Quote:
Originally Posted by NEW XTC
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Sperbonzo's right, nothing to see, everything is fine.
http://www.reuters.com/article/2014/...A0G1KQ20140117
(Reuters) - U.S. regulators continue to find weaknesses in the way HSBC Holdings tries to prevent money laundering, according to people familiar with the matter, even after the British bank was forced to pay nearly $2 billion in penalties and invested millions in increasing its compliance.
In December 2012, the bank paid to U.S. authorities what was then a record amount to resolve charges that it failed to stop hundreds of millions of dollars in drug money from flowing through the bank from Mexico, and promised at the time to fix the problems.
When announcing the settlement, HSBC Chief Executive Stuart Gulliver said: "The HSBC of today is a fundamentally different organization from the one that made those mistakes."
And I thought the HK branch was problematic...lol