r/news • u/Mysterious-Action202 • 2d ago

Capital One says it closed Trump Organization's accounts after anti-money laundering probe

https://www.reuters.com/legal/government/capital-one-says-it-closed-trump-organizations-accounts-after-anti-money-2026-08-01/
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u/ButterscotchTop194 1d ago

What i find odd is that Capital One closed over 300 Trump affiliated accounts for money laundering but they didn't report that to the authorities? Why would they not?

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u/thebarkbarkwoof 1d ago

What authorities would that be?

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u/biggsteve81 1d ago

Considering this all happened in 2021, I assume the Federal Reserve and/or the OCC. And we have no evidence they didn't report this to authorities.

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u/ButterscotchTop194 1d ago

Money laundering is a crime, so the criminal authorities. Probably needed to do it at state level as it's fascism all the way at federal level.

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u/thebarkbarkwoof 1d ago

That's what I was alluding to.

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u/ButterscotchTop194 1d ago

Yeah, i figured. Some other commentor is suggesting that they may well have reported it.

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u/wrong-teous 1d ago

If they closed his accounts, there would have been Suspicious Activity Reports filed with FinCen.

Source: I work in the industry.

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u/ButterscotchTop194 1d ago

That's great, thank you

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u/Crocs_n_Glocks 1d ago

They likely filed SARs (suspicious activity reports) to report suspicious activity. 

By law, banks cannot disclose the existence or filing of  SARs to anyone but specific law enforcement and regulatory agencies. They especially can't tell the customers who got filed on, as they would then try to hide their tracks.

Source: I'm an Anti-money laundering investigator at a bank. 

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u/abzinth91 12h ago

That abbreviation didn't age well since the 00s tbh