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It worked out fine for HSBC. AFAIK, nobody there went to jail for being the personal bankers to Mexican cartels. https://www.reuters.com/article/us-hsbc-probe/
by ForHackernews 8y ago
It worked out fine for HSBC. AFAIK, nobody there went to jail for being the personal bankers to Mexican cartels.
https://www.reuters.com/article/us-hsbc-probe/hsbc-became-bank-to-drug-cartels-pays-big-for-lapses-idUSBRE8BA05M20121212 https://www.reuters.com/article/us-hsbc-probe/hsbc-became-ba...
- yasp 8y agoWorked out fine for Citigroup as well. https://www.bloomberg.com/news/articles/2018-11-16/gett-is-said-to-court-buyers-as-ride-hailing-apps-battle-it-out https://www.bloomberg.com/news/articles/2018-11-16/gett-is-s...
- jondubois 8y agoIt worked out fine for all the people who sold toxic assets for a profit leading up to the 2008 crisis. The government has already made its stance clear. Crime is OK if it's done in a complex way. They just need to formalize it into a law that way citizens are aware of the complexity threshold that is required for a crime to be legal.
- pathseeker 8y agoWell not fine from a business perspective. The fines were larger than the money made from such activities. If HSBC were primarily a front for the cartels, it would have gone bankrupt.