86 min • Business & Technology, Crime • 2017
HSBC has created a unique network to move dirty money around the world. From tax evasion to money laundering for the mafia, “this bank has done everything bad that a bank can possibly do."
In 2012, HSBC nearly lost its license to operate in the US for laundering the money of the Mexican and Columbian drug cartels. Criminal charges were filed and HSBC’s executives hauled before a Senate committee. In the end, HSBC was let off with a fine of 2 billion euros. The equivalent of one month’s profits. Protected by London, blessed by Beijing, who would dare attack it?