HSBC Accused of Laundering Money for Mexico Drug Cartels

The U.S. Justice Departments is reportedly working on a case against HSBC bankers they say have laundered money from Mexican drug gangs. Still at the beginning of the investigation, the Justice Department is building its case against the bank. The investigation began in August of 2010, when the Office of the Comptroller of the Currency criticized the bank for “highly suspicious activity.” Some believe that if the bank is found to have laundered dirty money, HSBC could pay a record $500 million fine, as the Justice Department may look to make an example of the bank. More…

News selected by Covalence | Country: Mexico | Company: HSBC | Source: Hispanically Speaking  News