COPS: Banksters Gone Wild

[marmar]

(Guardian UK) British bank HSBC is to apologise to politicians in the United States for its failure to properly implement money-laundering controls meant to prevent terrorists and other criminals from using its services.

The disclosure was made in an internal memo sent out by HSBC's chief executive Stuart Gulliver and comes in advance of what is expected to be a substantial fine for the bank.

"Between 2004 and 2010, our anti-money-laundering controls should have been stronger and more effective, and we failed to spot and deal with unacceptable behaviour," Gulliver told staff.

HSBC executives are due to appear before a Senate permanent subcommittee on investigations on 17 July as US officials investigate the ties between money laundering and the financing of terrorism. ...............(more)

The complete piece is at: http://www.guardian.co.uk/business/2012/jul/11/hsbc-failure-control-money-laundering

[arcane1]

1. failure to properly implement = deliberate intention not to

Bartcop's Law #2