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Pretty dubious about those in this thread running the "Oh, goodness those poor banks having to enforce these laws ... how does anyone expect them to do that ?".
by glaucon 6y ago
Pretty dubious about those in this thread running the "Oh, goodness those poor banks having to enforce these laws ... how does anyone expect them to do that ?". A fundamental skill of banks is assessing risk and reacting to it, I would have thought reacting to money laundering falls within that.
The part of this story (scroll to "What was the Ponzi scheme") https://www.bbc.com/news/uk-54225572 https://www.bbc.com/news/uk-54225572 that mentions a scam targetting US citizens which HSBC "sort of noticed" but didn't do anything about until it was too late is suggestive of priorities.
And yes, jail time, nothing else matters a dam.
- dogma1138 6y agoAgain the issue here is that the SAR’s were disclosed to the regulators if the regulator isn’t following up on them it’s not clear where the fault lies. If HSBC wasn’t following the guidelines and covering this up yes jail them all, but this seems to have been a major regulatory failure.
- Craighead 6y agoIts like you read the op making fun of the HN posters in this thread for defending the poor banks and tried to outdo all the other posts.