HSBC puts aside 2 billion dollars to cover possible money-laundering fines

Monday, July 30th 2012 - 23:35 UTC

Full article 5 comments

HSBC has put aside 2 billion dollars to cover potential mis-selling claims and money-laundering fines as it announces a sharp rise in first-half profits. Read full article

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Marcos Alejandro
Crooks.
Jul 31st, 2012 - 04:19 am - Link - Report abuse 0
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GeoffWard2
PPI is old news, and the calculated cash is already long allocated.

The interesting one is money-laundering fines, etc;
especially those originating in the USA.

It is no surprise that the USA authorities chose a 'non-US' bank to go for first.
The Hong Kong & Shanghai Banking Corporation pressed all the right buttons, especially in an election year.
The chasing of US banks will wait until after the USA elections .... and, depending on outcomes, may not ever happen :(
Jul 31st, 2012 - 01:29 pm - Link - Report abuse 0
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Truth_Telling_Troll
At this point, all banks around the world should be intervened by the governments. Then broken up into 1000 pieces, and auctioned to entrepeneurs.
Jul 31st, 2012 - 05:08 pm - Link - Report abuse 0
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Ottona
It is the beginning of the skewering of Britain's banks: New York Times reports that the thousands of lawsuits against Britain's banks over the “Libor” rate fraud will probably cost up to $ 70 billion and stretch over years to come...
Aug 01st, 2012 - 08:18 pm - Link - Report abuse 0
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GeoffWard2
Lets not get Libor mixed up with illegal laundering of drug money.

A tit for tat never-ending process of governments and non-governmental bodies bringing other country's banks into the courts will bring down many banks, state banks and states.
This is not in anybody's interest.
Aug 01st, 2012 - 09:53 pm - Link - Report abuse 0
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