June 9th, 2014
December 14th, 2012
This is part 2 of a series of excerpts from the Statement of Facts, which constitutes Attachment A to the Deferred Prosecution Agreement entered into between U.S. regulators and the HSBC banks, and let you decide for yourself. These are excerpts detailing events that HSBC has explicitly admitted to.
May 19th, 2011
If I told you that while the United States is engaged in a costly war against illegal drugs and the vicious cartels that traffic them, U.S. banks are willfully flouting U.S. and Mexican laws and helping
these cartels launder their money
, would you believe me?
For decades the U.S. has served as a safe haven for the ill-gotten finances of corrupt foreign leaders and their ilk. Former foreign government ministers, military leaders, and corrupt heads of state have mansions, businesses, and bank accounts here. The banks who facilitate much of these activities are required by law to conduct...
April 4th, 2011
This wasn’t meant to happen in the last decade.
Money laundering regulation was meant to have stopped the handling of drug cash in the USA.
The Patriot Act was meant to have closed down such things.
The FATF 49 recommendations were meant to have been in place.
But as the Observer reported yesterday,
US bank Wachovia, now part of Wells Fargo, money laundered hundreds of billions for Mexican drug gangs in the USA. And, when the activity was questioned internally from London, the money laundering officer who did so was driven out.