HSBC Alleged To Have Engaged in Massive Anti-Money Laundering Violations

Reuters released a Special Report detailing global bank HSBC’s anti-money laundering activities. (...) The company, according to Reuters, did not adequately review billions of dollars in client transactions to determine if the customers were using the bank’s services to engage or facilitate drug trafficking, terrorist financing and other criminal activities. More on the Compliance Exchange. HSBC is a Global Compact participant since 2000/11/27. HSBC (LSE:HSBA) was a Gold Contributor to the Foundation for the Global Compact in 2011.