Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

HSBC

AsleepInYorkshire
Lemon Half
Posts: 7383
Joined: February 7th, 2017, 9:36 pm
Has thanked: 10514 times
Been thanked: 4659 times

HSBC

#433139

Postby AsleepInYorkshire » August 7th, 2021, 4:38 pm

Netflix have a new documentary series called Dirty Money. One of the programmes is about the HSBC money laundering scandal involving $881m. A sizeable amount of the money was drug money in Mexico. HSBC was fined $1.9m and prevented from owning a dog for 6 months.

From 2007 to 2014 164,000 people were killed in Mexico due to drug related crime. I'd prefer to call it murder. I don't know if any of my pension funds contain HSBC. I'll check.

AiY

Itsallaguess
Lemon Half
Posts: 9129
Joined: November 4th, 2016, 1:16 pm
Has thanked: 4140 times
Been thanked: 10023 times

Re: HSBC

#433141

Postby Itsallaguess » August 7th, 2021, 4:43 pm

AsleepInYorkshire wrote:
HSBC was fined $1.9m and prevented from owning a dog for 6 months.


Did it have to sell all it's own shares that it held in treasury?

https://i.imgur.com/ekQpV59.gif

Cheers!

Itsallaguess

scrumpyjack
Lemon Quarter
Posts: 4814
Joined: November 4th, 2016, 10:15 am
Has thanked: 606 times
Been thanked: 2675 times

Re: HSBC

#433143

Postby scrumpyjack » August 7th, 2021, 4:53 pm

AsleepInYorkshire wrote:Netflix have a new documentary series called Dirty Money. One of the programmes is about the HSBC money laundering scandal involving $881m. A sizeable amount of the money was drug money in Mexico. HSBC was fined $1.9m and prevented from owning a dog for 6 months.

From 2007 to 2014 164,000 people were killed in Mexico due to drug related crime. I'd prefer to call it murder. I don't know if any of my pension funds contain HSBC. I'll check.

AiY


Er, I think you are out by a factor of 1,000! It was $1.9 BILLION. They would not have noticed $1.9 million.
Thinking about it $1.9 billion isn't that large on the scale of bank penalties or write offs.

BobbyD
Lemon Half
Posts: 7814
Joined: January 22nd, 2017, 2:29 pm
Has thanked: 665 times
Been thanked: 1289 times

Re: HSBC

#438325

Postby BobbyD » August 30th, 2021, 8:20 am

AsleepInYorkshire wrote:Netflix have a new documentary series called Dirty Money. One of the programmes is about the HSBC money laundering scandal involving $881m.


The HSBC episode has been kicking around on Netflix forever, it's atleast 3 years old.

Dod101
The full Lemon
Posts: 16629
Joined: October 10th, 2017, 11:33 am
Has thanked: 4343 times
Been thanked: 7534 times

Re: HSBC

#438351

Postby Dod101 » August 30th, 2021, 9:57 am

Yes this is sadly now ancient history. Apart from the large company fine, their CEO for Mexico was forced into early retirement (not that it seemed to do him any harm, financially or otherwise)

Dod


Return to “Catastrophe Corner”

Who is online

Users browsing this forum: No registered users and 10 guests