MercoPress. South Atlantic News Agency
Mexican regulators impose highest fine ever on HSBC for money-laundering
Mexican regulators have imposed a fine of 27.5 million dollars on banking giant HSBC for its failure to comply with money-laundering regulations. Read full article
Comments
Disclaimer & comment rules“Mexican regulators have imposed a fine of 27.5 million dollars on banking giant HSBC for its failure to comply with money-laundering regulations”
Jul 28th, 2012 - 06:05 am - Link - Report abuse 0I wonder if this regulators received bribes from HSBC to look the other way for years.
Not to mention Walmart that paid $24m in bribes to Mexican officials for example.
The HSBC case has nothing to do with government corruption, of course there´s plenty of that in Mexico, our mexican politicians wrote the book, the corrupted brazilian politicians are nothing more than copy-cats.
Jul 28th, 2012 - 02:24 pm - Link - Report abuse 0Bank regulations in Mexico are very strict today. No individual can deposit more than 1,700 dollars in a bank in one month, and with special permit you are allowed to deposit a maximum of 4,500 usd. You can buy all the dollars you want, but you cannot deposit them into the banks once you have bought them. All cash deposits are heavily taxed, so buying cars or houses has to be done by check or wire transfer or debit or credit cards. All these mechanisms are in place precisely to stop drug dealers from being able to launder their dollars. Car agencies, real estate, shops, they all prefer electronic purchasing.
But NAFTA is the largest trade bloc in the world, the trade between the US, Canada and Mexico is in the hundreds of billions, Mexico exports more than 260 billion usd and buys more than 160 billion from the US, consequently hundreds of billions of dollars are traded every day between mexican and american banks and there will be always an opportunity to do money laundering , specially if the bank´s internal procedures are relaxed.
oh there you go again. typical mexican..burito eater.
Jul 30th, 2012 - 03:34 am - Link - Report abuse 0Brazil and other south american nations are less corrupted than your shitty nation Monterryburitohead. But ach, as usual, mexicans prefer look the otherway “oh oh, they are corrupted too”.
As i typed many times. Mexico is a shit hole. It exports it's people to the US to send money back home. It's politicians are so corrupted but when caught, they act tough and blame it on the US and in this case like to talk also of corruption in other nations. If Nafta was such a success, Mexico would not export it's people to the US...oh wait...majority of the wetbacks prefer live somewhere else.
“Bank regulations in Mexico are very strict today”
They are so strict, that corruption is still rampant and none go to jail if caught. same case with the walmart scandal..and now with HSBC. Bank of America also got caught red handed bribing mexican politicians not to do anything.
Fido,
Jul 30th, 2012 - 12:01 pm - Link - Report abuse 0You are typical product of brazilian racism. A country with 70% black people with almost zero representation in politics, business, arts, fashion.
I am sorry for you.
4
Jul 31st, 2012 - 04:49 am - Link - Report abuse 0Fido is from Holland....Europe :-)
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