HSBC provided a conduit for "drug kingpins and rogue nations", according to a US Senate committee investigating money laundering claims at the bank. Its report said suspicious funds from countries including Mexico, Iran and Syria had passed through the bank. The president and chief executive of HSBC Bank USA, Irene Dorner, apologised to the committee for the behaviour which she said deeply regretted. Earlier, HSBC's head of compliance, David Bagley, resigned at the hearing. Ms Dorner apologised "for the fact that HSBC did not live up to the expectations of our regulators, our customers, our employees, and the general public".
LIVE 7 Days a Week!
Mon-Sun: 7pm-10pm Eastern
Enjoy the new site and thanks for submitting your content!