http://dealbook.nytimes.com/2012/07/16/scathing-report-details-money-laundering-problems-at-hsbc/?hp
Click the link above to read the rest... by they way aren't you glad HSBC involved in zone busting illegal builds NYC and Deutsche Bank corrupt bank leads in a new trend to have private military that refuse to identify themselves -- no name tags etc. USA gives corrupt banks amazing power to abuse in countless ways.....
"The global bank HSBC has been used by Mexican drug cartels looking to get cash back into the United States, by Saudi Arabian banks that needed access to dollars despite their terrorist ties and by Iranians who wanted to circumvent United States sanctions, a Senate report says.
The 335-page report released Monday also says that executives at HSBC and regulators at the Office of the Comptroller of the Currency ignored warning signs and failed to stop the illegal behavior at many points between 2001 and 2010.
In one case, an HSBC executive successfully argued that the bank should resume business with a Saudi Arabian bank, Al Rajhi Bank, despite the fact that Al Rajhi’s founder had been an early benefactor of Al Qaeda. HSBC’s American branch ended up supplying a billion dollars to the bank."
DB has so many corrupt scandals and abuses can't keep up but here is the latest....aren't you glad a bank with trillions in assets gets US federal bail-out money 9-11?
