Your guide to eight years of finance leaks

Erwin Oropesa

The FinCEN Files are another big leak of secret files, detailing the failure of major global banks to stop money laundering and financial crime. They also expose how the UK is often the weak link in the financial system and how London is awash with Russian cash.

The files include more than 2,000 suspicious activity reports (SARs), filed by financial institutions to the Financial Crimes Enforcement Agency, or FinCEN, a part of the US Treasury Department. They also include 17,641 records obtained through Freedom of Information (FOI) requests and other sources.

They were obtained by BuzzFeed News which shared them with the International Consortium of Investigative Journalists (ICIJ) and 400 journalists around the world. Panorama has led research for the BBC.

The files are the latest in a series of whistleblowing-led investigations that have rocked the world of finance in recent years.

So let’s round up the other major leaks

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The Best Workplaces for Women are expanding the turf for women in finance

Erwin Oropesa

Finance has typically not been welcoming to women. But the “boys club” of yesterday is changing. A sign of the times: Financial firms rule this year’s list of Best Workplaces for Women. Nine organizations in financial services and insurance earned a spot in the top 20—triple the number on last year’s list.

What’s behind the shift? One reason is that the industry is evolving, with the value of financial advice changing. Almost nowhere is digital transformation shaking up an industry as it is in finance. With a finger swipe across a smartphone, investors can access their accounts and see how their portfolios are doing.

But women are adding value in ways that “robo-advisers” cannot compute.

“In the past, the value of financial services or the value of a financial adviser was in constructing a portfolio or trading stocks,” said Kristin Johnson, chief human resources officer at Edward

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4 Top Finance Picks Amid Chances of Near Zero Rates Till ’23

Erwin Oropesa

The much-awaited Federal Reserve Open Market Committee (FOMC) meeting regarding the core monetary policy will be ending today afternoon. Per the CME Group FedWatch tool, there is a 100% chance that interest rates will be left unchanged this time as well.

The central bank’s decision will not be a surprise for the markets as in the June FOMC meeting, interest rates were left at 0.00-0.25%, with indications that it will be at the same level through 2022.

Further, in late August, the Fed announced a major change in its inflation policy, seeking to support the fall in unemployment level by targeting an inflation that averages 2% over time.

In order to balance for the periods of weaker performance by allowing inflation rates to go beyond 2%, the Fed might be looking to keep interest rates at near zero level for an even longer period, likely till 2023.

Can Upbeat Outlook

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