HSBCs Money Laundering Lapses in Miami

HSBCs Money Laundering Lapses in Miami

Posted in the Miami Forum

Lure of easy money

Hollywood, FL

#1 Jan 2, 2013
"HSBC’s Money Laundering Lapses, By the Numbers"

This week a Senate investigation detailed that HSBC had lax controls against money-laundering and often ignored warnings about clients with ties to drug cartels and terrorists.

1,670: number of those accounts in the bank’s Miami branch, holding $2.6 billion in assets. One such account was linked to a Miami real estate family convicted of tax fraud for hiding nearly $200 million through bearer-share accounts.

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