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Hell, that's nothing. Here's something truly criminal: http://www.rollingstone.com/politics/blogs/taibblog/outrageous-hsbc-settlement-proves-the-drug-war-is-a-j

Hell, that's nothing. Here's something truly criminal: http://www.rollingstone.com/politics/blogs/taibblog/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213 http://www.rollingstone.com/politics/blogs/taibblog/outrageo...

girvo 13y ago
I remember reading about that earlier this year. Not surprised by the outcome.
retube 13y ago
There is no evidence anyone at HSBC was willfully assisting or complicit in money laundering. The fines are for weak controls that failed to detect money laundering.
- shiven 13y ago
  Oh please! The fines are for disabling the controls that would have automatically flagged money laundering transactions. Source: the link OP posted. Still, it is a mere slap on the wrist that is guaranteed to have no permanent repercussions to deter such behavior. It's a clusterfuck and I don't see a solution emerging without both the war on drugs ending and multi-year incarceration becoming mandatory for financial crimes.
  - retube 13y ago
    Oh Please! Matt Taibbi is in no way a credible source. > Disabling Or alternatively, just not enabling tougher controls. There's no evidence, or indeed suggestion by prosecutors, that controls were deliberately set low to deliberatly faciliate money laundering.
    - skinnycow 13y ago
      How fucking far is your head up your ass? Oh, you're a pro-censorship christian nut. Great. What is with you and wanting to defend government intrusions at all cost. Censorship good. HSBC and government ripping off people good. Secret TPP partnership good. What a load of mental gymnastics.
    - deleted 13y ago
      [deleted]
- toddrew 13y ago
  Accepting regular daily cash deposits of hundreds of thousands of dollars at HSBC branches in Mexico without question shows assistance and complicity. The only people making cash deposits of this size, in Mexico especially, are drug cartels. The HSBC employees at the branch knew what this money was.
aestra 13y ago
This is completely and totally off topic.

girvo 13y ago

I remember reading about that earlier this year. Not surprised by the outcome.

retube 13y ago

There is no evidence anyone at HSBC was willfully assisting or complicit in money laundering. The fines are for weak controls that failed to detect money laundering.

shiven 13y ago
Oh please! The fines are for disabling the controls that would have automatically flagged money laundering transactions. Source: the link OP posted. Still, it is a mere slap on the wrist that is guaranteed to have no permanent repercussions to deter such behavior. It's a clusterfuck and I don't see a solution emerging without both the war on drugs ending and multi-year incarceration becoming mandatory for financial crimes.
- retube 13y ago
  Oh Please! Matt Taibbi is in no way a credible source. > Disabling Or alternatively, just not enabling tougher controls. There's no evidence, or indeed suggestion by prosecutors, that controls were deliberately set low to deliberatly faciliate money laundering.
  - skinnycow 13y ago
    How fucking far is your head up your ass? Oh, you're a pro-censorship christian nut. Great. What is with you and wanting to defend government intrusions at all cost. Censorship good. HSBC and government ripping off people good. Secret TPP partnership good. What a load of mental gymnastics.
  - deleted 13y ago
    [deleted]
toddrew 13y ago
Accepting regular daily cash deposits of hundreds of thousands of dollars at HSBC branches in Mexico without question shows assistance and complicity. The only people making cash deposits of this size, in Mexico especially, are drug cartels. The HSBC employees at the branch knew what this money was.

aestra 13y ago

This is completely and totally off topic.