Comment on HSBC to apologize at U.S. Senate money laundering hearing: memo

HSBC to apologize at U.S. Senate money laundering hearing: memo

HONG KONG (Reuters) - HSBC plans to "acknowledge and apologize" for failing to spot and deal with money laundering within the bank during a U.S. Senate panel hearing next week, according to an internal memo sent by its chief executive.

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    PanARMENIAN.Net - A U.S. Senate probe has disclosed how lax controls at Europe's largest bank left it vulnerable to being used to launder dirty money from around ... offer a formal apology at the hearing. "We will apologize, acknowledge these mistakes ...
    07/17/2012 - 8:03 am | View Link
  • HSBC allowed money laundering, Senate says
    Reuters The committee plans to hold a hearing ... U.S. travelers checks for a Japanese bank, benefiting Russians who claimed to be in the used-car business,” and offering accounts to bearer-share corporations, “despite the high risk of money laundering ...
    07/16/2012 - 7:32 pm | View Link
  • Senate Report Blasts HSBC Over Money Laundering
    Law360, New York (July 16, 2012, 7:13 PM ET) -- A blistering U.S. Senate report ... abet that illicit money," the senator said. In a statement, HSBC said that it planned to apologize for its anti-money laundering lapses at Tuesday's hearing.
    07/16/2012 - 1:13 pm | View Link
  • HSBC Faces $1 Billion 'Money Laundering' Fine
    According to an internal memo, HSBC revealed that it will acknowledge and apologize to a U.S. Senate hearing next week for failing to spot money laundering that could have been used to finance terrorism and organized crime. The latest banking scandal ...
    07/12/2012 - 7:30 am | View Link
  • HSBC to Apologize at Senate Hearing
    HSBC Holdings PLC will apologize at a U.S. Senate hearing for its lax efforts to prevent money laundering, the London-based lender's chief executive said in a company memo. "Between 2004 and 2010, our antimoney-laundering controls should have been stronger ...
    07/11/2012 - 12:25 pm | View Link
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  • U.S. News | National News
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  • HSBC Exposed U.S. Financial System to Money Laundering ...
    Monday, July 16, 2012. WASHINGTON – Global banking giant HSBC and its U.S. affiliate exposed the U.S. financial system to a wide array of money laundering, drug ...
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  • Home | U.S. Senator David Vitter of Louisiana
    Official website of the U.S. Senator for Louisiana, Republican party.
    02/28/2015 - 4:43 am | View Website
  • U.S. Vulnerabilities to Money Laundering, Drugs, and ...
    Download Statement (33.7 KB) Agenda. The Permanent Subcommittee on Investigations held a hearing, "U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist ...
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  • HSBC
    HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is the world's second largest bank.
    02/25/2015 - 3:28 am | View Website
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