Compliance Failures Frame HSBC Money-Laundering Risks

, Corporate Counsel


Following a Senate report that found alleged connections between HSBC Holdings and international money laundering, insiders say the bank's compliance efforts didn't keep up with corporate growth.

What's being said

  • A “product of historical growth by acquisition”. Sound familiar? Think Citigroup under Sandy Weil and Bank of America under Hugh McCall and Ken Lewis. Train wrecks waiting to happen.

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