The article recounts the notorious scandal of BCCI, highlighting its extensive involvement in fraud, money laundering, and regulatory failures. Legal battles over recovery of billions, allegations against the Bank of England for ignoring fraud, and eventual closure of major proceedings underscore unethical business practices and systemic regulatory capture that enabled the bank's misconduct over decades.

On July 5, 1991, authorities seized and shut down BCCI following revelations of extensive money laundering, illegal financing of terrorism, and other fraudulent activities. The scandal not only exposed deep ethical failures in business practices but also had far-reaching effects on global financial structures and regulatory oversight.

In 1991, the Bank of Credit and Commerce International (BCCI) was exposed for engaging in a massive money laundering operation estimated at $13 billion, involving the financing of terrorism, drug trafficking, and tax evasion. The scandal culminated on July 5, 1991, when multinational authorities intervened to shut down the bank, revealing deep-seated failures in ethical business practices and regulatory oversight.

The article recounts the historical scandal of the Bank of Credit and Commerce International (BCCI), detailing its involvement in money laundering, fraud, terrorist financing, and arms smuggling, which led to its closure by the Bank of England in July 1991, and highlights the continued absence of accountability decades later.

The video case study details BCCI's history of corporate governance failure including fraudulent accounting, reckless lending, massive money laundering operations, and regulatory oversight failures that eventually led to its collapse. These unethical business practices highlight severe breaches in corporate responsibility and contributed to significant regulatory reforms.