Skip to main content

HSBC Won’t Be Laundering Money By 2018

  • Author:
  • Updated:
    Original:

Money-laundering operations of the size and scale previously boasted by HSBC are not dismantled in a day. Or 730 days. But within 1,826 days? They definitely won’t be the banker of choice for drug cartels or rogue states anymore. So just cool your heels, Michael Cherkasky.

“It’s hard to imagine that we would have a monitorship where, after two years, they’re not saying, ‘You have more work to do,’ ” said Stuart Levey, chief legal officer at the bank, though he declined to discuss details of the monitoring. He added that the bank is “on track” to meet the terms of the five-year monitorship and deferred-prosecution agreement and is making “excellent progress” with its anti-money-laundering efforts.

HSBC Struggles in Battle Against Money Laundering [WSJ]

Related

HSBC Money Laundering: Now Less Criminal!

Just a fine! No prosecutions! Wahoo (if you're HSBC)!

Rep. Blaine Luetkemeyer opening his early Valentine's Day cards from bank lobbyists. (Rep. Blaine Luetkemeyer)

Banks Ask Congress To In-Source Money Laundering So They Don’t Have To

First on the G.O.P.’s banking agenda in 2018: Making sure banks don’t have to spend their tax savings figuring out who the bad guys are.

Really only one reason to have a branch in Tallinn. By Pjotr Mahhonin [CC BY-SA 4.0 ], from Wikimedia Commons

Danske Bank Shows That Money Laundering Can Get Even More Amateur Hour Than At Deutsche Bank

I mean, how hard is it just to call Vladimir Putin and say, “Am I allowed to help this guy?”

Appropriate money-laundering site. Saif Gill [CC BY 3.0], via Wikimedia Commons

If Pakistan’s Largest Bank Wants To Launder Money, It’ll Have To Do So In The Bahamas Or Delaware

New York will not help finance terrorist attacks against itself for more than a couple of years without doing something about it.