Monday, July 16, 2012

Monday, July 16, 2012 6:41:04 PM

Senate panel: HSBC's lax controls allowed US operations to be used for laundering money

A Senate investigation has found that global banking giant HSBC was for years a haven for foreign money laundering, drug trafficking money and potential terrorist financing activities, largely because of the bank's woefully inadequate monitoring practices, according to a Senate report scheduled for release Tuesday.

Read more at:
http://www.washingtonpost.com/politics/courts_law/senate-panel-hsbcs-lax-controls-allowed-us-operations-to-be-used-for-laundering-money/2012/07/16/gJQAbDSNpW_story.html

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