Bank of Credit and Commerce International (BCCI)

The Bank of Credit and Commerce International (BCCI), a large private bank founded in 1973, engaged in various lines of illegal activities, ultimately leading to its demise. Its name is associated not only with illicit practices and financial scandals (e.g., fraud, money laundering, fund diversions, account falsification, deceitful management) but above all with the fact of having worked as a front to cover up other dirty business on the margins of banking activity, including drug trafficking and international terrorism, among others.

The BCCI, founded by the Pakistani Agha Hassan Ahbedi, had its headquarters in Luxembourg and was controlled by the Emirate of Abu Dhabi. In its day, it was considered the seventh largest private bank in the world, with a turnover of more than $30,000 ...

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