4 ms·
HSBC got fined $84M for laundering mexican drug cartel money. The proportions don't add up. https://www.complianceweek.com/regulatory-enforcement/hsbc-hit-with
by dna_polymerase 5y ago
HSBC got fined $84M for laundering mexican drug cartel money. The proportions don't add up.
https://www.complianceweek.com/regulatory-enforcement/hsbc-hit-with-84m-penalty-over-aml-failings/31184.article https://www.complianceweek.com/regulatory-enforcement/hsbc-h...
- mint2 5y agoYeah hsbc should have been fined more.
- consumer451 5y agoShouldn't the director(s) be held responsible at all? It seems like if people escape consequences this behavior will continue.
- missedthecue 5y agoOnly if you can prove they committed a crime. HSBC has more than 230,000 employees. Statistically, someone will always be doing something wrong.
- missedthecue 5y agoThey paid $84M to the European regulator. The US regulator made them pay $1.9 Billion. https://www.reuters.com/article/us-hsbc-probe/hsbc-to-pay-1-9-billion-u-s-fine-in-money-laundering-case-idUSBRE8BA05M20121211 https://www.reuters.com/article/us-hsbc-probe/hsbc-to-pay-1-...