I recall a news story from a few years ago (can't find it now)... There was once a bank that looked the other way when lots of shady cash came in, allowed tran

I recall a news story from a few years ago (can't find it now)... There was once a bank that looked the other way when lots of shady cash came in, allowed transfers of those amounts to to foreign banks, basically ignored KYC rules, etc. Word got around, and lots of criminals all over started using this bank for all of their money laundering purposes. Some banking authority started noticing a lot of suspicious transactions, and was preparing to shut the whole thing down, disconnect the bank from all transfers, raid offices, arrest employees, trumpet press releases about how they're protecting the American financial system, etc... (ie, exactly what they are supposed to do). The bank was, of course, a honeypot run by some other 3-letter agency, who was actively facilitating money laundering in order to collect enormous amounts of info about who was involved. (basically the banking version of that 'encrypted phone' scheme). The raids were mere hours away when someone put two and two together, and managed to get it called off.