British government helped criminal HSBC bank

This video from the USA says about itself:

HSBC allowed money laundering, says US Senate

17 July 2012

HSBC Bank has been allowing money laundering to happen right under its nose, according to a scathing report by the US Senate. Money suspected to come from drugs and terrorism deals.

Apparently HSBC Holdings plc has allowed the bank to act as a conduit for monies resulting from these shady underworld dealings from places like Mexico, Iran, the Cayman Islands, Saudi Arabia and even Syria!

Senator Carl Levin, chairman of the U.S. Senate Permanent Subcommittee on Investigations said “The culture at HSBC was pervasively polluted for a long time.” The report also concluded that top US bank regulator the Comptroller of the Currency, had failed to monitor HSBC properly.

As we all know, banks around the world are on the ropes right now and so this news is likely to get under the noses of anyone who’s had enough of any of their ‘anti-customer, pro-profit’ antics. …

Written and Presented by Marverine Cole.

From daily The Morning Star in Britain:

Osborne intervened in HSBC probe

Wednesday 13th July 2016

CHANCELLOR George Osborne sought to influence an official criminal investigation into money-laundering allegations against HSBC bank, a US report claimed yesterday.

The report, dubbed “Too big to jail,” names Mr Osborne as having intervened in the US investigation by sending a letter in September 2012 to the chairman of the Federal Reserve — the US’s cantral bank.

It also accuses Britain’s Financial Services Authority of having “hampered” the probe.

HSBC was not prosecuted over the allegations in the US because officials were concerned it would cause a global financial disaster. The bank was instead fined £1.2 billion by US authorities.

Shadow chancellor John McDonnell said: “It is not acceptable for any institution to place itself above the law, however financially important.

“It is hard to envisage circumstances where the Chancellor of the Exchequer should be using his office to interfere in a criminal investigation.”

See also here.

HSBC money launderers protected by Osborne and top US officials: here.

UK BANKS HSBC and Standard Chartered have been linked to a serious corruption scandal in South Africa, with the Serious Fraud Office looking to investigate how deeply they are involved: here.

The shadow hand of HSBC: from drug lords to the House of Lords. Cartel drug money, pernicious Saudi financial bodies, tax evasion and the Opium Wars. MILES ELLINGHAM outlines the moral apathy of Europe’s biggest bank, and the Conservative government’s failure to reprimand: here.

21 thoughts on “British government helped criminal HSBC bank

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  6. Wednesday 25th January 2017

    posted by Morning Star in Britain

    WORKERS at HSBC faced a “dark day” yesterday after the bank announced its decision to cut up to 380 jobs, according to Unite the union.

    The bank told its workforce that it would be making 176 jobs redundant when it closes 117 of its high-street branches and will be cutting up to 204 IT jobs, with the majority of them going overseas.

    Technical roles will be “offshored” to teams in India, China and Poland.

    Unite will be pressing HSBC to ensure that there are no compulsory job losses as a result of the branch-closure plans. Unite national officer Dominic Hook said: “It is a dark day for hundreds of HSBC staff who will arrive at work to be told that they could lose their job as their branch closes or their IT role is cut.”

    He added: “This announcement comes just days after the disappointing news that Yorkshire & Clydesdale Bank will be shutting 79 branches with 400 job losses.

    “Unite is again calling on the banking industry to rethink such branch-culling exercises, which do nothing to reassure customers or staff that banking is accessible and open to all.”


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