Massive lending to related parties. Opaque ownership structures with the real owners hiding behind a mass of nominal directors. Window-dressing of financial reports. Fake correspondent accounts at foreign banks. Politically motivated lending by state-owned banks, resulting in large losses and a subsequent massive injection of public funds. Money laundering as a bank’s business model. Shareholders and management walking away from failed banks with clients’ money, escaping charges for driving them to bankruptcy...
Sounds like a horror movie? Impossible in real life?
