What constitutes ‘knowing’?
If you mean having sufficient evidence to convict Mr. Madoff in a court of law, nobody had that until he confessed.
He will have a heart attack soon.
The law is pretty clear on “structuring” and transfers to offshore accounts. A banker doesn’t have to know *why* you’re structuring your transactions a certain way, all they have to do is report the activity. The activity could be completely legit, but the federal law still requires a report be made.
It would appear that the banks pretty much looked the other way... because one side of the bank was earning fat fees from Bernie, so the other parts did his bidding.
The bankers have now opened themselves to civil lawsuits (ordinarily I’d also add “and criminal charges,” but we all know that the bankers will walk away scot-free), and therefore they have failed in their fiduciary duty to their depositors and investors.