Could HSBC Face the World's First Billion Dollar Money Laundering Settlement?

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Could HSBC Face the World’s First Billion Dollar Money Laundering Settlement?

Could HSBC Face the World’s First Billion Dollar Money Laundering Settlement?

Forbes- Nathaniel Parish Flannery

In late August, I stood in the center of Mexico city, surrounded by glimmering office towers, looking up at the dark outline of the HSBC Mexico building. On the front of the building I could see a dull reflection of the Angel of Independence monument, one of the city’s most famous landmarks. As I explained in a recent article for the Global Post, “The towering bank’s central location at the Plaza of Independence is a metaphor for its importance to Mexico’s financial system.”

Myrna de los Santos, a finance professional who works in one of the neighboring glass office buildings, looked up at HSBC tower and said, “It’s in the heart of the capital, in the most emblematic part of [the city].” She turned her gaze towards HSBC’s logo and said, “This is the bank that’s been accused of laundering money.”

[FORBES]

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