HSBC failed to apply required money laundering controls to $200 TRILLION in wire transfers!

"According to legal documents for the case, HSBC admitted that it failed to apply legally required money laundering controls to $200 trillion in wire transfers alone, in only a three year period, $670 billion of which came from Mexico. $200 trillion – that is approximately 3 times world GDP."

" this is not mere money we are talking about; it is the daily gang violence on the streets of our cities and towns, it is the increased likelihood that your children will be offered drugs in their schools, it is the abduction of children and selling them into the sex trade. Authorities estimate that the average annual income generated from a trafficked child is $200,000 per year. That money has to be laundered somewhere, by someone."

"For this, HSBC was fined a mere $1.9 billion (remember, there is over $200 trillion being handled in ways that violate multiple U.S. laws here) and not one person is being prosecuted."

"This is the lesson that our judicial system is teaching bankers over and over again. HSBC Bank U.S.A was already under a written agreement from 2003-2006 with U.S. regulators to correct deficiencies in its anti-money laundering regime"