Michael Flynn’s Bank Raised Alarms On Transactions, But Only After Trump Fired Him
Secret government documents identified more than $500,000 in payments originating in Turkey.
In 2017, Michael Flynn, President Donald Trump’s first national security adviser, acknowledged that he concealed lobbying work that may have helped another country, Turkey. That’s when Bank of America decided it was time for action.
It examined Flynn's business account there, and sent the US Treasury Department what is known as a suspicious activity report about $530,000 in wire transfers that originated from a Turkish bank account.
The half-million dollars Flynn’s firm received has been previously reported. But the writing of the suspicious activity report, and its receipt by the Treasury Department’s 's Financial Crimes Enforcement Network, or FinCEN, has not. This new information highlights a major finding of the FinCEN Files investigation: Banks often miss suspicious transactions when they occur.
By law, banks must notify the government when they detect transactions bearing the hallmarks of money laundering or other financial misconduct; these signs include large, round-number transactions or payments between companies with no discernible business relationship. But time and again, the FinCEN Files investigation shows that banks examine suspicious activity only after they are prompted by events in the news.
https://www.buzzfeednews.com/article/jasonleopold/fincen-files-michael-flynn-bank-of-america
https://s3.documentcloud.org/documents/7225231/Bank-of-America-Flynn-Intel-Group-May-2017.pdf
Bank of America — Flynn Intel Group, May 2017
Bank of America comment p. 3
Michael Flynn comment p. 3
Dmitry "David" Zaikin comment p. 4
Bijan Rafiekian comment p. 4
Yapi Ve Kredi Bankasi comment p. 5
Rudi Bakntiar comment p. 5
Michael Boston comment p. 5