HSBC

HSBC Whistleblower Details Funds To Terrorists And Drug Cartels

HSBC Is Reverting Back To its Roots Of Financing Criminals. HSBC Whistleblower Details How HSBC Funds Terrorists And Drug Cartels. HSBC Holdings’ Mexican branches had become so well-known to drug traffickers as the place to launder proceeds from illicit sales that cartels began using special boxes to speed transactions, US prosecutors said. From 2006 to […]

Bank Founded By 19th Century British Drug Dealers In Trouble Again

HSBC Accused Of Writing Ghetto Loans KATE BRUMBACK, AP via Huffington Post Three Atlanta-area counties have filed a lawsuit claiming that British bank HSBC cost them hundreds of millions of dollars in extra expenses and damage to their tax bases by aggressively signing minorities to housing loans that were likely to fail. The Georgia counties’ […]

Obama Administration Concedes to “Too Big To Jail”

Mark Gongloff, Huffington Post One of the great things about being too big to fail is that you’re also too big to jail, apparently. So saith the Obama administration, via the New York Times, in its front-page story on Tuesday about HSBC’s settlement with the government over money-laundering charges. Though the British banking giant had to pay […]

4 Out Of 5 Mexican Drug Dealers Prefer HSBC For Money Laundering

South China Morning Post HSBC Holdings’ Mexican branches had become so well-known to drug traffickers as the place to launder proceeds from illicit sales that cartels began using special boxes to speed transactions, US prosecutors said. From 2006 to 2010, the Sinaloa cartel in Mexico and the Norte del Valle Cartel in Columbia moved more […]

HSBC To Pay $1.9 Billion To Resolve Allegations Of Money Laundering

Mark Gongloff, Huffington Post This may be the world’s largest wrist slap. British banking giant HSBC, Europe’s biggest bank, is set to pay $1.9 billion to settle accusations that it didn’t do enough to stop money laundering in its branches, the Wall Street Journal reported on Monday. According to the WSJ, the U.S. government could announce the […]

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