Bank of Credit and Commerce International (BCCI)

The Bank of Credit and Commerce International (BCCI) was an international bank established in 1972 that expanded rapidly across multiple countries. It engaged in traditional banking activities but also became involved in widespread illegal practices, including money laundering, fraud, and embezzlement. These illegal activities ultimately led to its collapse in 1991, making it one of the most significant banking scandals of the 20th century. The scandal highlighted serious issues in regulation and oversight, prompting reforms to improve transparency and prevent similar cases in the future.