Tag Archive for money-laundering

European Bank HSBC

The lack of control in the main Bank of Europe, HSBC, and the inaction of the regulators allowed that Mexican drug cartels wash their billions of money through its United States operations, said a Senate investigation that has next Tuesday a hearing on the subject. The extensive report about HSBC Holdings PLC headquartered in London was disclosed on Monday by the Senate Permanent investigations Subcommittee, on the eve of the hearing. This indicates that American regulators knew that the Bank had a lax system for detecting problems but refrained from taking action. Also, some branches of HSBC Bank evaded bans by the American Government against financial transactions with Iran and other countries, the report adds. And the American division of HSBC provided money and banking services to some banks in Saudi Arabia and Bangladesh which is believed may have helped finance al – Qaida and other terrorist groups. USA money market is a practical guide of high interest to professionals on topics related to the economy, consumption and general information on the States’s highest concentration of Hispanics in the United States, with special emphasis on Florida. The full story is found in