5 hours ago @ BBCNews.com

Leaked documents involving about $2tn of transactions have revealed how some of the world's biggest banks have allowed criminals to move dirty money around the world.They also show how Russian oligarchs have used banks to avoid sanctions that were supposed to stop them getting their money into the West. It's the latest in a string of leaks over the past five years that have exposed secret deals, money laundering and financial crime [....]

Why is this leak different?

There have been a number of big leaks of financial information in recent years, including:[....]

The FinCEN papers are different because they are not just documents from one or two companies - they come from a number of banks. They highlight a range of potentially suspicious activity involving companies and individuals and also raise questions about why the banks which had noticed this activity did not always act on their concerns.

FinCEN said the leak could impact on US national security, compromise investigations, and threaten the safety of institutions and individuals who file the reports. But last week it announced proposals to overhaul its anti-money laundering programmes.The UK has also unveiled plans to reform its register of company information to clamp down on fraud and money laundering.