(London Guardian) A senior HSBC executive has privately admitted that the bank is "cast-iron certain" to have another major regulatory breach in the future, and is struggling on multiple fronts to clean up its worldwide operations.
Global head of sanctions Lee Hale – whose recorded comments appear to contrast with public statements from HSBC’s chief executive that the bank has fundamentally transformed itself after recent scandals – said gaps remained in the bank’s compliance with sanctions policies and the screening of certain financial transactions.
WND has led the media on coverage of "Laundergate." Click to learn more about the HSBC scandal that has ensnared an Obama nominee.
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Stuart Gulliver, HSBC’s chief executive since 2011, and Rona Fairhead, chair of HSBC North America as well as the BBC Trust, have repeatedly assured the UK parliament that the bank today is markedly different from when its Swiss branch facilitated large-scale tax evasion, or when its Mexican branch was found by US authorities to be complicit in multimillion-dollar money-laundering for drug cartels.