some ICOs have had incredible success, but the ICO market is currently littered with poor ICO options that are purely there to rob you. Always be inquisitive, ask questions and make sure you feel comfortable before investing.

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