MercoPress http://en.mercopress.com/ South Atlantic News Agency en Copyright 2013, MercoPress. http://en.mercopress.com/web/img/en/mercopress-logo.gif MercoPress http://en.mercopress.com/ <![CDATA[Mexico banking regulator says it repeatedly warned HSBC on money laundering]]> Guillermo Babatz, head of Mexico's banking and securities commission: HSBC controls were lax Mexico's banking regulator on Tuesday defended its role in a money laundering scandal engulfing HSBC Holdings Plc, saying it had repeatedly told the bank to improve lax controls over suspect funds passing through its accounts.

]]> Wed, 18 Jul 2012 07:59:00 GMT <![CDATA[HSBC grilled in US Senate for lax controls enabling billions of money laundering]]> Irene Dorner, president and CEO of HSBC Bank USA apologized to the Senate Investigations subcommittee (Photo: Bloomberg) The CEO of the U.S. division of the big international bank HSBC is apologizing for lax controls that lawmakers say allowed Mexican drug cartels to launder billions of dollars through the US operation and many other illicit transactions for years.

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