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HSBC (HBC) may pay a $1.8B fine to settle with the U.S. as part of a money laundering suit...

HSBC (HBC) may pay a $1.8B fine to settle with the U.S. as part of a money laundering suit alleging the bank allowed clients to move illicit funds from Mexico and Iran among other countries. The potential settlement, which has been in the works for months, could be settled as early as next week. The case could serve as a litmus test for just how far U.S. prosecutors will go to try and halt illicit flows of money moving through U.S. banks.
Comments (8)
  • Add this to the list !!!
    Hows this folks!!!


    WASHINGTON (Reuters) - U.S. securities regulators on Wednesday charged a Wells Fargo investment banker and nine others for their alleged role in an insider-trading ring that earned more than $11 million by trading on tips about impending mergers.


    The Securities and Exchange Commission said that John Femenia, 30, misused his position at a unit of Wells Fargo to obtain material, non-public information about four different mergers involving firm clients."
    5 Dec 2012, 10:25 PM Reply Like
  • Another in a long line of stories about the Banksters. Why would anyone want to own these stocks. Where are the shareholders on these issues? What about the Boards re: governance. And finally, who gets the benefit of the $1.8 billion fine?
    5 Dec 2012, 10:53 PM Reply Like
  • And jail time for who?
    6 Dec 2012, 05:56 AM Reply Like
  • Are you joking? What does USA prime itself to be? Do you really think that only US banks are allowed to operate?
    6 Dec 2012, 08:21 AM Reply Like
  • And more on the criminality of the Banksters:


    "HONG KONG/LONDON (Reuters) - Standard Chartered expects to pay $330 million to settle a case with U.S. regulators for breaking sanctions on Iran, the Asian-focused bank said on Thursday, a second such penalty which could almost wipe out its profit growth this year. Standard Chartered already paid $340 million to New York's Department of Financial Services ( in the third quarter, and the London-based bank said the settlement with federal and other state regulators was expected "very shortly"."


    Why no prosecutions?
    6 Dec 2012, 08:27 AM Reply Like
  • USA's black list is much longer than the other regulators. If the transactions are performed outside USA, there is a grey area. The USA regulator is able to make a case because the fund is cleared in USD in the US. Does USA still want the business?
    6 Dec 2012, 08:50 AM Reply Like
  • Useless US regulator.
    8 Dec 2012, 11:18 AM Reply Like
  • Why don't they ask for USD14Trillion? Then they can pay off the government debt!
    8 Dec 2012, 11:19 AM Reply Like
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