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Capital One says it closed over 300 Trump Organization accounts after anti-money laundering probe
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NEWSDECK ANALYSIS
The Trump Organization, a business conglomerate owned by the former US President Donald Trump, has a complex financial history, with various investigations and probes into its dealings over the years. Anti-money laundering regulations require financial institutions to monitor and report suspicious transactions, and banks like Capital One have a duty to comply with these regulations to prevent illicit activities. The closure of these accounts may indicate that Capital One identified potential risks or irregularities in the Trump Organization's financial activities.
This story is currently only covered by 2 sources from a limited part of the political spectrum. NewsDeck will update this page automatically if other outlets pick up the story.
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Independent World
Capital One says it closed over 300 Trump Organization accounts after anti-money laundering probe
Capital One first notified the Trump Organization of its intention to close more than 300 affiliated bank accounts in March 2021
2 Aug, 17:07
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GB News
Capital One says Trump Organization accounts were closed over anti-money laundering concerns
Capital One has said it closed more than 300 bank accounts belonging to the Trump Organization because of anti-money laundering concerns, according to a court filing.
The disclosure was made as part of the bank's latest attempt to have a lawsuit brought by the Trump Organization dismissed.
Although Capital One stopped short of accusing the organisation of unlawful money laundering, the filing states that "documents…
3 Aug, 07:38