HSBC Said to Have Laundered Mexican Drug Cash [video]

The Washington Post/The Associated Press, 07/17/2012

An investigation has found that lax controls at HSBC allowed Mexican drug cartels to launder billions of dollars through its U.S. operation and other illicit transactions.

HSBC Holdings PLC (HSBA) executives apologized for opening their U.S. affiliate to a river of Mexican drug lords’ cash, and the U.S. regulator that failed to stem the flow vowed to prevent a repeat.

To watch video click here.

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