My understanding is that US pressure has eliminated banking privacy there. But, the US doesn't, AFAIK, have access to accounting and tax information of entities there other than bank records.
This is a majore accusation--not only the favoritism part in the granting of the sure to profit loans--but also the implication of tax fraud through unreported earnings off of those loans.
But, that part is just a guess; the favoritism seems obvious.
I think a lot of their actions have been predicated on the idea that “We will never be investigated; we are untouchable”.
That works if they have powerful friends, and if they take some basic precautions to obscure the essence of what they’re doing. But when the curtain is drawn back, all is revealed and it ain’t pretty.