4 ms·

Data loss is a good thing at HSBC, banker of the criminals and terrorists™️[1], for when the feds come knocking [1] https://www.theguardian.com/business/2012/d

Data loss is a good thing at HSBC, banker of the criminals and terrorists™️[1], for when the feds come knocking [1] https://www.theguardian.com/business/2012/dec/11/hsbc-bank-us-money-laundering https://www.theguardian.com/business/2012/dec/11/hsbc-bank-u...

mpweiher 6y ago
MongoDB: The best DLAAS solution money can launder. (Data Loss as a Service™)
ncmncm 6y ago
Is HSBC still the bank favored by the CIA for its money laundering needs? I had read that for an FBI agent to look into HSBC was a "career-limiting move", but that was 10 years ago. Maybe CIA have moved to another by now?
- rumanator 6y ago
  > I had read that for an FBI agent to look into HSBC was a "career-limiting move" Do you have any source that substantiates your assertion?
tluyben2 6y ago
2012 ... they are very strict now. Not saying it cannot happen but at least for normal people it's hard. They check far more than any other bank i'm with and compared to challenger it's almost a black comedy how much you need to fill out, prove, sign etc to open an account. At least in HK hometown. Disclaimer: I have an account there.
- rapsey 6y ago
  Or it is all theatre.
  - tluyben2 6y ago
    Like I said, could be, but if I wanted to do something not entirely on the up-and-up, I would just open a challenger/neo-bank account in 5 minutes from my home and do it in there. Not somewhere where they have proof of everything I have and do which I need to refresh every year.
  - omginternets 6y ago
    Please stop with the FUD. If you have a substantiated claim, please make it. Otherwise you’re not adding anything to the discussion.
    - ric2b 6y ago
      They've been caught laundering money many times over the years, what makes you think they finally changed?
      - deleted 6y ago
        [deleted]
HenryBemis 6y ago
I was daydreaming earlier on how these mega-big banks can get away with everything (HSBC, Barclays, DB, MS, BAML, etc. etc.) and how nice would it be if all these super complex scheming products that are leverage upon leverage upon leverage would disappear tomorrow.. These mega-big banks and their practices, ranging from LIBOR manipulation, scamming retail banking practices, scamming their own IB/FX customers..). And they get away with it. As much as I dislike religion (I love the notion of Faith, but I dislike the self-identified 'representatives of gods'), I believe that the most ethical type of Banking is the Islamic Banking (again, not about the religion)(gods that give cancer to little kids to "test their faith" are not my type of gods).
- rowawey 6y ago
  I didn't downvote but I talked to my mechanic, a Sunni Muslim from Iraq via Dubai, about this very topic last year. He said they all charge fees unless you're from an important family and know a money lender. It's kind of a scam because they're more or less just like every other bank.
omginternets 6y ago
That’s a stretch. Carefully-controlled deletion with plausible deniability is a good thing. Uncontrolled data loss is most assuredly not.

mpweiher 6y ago

MongoDB: The best DLAAS solution money can launder. (Data Loss as a Service™)

ncmncm 6y ago

Is HSBC still the bank favored by the CIA for its money laundering needs? I had read that for an FBI agent to look into HSBC was a "career-limiting move", but that was 10 years ago. Maybe CIA have moved to another by now?

rumanator 6y ago
> I had read that for an FBI agent to look into HSBC was a "career-limiting move" Do you have any source that substantiates your assertion?

tluyben2 6y ago

2012 ... they are very strict now. Not saying it cannot happen but at least for normal people it's hard. They check far more than any other bank i'm with and compared to challenger it's almost a black comedy how much you need to fill out, prove, sign etc to open an account. At least in HK hometown. Disclaimer: I have an account there.

rapsey 6y ago
Or it is all theatre.
- tluyben2 6y ago
  Like I said, could be, but if I wanted to do something not entirely on the up-and-up, I would just open a challenger/neo-bank account in 5 minutes from my home and do it in there. Not somewhere where they have proof of everything I have and do which I need to refresh every year.
- omginternets 6y ago
  Please stop with the FUD. If you have a substantiated claim, please make it. Otherwise you’re not adding anything to the discussion.
  - ric2b 6y ago
    They've been caught laundering money many times over the years, what makes you think they finally changed?
    - deleted 6y ago
      [deleted]

HenryBemis 6y ago

I was daydreaming earlier on how these mega-big banks can get away with everything (HSBC, Barclays, DB, MS, BAML, etc. etc.) and how nice would it be if all these super complex scheming products that are leverage upon leverage upon leverage would disappear tomorrow.. These mega-big banks and their practices, ranging from LIBOR manipulation, scamming retail banking practices, scamming their own IB/FX customers..). And they get away with it. As much as I dislike religion (I love the notion of Faith, but I dislike the self-identified 'representatives of gods'), I believe that the most ethical type of Banking is the Islamic Banking (again, not about the religion)(gods that give cancer to little kids to "test their faith" are not my type of gods).

rowawey 6y ago
I didn't downvote but I talked to my mechanic, a Sunni Muslim from Iraq via Dubai, about this very topic last year. He said they all charge fees unless you're from an important family and know a money lender. It's kind of a scam because they're more or less just like every other bank.

omginternets 6y ago

That’s a stretch. Carefully-controlled deletion with plausible deniability is a good thing. Uncontrolled data loss is most assuredly not.