Senate Investigation Finds HSBC Allowed Cartels To Launder Drug Money | Talking Points Memo

A U.S. Senate investigation claims that HSBC, Europe’s largest bank, spent seven years allowing Mexican drug cartels to exploit lax regulatory checks and utilize the bank to launder drug-related money. The report, posted by the Senate Permanent Subcommittee on Investigations, also indicted US regulators for failing to encourage HSBC to eliminate existing loopholes.


This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=158192