Ahh, the banksters. The more things change...
https://www.bbc.com/news/uk-54225572
Somehow, I do not think adding 0s to the next fine is going to help much.
But not to be outdone...
High time to send the C-suite on an all expenses paid trip to Club Fed, but I guess I should not get my hopes up that will ever happen.
HSBC allowed fraudsters to transfer millions of dollars around the world even after it had learned of their scam, leaked secret files show.
The files show the investment scam, known as a Ponzi scheme, started soon after the bank was fined $1.9bn (£1.4bn) in the US over money laundering. It had promised to clamp down on these sorts of practices.
Somehow, I do not think adding 0s to the next fine is going to help much.
But not to be outdone...
The FinCEN Files also show how multinational bank JP Morgan may have helped a man known as the Russian mafia's boss of bosses to move more than a $1bn through the financial system.
High time to send the C-suite on an all expenses paid trip to Club Fed, but I guess I should not get my hopes up that will ever happen.