MercoPress. South Atlantic News Agency
HSBC grilled in US Senate for lax controls enabling billions of money laundering
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. Read full article
Comments
Disclaimer & comment rulesEnglish Banks are too big,should be minimized.
Jul 17th, 2012 - 08:04 pm - Link - Report abuse 0Oh here we go again, first Wachovia bank (part of Wells-Fargo), then Bank of America, and now HSBC. But ach, it was an accident, no jail time, it's nothing, all go back to sleep.
Jul 17th, 2012 - 08:55 pm - Link - Report abuse 0Corruption in UK? Not possible :-))
Jul 18th, 2012 - 03:07 am - Link - Report abuse 0Just helping the Mexican drug lords, Al Qaeda an Iran to launder billions.
Marcos- corruption is not impossible in UK - BIG difference is though that when it is found out it is thoroughlly investigated and sorted and if needs be folk go to jail.
Jul 18th, 2012 - 11:27 am - Link - Report abuse 0Do compare that with some Arg politicians and big business please?
I did wonder why HSBC and Barclays avoided a “bailout” though- appears they were doing a bit more that riske deals like the others and actually fiddling instead! I think they both will pass the entry exams to move to Argentina.
@Islander1
Jul 18th, 2012 - 12:17 pm - Link - Report abuse 0oh! Dio another flag waiver wanted to show a perfect Britain.
The only perfect thing in Britain is the bad weather, yes never fails.
The rest just a bunch of hypocrites living in denial all the time.
If what you say would be near to 10% close to reality the 80 % of your elite and politicians would be all in jail for life.
Only the idiots and poor go to jail in Britain.
Tell me how many sir lords have you seen in jail involved in bank scams and fraud?
None they give to themselves a huge bonus and then move to the next scam.
None is able to control anything in Britain is bad for business especially the money laundering stuff.
DB - if you bothered to research you would see that some caught doing criminal things have indeed been sent to enjoy a spell at “Her Majestys Pleasure”! But in Britain you have to be proven in Court first - not just because a newspaper or two think so-and-so is guilty!
Jul 18th, 2012 - 09:05 pm - Link - Report abuse 0And for all we know it may be the bad boys in HSBC are not even British anyway - it is after all a multinational bank!- even has a branch or two in Argentina!
I could not care what nationality someone is - if they can be proven to have been involved in illegal activities - then inside they go!
Islander
Jul 19th, 2012 - 02:35 am - Link - Report abuse 0“But in Britain you have to be proven in Court first”
HSBC documents show that they knew from the beginning what they were doing, let me know when the executives go to jail Zzzzzzzzzzzzzz.
@Islander1
Jul 19th, 2012 - 09:50 am - Link - Report abuse 0Oh! Poor Islander he has been so indoctrinated that he cannot support to see the truth about his little corrupted country. Full of crooks making money on expenses of poor taxpayers.
Well denial after all is a way of psychological self-defence to avoid facing reality.
I guess none can blame you...
@8 You have just described an Argentine to a T.
Jul 19th, 2012 - 10:26 am - Link - Report abuse 0I agree.......HSBC is too large and fucking everyone in the USA. I and many other Americans want them out of our country. Capitalism is great they are just filthy fucking greedy. The US Senate Finance, Housing comittee is presently marking a new spot where they want Irene's new asshole.
Jul 19th, 2012 - 06:01 pm - Link - Report abuse 0Commenting for this story is now closed.
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