HSBC an ‘isolated’ case in Mexico -banks’ association

Reuters, 7/27/2012

The money-laundering scandal that hit HSBC Holdings Plc in Mexico was an isolated case in Latin America’s second-biggest economy, the head of the country’s banks association (ABM) was quoted as saying on Friday.

Mexico’s National Banking and Securities Commission (CNBV) levied a $27.5 million fine against the British bank after a scathing U.S. Senate report last week slammed HSBC for letting clients shift funds from dangerous and secretive countries.

Read more…


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s