Among the millions of pages in the Epstein files is a letter unremarkable except for the fact that the French bank BNP Paribas was addressing it to “Mr. Epstein Jeffrey”: “Dear Sir, we are pleased to inform you that your INFINITE card is available at your branch. You may collect it from today (…).” Dated August 21, 2014, the letter, corroborated by several hundred other documents declassified by the US Department of Justice, confirms that the disgraced financier and notorious sex offender held a current account and a savings account at BNP Paribas.

Epstein kept only a small portion of his wealth in this account, ranging from $50,000 to just over $200,000 depending on the year. He still conducted numerous transactions through it. The account remained open until mid-2018, as shown by the documents.

How did Epstein, surrounded by such a toxic reputation, manage to hold an account at a bank known for its vigilance over reputational risks? More importantly, how did he keep it until 2018? Don’t banks have the freedom to drop “high-risk” clients? What about the core rule in the fight against money laundering, “know your customer,” which requires banks to identify clients and flag suspicious activity so it can be stopped?

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