"he made no case for how HSBC money laundering.." Banks make money on transactions regardless of whether they are fraudulent, criminal, or not. I think the arg

"he made no case for how HSBC money laundering.." Banks make money on transactions regardless of whether they are fraudulent, criminal, or not. I think the argument is that as long as banks profit from illegal activity (identity theft) they have no incentive to take steps to reduce that profit. They lose money if the security is too strong or too weak. Apparently the security we get is just right (for the banks).