U.s. Report Says Hsbc Handled Iran, Drug Money


WASHINGTON (Reuters) - A "pervasively polluted" culture at HSBC Holdings Plc allowed the bank to act as financier to clients seeking to route shadowy funds from the world's most dangerous and secretive corners, including Mexico, Iran, the Cayman Islands, Saudi Arabia and Syria, according to a scathing U.S. Senate report issued on Monday.

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  • UPDATE 5-U.S. report says HSBC handled Iran, drug money
    * Report cites problems at bank and its U.S. regulator * Bank compliance staff overwhelmed - report * Senator Levin says HSBC culture was "polluted" By Carrick Mollenkamp WASHINGTON, July 16 A "pervasively polluted" culture at HSBC Holdings Plc allowed the ...
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