AFP – Sat, Aug 25, 2012
US prosecutors are looking into whether British bank HSBC was involved in laundering money for Mexican drug cartels and moving cash for Saudi Arabian banks with ties to terrorists, The New York Times reported Saturday.
Citing unnamed federal authorities with direct knowledge of the investigations, the newspaper said the investigators were also probing whether HSBC circumvented US law by transferring money through its American subsidiary for sanctioned nations, including Iran, Sudan and North Korea.
Last month, HSBC announced that its Mexico unit had paid a fine totalling 379 million Mexican pesos ($27.5 million) to Mexico's banking regulators for breaching anti-money laundering controls.
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Comments
Drain the Banks!
Take your money out and move it to a Credit Union, or to your mattress if that seems safer.
The cesspool called banking is revealing its true colors. Really? Another story above about banking fraud and money laundering?
How much more information do we need? Libor? Money Laundering? Corruption? Lies? Political ties? Market Manipulations?
Iceland kicked their bankers out - erased debt - and then prosecuted those banksters who stayed behind.
Good Idea? You bet!!! There's plenty of room in the Fema Camps for these guys.
We are the 99%! Move your money to a Credit Union and help Drain the CessPool called banking.
Stick a fork in it folks - banking is done!!!