HSBC money laundering allegations
Global Witness reported concerns that HSBC allegedly contributed to human rights abuses by “doing business with Mexican drug lords, terrorist financers and pariah states” in the following press release:
- “Outrage at vast HSBC profits and bonuses despite role in drug money laundering”, Global Witness, 4 Mar 2013
Business & Human Rights Resource Centre invited HSBC to respond to the item above. HSBC sent the following materials:
- HSBC's response [PDF]
- HSBC's press release on settlement with US authorities for inadequate compliance with anti-money laundering legislation, 11 Dec 2012 [PDF]
- HSBC’s Annual Report and Accounts, 4 Mar 2013:
- p. 6, extract from the Group Chairman's Statement, Enforcing global standards [PDF];
- pp. 10-11, extract from the Group Chief Executive's Business Review, Global standards [PDF];
- pp. 13-14, HSBC Values [PDF]; and
- pp. 510-511, Notes on the Financial Statements - 43, Legal proceedings and regulatory matters, Anti-money laundering and sanctions related [PDF]
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Response by HSBC: Global Witness says HSBC money laundering contributed to human rights abuses by “doing business with Mexican drug lords, terrorist financers and pariah states”.
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HSBC money laundering allegations
Author: Compiled by Business & Human Rights Resource Centre
Global Witness reported concerns that HSBC allegedly contributed to human rights abuses by “doing business with Mexican drug lords, terrorist financers and pariah states” in the following press release: “Outrage at vast HSBC profits and bonuses despite...
- Related in-depth areas: HSBC money laundering allegations Latest news on conflict & peace
- Related companies: HSBC