HSBC fears U.S. money laundering fines to top $1.5 billion

Comments (20)
boonteetan wrote:

HSBC must have been too big and too strong not to make profit. Are under-counter covert activities still going on? (mtd1943)

Nov 04, 2012 8:58pm EST  --  Report as abuse
MrRFox wrote:

“… lax anti-money laundering controls …”

Is that the new euphemism for knowing becoming a party to an ongoing illegal drug running operation (and associated homicides and other felonies) centered in Mexico, and providing illegal money-laundering services to the cartel?

Anyone but a big bank who did what HSBC appears to have done would be in a cell awaiting trial on murder charges and other serious offenses. Who says size (a/k/a ‘juice’) doesn’t matter?

Nov 05, 2012 4:24am EST  --  Report as abuse

Gosh and everyone wonders why business does not come to the USA. They were lax in their procedures that would control money laundering. If I am hearing this correctly. They did nothing wrong except have lax policies.

WOW. Our country is horrible. Not to worry. The overbloated government regulations are going down. We cannot afford four more.

Nov 05, 2012 4:40am EST  --  Report as abuse

Gosh and everyone wonders why business does not come to the USA. They were lax in their procedures that would control money laundering. If I am hearing this correctly. They did nothing wrong except have lax policies.

WOW. Our country is horrible. Not to worry. The overbloated government regulations are going down. We cannot afford four more.

Nov 05, 2012 4:40am EST  --  Report as abuse

Gosh and everyone wonders why business does not come to the USA. They were lax in their procedures that would control money laundering. If I am hearing this correctly. They did nothing wrong except have lax policies.

WOW. Our country is horrible. Not to worry. The overbloated government regulations are going down. We cannot afford four more.

Nov 05, 2012 4:40am EST  --  Report as abuse
DougAnderson wrote:

@policialjules. Are you trolling or just plain stupid? Enron did nothing wrong too right? They just had ‘lax accouting policies.’

Hate the country? Get out. We really don’t need people like you here.;

Nov 05, 2012 7:31am EST  --  Report as abuse
ChangeWhat wrote:

Isn’t this one of the crimes the US came down on the mafia for? HSBC assets should be frozen immediately just like they do to the Don’s, and all suspects should be in a jail cell awaiting questioning from detectives right now. Not in this day and age though, its ok if your a big baller to do what you want as you long as you pay your fines, fines that will be paid with other peoples money by the way. To the little kids with an internet connection that read this, “change your studies to political science” become a politician. This way you can rob, cheat, murder, steal, launder, basically do anything you want even if your not “rich” yet, but trust me under the table payments will come into your hands its the American way. I would rather borrow from the mafia then the banks, at least I know what my interest rate is and never changes, I don’t have to pay hidden fees, overdrawn fees, and as long as I pay I will be fine.

Nov 05, 2012 10:21am EST  --  Report as abuse
Mott wrote:

DougAnderson – second that.

Nov 05, 2012 10:33am EST  --  Report as abuse
racont wrote:

Why isn’t this guy being arrested for money laundering. He’s the CEO for crying out. He’s responsible for everything the bank does, that’s why he get’s paid so much. How can he not be jailed?!?!

Nov 05, 2012 10:35am EST  --  Report as abuse
Harry079 wrote:

Every top exec at Countrywide should have been arrested and jailed but that isn’t the way things work. The people that run the banks and the government are one in the same.

The Federal Reserve and Treasury are all run by ex bankers with strong ties to their friends in the industry. You go from working for the bank to working for the government and the you go into lobbying or consulting after that.

These people never retire they keep infecting the system with corruption and criminal activity from with they themselves are immune from prosecution.

Just look at John Corzine and others who willfully stold billions, wrecked thousands of lives and walk around like nothing happened.

Nov 05, 2012 11:09am EST  --  Report as abuse
Mott wrote:

Harry079 – Agree.

Documentary/movie on – Inside Job, presents the big picture of how this corrupt system works.

It is sad to see this proliferate to the ivy-league schools (Harvard, Stanford and the likes) that the next generation looks up to.

With analytics, accounting for the electronic data trail of missteps it has become ever easier in the current times for the public and justice teams at all levels to hold these selfish-groups accountable and put them away where they belong thus, representing the self-correction that’s a great virtue of this nation, to prevail.

Nov 05, 2012 11:44am EST  --  Report as abuse
reality-again wrote:

Helping various criminals including tyrants and rogue regimes achieve their business and personal goals, is a serious crime with extreme consequences to the victims, and as such, it should be severely punished.

The bank executives responsible for such crimes should be sent to spend time with their clients, in prison.

Nov 05, 2012 12:25pm EST  --  Report as abuse
breezinthru wrote:

I wonder how much money was made laundering money for the past 10 years or longer. I’m guessing that HSBC doesn’t fear a 1.5 billion USD nearly as much as it fears the prison sentences that could come with criminal charges.

In fact, that statement is not quite right. it is my position that corporations are not people, contrary to the US Supreme Court’s misguided notion. HSBC fears nothing… but there could be a few people who draw their wealth from HSBC who are actually experiencing some fear.

Nov 05, 2012 1:06pm EST  --  Report as abuse
neahkahnie wrote:

You do the crime. You pay the fine. No wonder the drug lords have so much money. Like any criminal organization, they have the banks to help them. Same old, same old.

Nov 05, 2012 1:48pm EST  --  Report as abuse

And these leaders of business want to run our country and will create jobs for us?? Maybe it is time for the world to end cause it just can’t get much worse.

Nov 05, 2012 5:17pm EST  --  Report as abuse
RichardNYC wrote:

Cry me a river!

Nov 05, 2012 6:11pm EST  --  Report as abuse

Can you cry RichardNYC?? Or are you a sociopath like most men of big business.

Nov 05, 2012 6:22pm EST  --  Report as abuse

Can you cry RichardNYC?? Or are you a sociopath like most men of big business.

Nov 05, 2012 6:22pm EST  --  Report as abuse
Renox wrote:

In civilized countries money laundering would be jail for the big bosses.
Not much difference between Nigeria or the US. Except for the scale of corruption.

Nov 05, 2012 6:37pm EST  --  Report as abuse
Harry079 wrote:

HBSC doesn’t appear to be having a very good year.

Awwww too bad for them.

Nov 07, 2012 2:41pm EST  --  Report as abuse
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