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Mexico has a huge amount to cover up for itself and the USA - La Compania (the company - the CIA) owns most of Mexico and Latin America and runs the drugs through there from California based CIA sponsored drug gangs.
So Al-CIAeda works for the CIA and Mossad and they work for MI5/6 and HSBC pulls all the unlawful purse strings for it all. London is the home to terrorism - they manage it and fund it - all of it!
The Tribune, Chandigarh, India - Business
HSBC Bank USA president & CEO Irene Dorner (L) and HSBC Holdings chief legal officer Stuart Levey testify before the Senate Homeland Security & Governmental Affairs Committee in Washington on July 17. — Reuters
Washington, D.C., July 18
Global banking giant HSBC’s staff in India have come under the scanner for deficiencies in their role as "offshore reviewers" of the global banking giant's compliance to safety mechanism against money laundering and terrorist financing.
A probe by the US Senate's Permanent Subcommittee on Investigations found that HSBC's Anti-Money Laundering (AML) Compliance Department, which included employees in India, was highly inadequately staffed.
Besides, deficiencies were found in the quality of the work done by HSBC's "offshore reviewers in India", who were used for clearing a major backlog of suspected transaction alerts at the bank.
More than one-third of the alerts already resolved by the Indian reviewers and others "had to be re-done" after an independent assessment by the OCC (the US Office of the Comptroller of the Currency, which is the bank's primary federal regulator in the country). The probe further found that an OCC visit to India in 2007 had revealed "Weak Monitoring Procedures" in the bank's internal control systems.
At a hearing before the Senate Subcommittee on the matter here yesterday, HSBC apologized for its mistakes and gave its "absolute commitment" to fix the problems.
The 340-page investigation report, which was released yesterday, found HSBC to have used its US bank (HSBC US Bank or HBUS) as a gateway into the US financial system to provide US dollar services to clients while "playing fast and loose with US banking rules," Senator Carl Levin, the chairman of the subcommittee, said.
The investigations found that HSBC, with its headquarters in London, allowed affiliates in countries such as Mexico, Saudi Arabia and Bangladesh to move billions of dollars in suspect funds into the US without adequate controls.
Besides, HSBC in 2009 authorized its affiliate to supply Indian rupees to Saudi Arabia's Al Rajhi Bank, which, the report said, has links to financing terrorism.
The report also said that Al Rajhi Bank handled IIRO's (International Islamic Relief Organisation) "charitable contributions intended to benefit suicide bombers by directing Al Igatha Journal advertisements ... In Somalia, Sri Lanka, India, and the Philippines."
It cited a lawsuit to say that charitable organisations such as the IIRO use banks like Al Rajhi Bank to "gather donations that fund terrorism and terrorist activities" under the guise of IIRO funds labeled and designated for purposes such as 'war and disaster' or 'sponsor a child'.
IIRO is a Saudi-based nonprofit organization that was added to the SDN list by the United States for "facilitating fund raising for Al Qaida and affiliated terrorist groups," the report said, while adding that HSBC's internal Financial Intelligence Group (FIG) itself had raised questions about IIRO in 2003.
The SDN (Specially Designated Nationals) List, published by the US government, names individuals and entities with whom US citizens are prohibited from doing business.
Again in 2006, an FIG report noted that "the IIRO had been linked to Al Qaeda and other terrorist groups. — Reuters