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HSBC fined 1.9bn for money laundering for drug barons and rogue nations

Wednesday, December 12th 2012 - 21:13 UTC
Full article 15 comments

The US said “dangerous practices” at HSBC allowed the bank to pass money to “drug kingpins and rogue nations”, as it fined it 1.9 billion dollars. HSBC agreed the fine, the largest of its kind, earlier on Tuesday. Read full article

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  • Pirate Love

    fair enough, But when is it the turn of the us banks?

    Dec 12th, 2012 - 09:35 pm - Link - Report abuse 0
  • Captain Poppy

    If you think we are jumping only on foreign banks, google the ass whipping my government levied on Bank of America. That 1.9 billion pales in comparison to BoA's fines.

    Dec 12th, 2012 - 09:50 pm - Link - Report abuse 0
  • Fido Dido

    And NONE go to jail. Oh how wonderful. As Gerald Celente says, forget about JUSTICE, it's JUST US who don't belong to the club.

    Dec 12th, 2012 - 11:27 pm - Link - Report abuse 0
  • Shed-time

    US banks don't ever do anything wrong. It's like US companies like Haliburton are never culpable for their oil well covers that fail (gulf of mexico, east timor, etc). Only 'british' companies like BP, HSBC do things wrong... and get fined accordingly.

    Gosh, how could you suggest that.

    Dec 12th, 2012 - 11:40 pm - Link - Report abuse 0
  • Captain Poppy

    #4 seems you don't read the news in the USA to make that statement. Are you stupid or just a moron?

    Dec 13th, 2012 - 12:08 am - Link - Report abuse 0
  • Pirate Love

    regardless of our country allegiances, i think i can safely say its none of us here who make these outrageous decisons at such astronomical levels, we will just pay for them down the line one way or another, its just business!

    Dec 13th, 2012 - 12:26 am - Link - Report abuse 0
  • Captain Poppy

    it's what happens when too much deregulation hits.

    Dec 13th, 2012 - 12:49 am - Link - Report abuse 0
  • Marcos Alejandro

    ”HSBC allowed the bank to pass money to “drug kingpins and rogue nations”

    British Gangnam style.

    Dec 13th, 2012 - 04:03 am - Link - Report abuse 0
  • lsolde

    Of course, Marcos, that could NEVER happen in Argentina! could it?

    Dec 13th, 2012 - 09:54 am - Link - Report abuse 0
  • Captain Poppy

    That happens in argentina in the normal course of politics let alone daily banking.

    Dec 13th, 2012 - 11:34 am - Link - Report abuse 0
  • cedders

    Wachovia bank laundered billions of $ for the Mexican cartels. Its board would not listen to its MLRO when he uncouvered this. He became a whistleblower to the DoJ and was sacked by Wachovia. They were later fined US$110 million which was peanuts compared to what they'd laundered. They should have been shut down. Traffickers can't operate without the banks laundering their money, there needs to be big prosecutions or banks have their licenses withdrawn to make an example of them.

    Dec 13th, 2012 - 01:42 pm - Link - Report abuse 0
  • Captain Poppy

    I hardly think that putting 25,000 employees out of work at Wachovia is the right course of action. Prosecuting the BoD with jailtime sends the message loudly. And it wa actually 160 million, still peanuts. I have always been an advocate of BoD's, CEO and such doing jailtime for corporate crimes. But putting the bank tellers makeaing $12 an hour out of work does not fix the problem.

    Dec 13th, 2012 - 03:15 pm - Link - Report abuse 0
  • Fido Dido

    ”HSBC allowed the bank to pass money to “drug kingpins and rogue nations”

    “British Gangnam style.”

    Indeed, like jumping monkies sniffing their own drugs.

    Dec 13th, 2012 - 05:09 pm - Link - Report abuse 0
  • slattzzz

    Difference is they will pay it and be done with it, crack on and things will go back to normal, when will rgenweener pay her debts?

    Dec 13th, 2012 - 05:30 pm - Link - Report abuse 0
  • Think

    (3) Fido Dido

    I usually do not agree with your “Apocalyptical Economic Theories” but I totally agree with your post No. (3).....:
    “ And NONE go to jail......
    Forget about JUSTICE, it's JUST FOR US who don't belong to the club....”

    Anyhow...
    Banks are like condoms.....
    They protect a lot of pricks.....
    And give you a sense of security......
    While you actualy are being screwed.......

    Dec 13th, 2012 - 07:02 pm - Link - Report abuse 0

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