We recently heard from @EverettStern1 regards Bank of America fine and his whistle blowing and the 1.9B fine issued to HSBC On 12th December 2012 But did you know this ⬇️⬇️⬇️⬇️😡 Dec 11th 2017 the US DOJ announced its plans to DISMISS ALL criminal charges against HSBC 😡 HSBC Admission: “Criminal information and acceptance of responsibility” HSBC Bank USA and HSBC Holdings hereby AGREE and stipulate that the following information is TRUE and ACCURATE . HSBC Bank USA and HSBC Holdings accept and acknowledge that they are responsible for the acts of their respective officers, directors, employees, and agents as set forth below. If this matter were to proceed to trial, the Department would prove beyond a reasonable doubt, by admissible evidence, the facts alleged below and set forth in the criminal Information attached to this Agreement. These were the charges… 😡 Department of Justice Charges 7. The Department alleges, and HSBC Bank USA admits, that HSBC Bank USA’s conduct, as described herein, violated the BSA. Specifically, HSBC Bank USA violated Title 31, United States Code, Section 5318(h)(1), which makes it a crime to willfully fail to establish and maintain an effective AML program, and Title 31, United States Code, Section 5318(i)(1), which makes it a crime to willfully fail to establish due diligence for foreign correspondent accounts. Conduct in Violation of the BSA 8. From 2003 to 2006, HSBC Bank USA operated under a written agreement issued by its regulators. A written agreement is a formal supervisory action that requires a financial institution to correct operational deficiencies. The written agreement in this instance required HSBC Bank USA to enhance its AML compliance with the BSA, and specifically required HSBC Bank USA to enhance its customer due diligence or “know your customer” (“KYC”) profiles and the monitoring of funds transfers for suspicious or unusual activity. 9. From 2006 to 2010, HSBC Bank USA violated the BSA and its implementing regulations. Specifically, HSBC Bank USA ignored the money laundering risks associated with doing business with certain Mexican customers and failed to implement a BSA/AML program that was adequate to monitor suspicious transactions from Mexico. At the same time, Grupo Financiero HSBC, S.A. de C.V. (“HSBC Mexico”), one of HSBC Bank USA’s largest Mexican customers, had its own significant AML problems. As a result of these concurrent AML failures, at least $881 million in drug trafficking proceeds, including proceeds of drug trafficking by the Sinaloa Cartel in Mexico and the Norte del Valle Cartel in Colombia, were laundered through HSBC Bank USA without being detected. HSBC Group was aware of the significant AML compliance problems at HSBC Mexico, yet did not inform HSBC Bank USA of these problems and their potential impact on HSBC Bank USA’s AML program. 10. There were at least four significant failures in HSBC Bank USA’s AML program that allowed the laundering of drug trafficking proceeds through HSBC Bank USA: Source: justice.gov/sites/default/… Case 1:12-cr-00763-ILG Document 3-3 Filed 12/11/12 Page 4 of 30 PageID #: 57 a. Failure to obtain or maintain due diligence or KYC information on HSBC Group Affiliates, including HSBC Mexico; b. Failure to adequately monitor over $200 trillion in wire transfers between 2006 and 2009 from customers located in countries that HSBC Bank USA classified as “standard” or “medium” risk, including over $670 billion in wire transfers from HSBC Mexico; c. Failure to adequately monitor billions of dollars in purchases of physical U.S. dollars (“banknotes”) between July 2006 and July 2009 from HSBC Group Affiliates, including over $9.4 billion from HSBC Mexico; and d. Failure to provide adequate staffing and other resources to maintain an effective AML program.

Did they just move operations to the uk or was it not just in America? reuters.com/business/hsbc-fi… youtu.be/57RuNABkJKg?is=BcZV…