Monday April 6, 2020

HSBC to apologise to money laundering hearing

HSBC will apologise at a July 17th US Senate hearing for anti-money laundering controls that weren’t effective enough, according to an internal memo.

11th July, 2012
“We failed to spot and deal with unacceptable behavior,” said HSBC chief executive Stuart Gulliver.

HSBC will apologise at a July 17th US Senate hearing for anti-money laundering controls that weren’t effective enough, according to an internal memo obtained by Bloomberg News.

“We failed to spot and deal with unacceptable behavior,” chief executive Stuart Gulliver said in the note sent to employees yesterday, referring to the period between 2004 and 2010. “It is right that we be held accountable and that we take responsibility for fixing what went...

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