FinCEN Files: HSBC moved Ponzi scheme millions despite warning

[Elefant&Castle]

A woman Mr Pacheco, 44, introduced lost about $3,000. That led to the killing by men hired to kidnap him.

The scheme was started by Chinese national Ming Xu. Little is known about how he came to be living in the US, although he claims to have studied for an MA in California.

https://www.bbc.com/news/uk-54225572

[shri]

HSBC... The gift that keeps giving.

[hullexile]

HSBC... The gift that keeps giving.

They will pay another fine and carry on as normal.

[mrgoodkat]

They will pay another fine and carry on as normal.

They'll add a few more forms to fill out every 6 months for the rest of us.

[DimSumBond]

HSBC the bank that takes admin and form filling to the next level. When they aren't spending zillions "updating" their legacy systems to be cutting edge, they are making headlines for the same old things.

[eightfivetwo]

The entire Buzzfeed report is a good read - highly recommended if you have some time to spare.

As to why HSBC hassles you with forms and reporting but lets this go on, the last sentence sums it up well"

“Even if it's bad wealth, it buys buildings,” he said. “It puts money into bank accounts. It enriches the nation.”

E.g. the criminal money is significant and gets people paid. Your tiny savings and minuscule spending on a credit card means absolutely nothing to them.

[shri]

This one might be an interesting one to follow, if banks gone wild is your think.

https://megaphone.link/CAD3152039731

[shri]

Axios has a less dense report on this leak:

https://www.axios.com/fincen-files-u...98a4bba7b.html

[pin]

Original Post Deleted

A buying opportunity?

[shri]

A buying opportunity?

No clue on the time this photo was taken. But seems like their fung shui is being fixed, so yes we can fully expect HSBC to be back @ 120 in about six months time.

https://twitter.com/galileoch...89722581164033