HSBC agrees $1.9bn US penalties

Jimbuna · 12-11-12, 08:59 AM

The heaviest penalty imposed yet but will it act as a deterrent to others in the future?

Quote:

HSBC has confirmed it is to pay US authorities $1.9bn (£1.2bn) in a settlement over money laundering, the largest paid in such a case.
A US Senate investigation said the UK-based bank had been a conduit for "drug kingpins and rogue nations".
Money laundering is the process of disguising the proceeds of crime so that the money cannot be linked to the wrongdoing.
HSBC admitted having poor money laundering controls and apologised.

http://www.bbc.co.uk/news/business-20673466

STEED · 12-11-12, 11:16 AM

It will not stop these greedy pigs from breaking all the rules, after all they are changing all the rules.

Forget bloody Starbucks who have not broken the rules the bloody banks are still breaking the rules, only over the weekend I was reading that banks were still miss selling this and that to the public!

PONZI IS THE NAME OF THE GAME THEY WIN WE LOOSE!

Bigger the bank more corrupt they are.

eddie · 12-11-12, 03:06 PM

When it comes to banks, rules are made to be broken.

BossMark · 12-11-12, 03:16 PM

Bloody bankers wouldn't piss on them if they was on fire

Armistead · 12-11-12, 03:17 PM

Any of us do that, we would be in jail.....

Corps can do something illegal, make a few billion, get caught, pay a fine and keep on going...

Jimbuna · 12-11-12, 06:11 PM

Money will always look after money...simple as.

12-12-12, 05:45 AM

Unbelievable, massive criminal activity going on for decades and they decide to let it go as if they prosecute the bank will not be able to get a licence anymore as it would be labelled as a criminal, which it is.

So they pay 4 up weeks profits and get decades of criminal activity forgotten about.
Bloody hell even their bribery is criminal, how do they get away with such a cheap bribe over such a huge crime?

12-11-12, 11:16 AM	#2
STEED Lucky Jack Join Date: Jan 2006 Location: Down Town UK Posts: 27,695 Downloads: 89 Uploads: 48	It will not stop these greedy pigs from breaking all the rules, after all they are changing all the rules. Forget bloody Starbucks who have not broken the rules the bloody banks are still breaking the rules, only over the weekend I was reading that banks were still miss selling this and that to the public! PONZI IS THE NAME OF THE GAME THEY WIN WE LOOSE! Bigger the bank more corrupt they are. __________________ Dr Who rest in peace 1963-2017. To borrow Davros saying...I NAME YOU CHIBNALL THE DESTROYER OF DR WHO YOU KILLED IT!

12-11-12, 03:06 PM	#3
eddie Ocean Warrior Join Date: Jan 2005 Location: Minnesota Posts: 3,023 Downloads: 99 Uploads: 0	When it comes to banks, rules are made to be broken. __________________ Don't mistake my kindness for weakness. I'm kind to everyone, but when someone is unkind to me, weak is not what you are going to remember about me. Al Capone

12-11-12, 03:16 PM	#4
BossMark Fleet Admiral Join Date: May 2011 Location: Leeds, West Yorkshire Posts: 15,272 Downloads: 278 Uploads: 0	Bloody bankers wouldn't piss on them if they was on fire __________________ Never trust the Tories look what Thatcher and Major did in the 80s and 90s and look what the wicked witch May is doing now doing now

12-11-12, 06:11 PM	#6
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,539 Downloads: 63 Uploads: 13	Money will always look after money...simple as. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

12-11-12, 03:17 PM	#5
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	Any of us do that, we would be in jail..... Corps can do something illegal, make a few billion, get caught, pay a fine and keep on going...

12-12-12, 05:45 AM	#7
Tribesman Stowaway Posts: n/a Downloads: Uploads:	Unbelievable, massive criminal activity going on for decades and they decide to let it go as if they prosecute the bank will not be able to get a licence anymore as it would be labelled as a criminal, which it is. So they pay 4 up weeks profits and get decades of criminal activity forgotten about. Bloody hell even their bribery is criminal, how do they get away with such a cheap bribe over such a huge crime?