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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsConsulates and the Vatican in chaos as HSBC tells them to find another bank
More than 40 embassies, consulates and High Commissions have been affected. Even the Vatican has been given its marching orders.
It was blamed for alleged money-laundering activities said to have been conducted through its Latin American operations by drug cartels. HSBC admitted at the time that it had failed to effectively counter money laundering.
http://www.dailymail.co.uk/money/news/article-2384003/Consulates-Vatican-chaos-HSBC-tells-bank.html#ixzz2bA3M6Swa
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Consulates and the Vatican in chaos as HSBC tells them to find another bank (Original Post)
lovuian
Aug 2013
OP
and the 40 consulates etc? hsbc was founded to bank opium profits & aid the opium trade, &
HiPointDem
Aug 2013
#7
jberryhill
(62,444 posts)1. Whatever happened to storing up treasure in Heaven?
lovuian
(19,362 posts)4. it really does look that the Vatican
was involved with money laundering
HiPointDem
(20,729 posts)7. and the 40 consulates etc? hsbc was founded to bank opium profits & aid the opium trade, &
continued to be in that traffic well into the modern era.
some would say it never got out of the trade, just changed shape.
ChairmanAgnostic
(28,017 posts)2. About f@@king time.
blackspade
(10,056 posts)3. I guess the Vatican missed the memo about selling more drugs to kids.
HSBC has to keep it's profits up!
mrdmk
(2,943 posts)5. Must have been over a drug deal gone bad! n/t
HiPointDem
(20,729 posts)6. ironic, since hsbc was founded to bank opium profits. and continued to do so at least well into
the 1920s.
personally, i think they've always been a drug bank.