Wonder how big an effect this will have on them?
https://www.bbc.co.uk/news/uk-54225572
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Wonder how big an effect this will have on them?
https://www.bbc.co.uk/news/uk-54225572
I haven't banked either HSBC for 25 years, but today they sent me an email asking me to confirm my details with them.
How thoughtful.
It will have he same effect as last time (and the time before that).Quote:
Originally Posted by the other bob wilson
What is embarrassing is that the UK banking system being used for money laundering and HSBC being a significant part of it is seen as "news" by the BBC.
James Comey was a board member in 2013.Quote:
Originally Posted by the other bob wilson
UK banking has always been at the forefront of money laundering.Quote:
Originally Posted by JumpersforGoalposts
It won’t affect them at all. £80m is a drop in the ocean for a banging company. Probably won’t even cause a slight blip!Quote:
Originally Posted by the other bob wilson
wow clearly I'm in the wrong type of businessQuote:
Originally Posted by cityhammer
Did you think they would leak it if it didn't serve any agenda?Quote:
Originally Posted by the other bob wilson
It is interesting how this ‘story’ is barely mentioned by other news outlets and not mentioned on the front pages of any of the main newspapers and yet completely dominated the BBC News app. And has already nearly gone.Quote:
Originally Posted by the other bob wilson
Very strange.
HSBC in particular have been at the forefront of US financial regulator investigations for some years and have pleaded/plead guilty of several counts of money laundering to date leaving several thousand of associated charges still on file. I’m not sure of how much they’ve already been fined but it hasn’t stopped HSBC from doing business.
They have a devolved business model where for example if HSBC in Thailand goes to the wall the rest of HSBC carries on.
I have an account with HSBC because I can transfer money back to the U.K. without incurring bank charges.
I also have an offshore account in US dollars which they manage very well. HSBC are a good bank to do business with and in my experience customer focussed.
I believe it’s true to say that a fair number of big banks and a bigger percentage of small or middle size banks are all guilty of laundering money gained through the proceeds of crime for which the account holders are not able to prove satisfactory provenance.
It’s not unusual for businesses and properties to be bought by limited companies that are registered in for example the Bahamas or Crete and the businesses run as shells for the purpose of washing funds. I know for example of 5 star golf course resorts where you are not able to book a round or stay overnight because they are always fully booked yet if you actually went there you wouldn’t see anybody playing or staying.
This money laundering business has got a lot of levels yet to be revealed
Well, their share price is at a twenty five year low today.Quote:
Originally Posted by Bobby Dandruff
Here is the source of the story. A consortium of investigative journalists.Quote:
Originally Posted by the other bob wilson
https://www.icij.org/
Some interesting names on the money laundering list,
https://www.icij.org/investigations/...ntial-clients/
Ukrainians, Deripaska, Firtash, Kolomoisky and the US criminal and former Trump campaign manager Paul Manafort.
Wouldn't it be spooky if some of the dirty deeds of these Ukrainians cropped up in tainted investigations reaching their conclusion.
:hehe:Quote:
Originally Posted by cyril evans awaydays
Already planned 35,000 job loses this year and changing its whole investment bank, assume this will just accelerate it.Quote:
Originally Posted by the other bob wilson
Have you noticed the pandemic going on? The fall in share price is not due to some BBC story!Quote:
Originally Posted by the other bob wilson
Still odd that, six months after lockdown was announced, it was the first trading day after the story broke that shares dipped to their lowest level in a quarter of a century , are you saying that is a coincidence?Quote:
Originally Posted by cityhammer
Who shut down the original investigation into Manafort before Trump came on the scene? It's going to be lovely when all this stinky poo stuff finally comes out.Quote:
Originally Posted by cyril evans awaydays
Mate, it was on the Spanish news (so i assume other international news to have picked it up) and despite what Bobby said at the time of his post it was still on the front page of the Guardian, FT, & Reuters . Yesterday it was in CNBC & Business Insider and suspect it'll be in the news for the coming weeks.Quote:
Originally Posted by cityhammer
Oh,and IT WAS NOT a BBC Story it was passed to Buzzfeed. https://www.buzzfeednews.com/article...g-drug-cartels
Any mention of Langston in the files?