Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,158,876 members, 7,838,138 topics. Date: Thursday, 23 May 2024 at 04:01 PM |
Nairaland Forum / Nairaland / General / Business / South African Central Bank Fines HSBC For Lax Money Laundering Controls (12729 Views)
Allen Onyema Indicted For Bank Fraud And Money Laundering In America / Real Reason HSBC And UBS Exited Nigeria! / HSBC And UBS Close Offices In Nigeria (2) (3) (4)
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by Topmaike007(m): 11:11pm On Nov 09, 2018 |
Cownu:wey Atiku supporters cos I know is Sai baba dat caused it.... 3 Likes 2 Shares |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by dafemnet: 11:12pm On Nov 09, 2018 |
SarkinYarki:Hsbc launders corrupt funds, Google is ur friend. 5 Likes 1 Share |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by israelmao(m): 11:14pm On Nov 09, 2018 |
Xda59:Of course 1 Like |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by BabaO2: 11:16pm On Nov 09, 2018 |
ionsman:Atiku don enter one chance 3 Likes 1 Share |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by Boss13: 11:26pm On Nov 09, 2018 |
It appears HSBC isn’t serious about money laundering. They were fine in the US and Canada and now South Africa. 5 Likes |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by staytravel: 11:30pm On Nov 09, 2018 |
ionsman: I hukwa.... |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by kunmiiii: 11:39pm On Nov 09, 2018 |
I knew HSBC always had a strong nexus with money laundering, so I wasn't entirely surprised when PDP, Atiku and his band of wailers started screeching about their exit... HSBC was indicted and subject of a 2012 US Senate Investigation for laundering money for Iran and N.Korea November 2012, an Indian activist and politician said he had details of 700 Indian bank accounts hiding black money with a total value of ₹60 billion (US$840 million) with HSBC in Geneva.In June 2013, a media outlet in India did an undercover expose where HSBC officers were caught on camera agreeing to launder "black money." In November 2012 it was reported that HSBC had set up offshore accounts in Jersey for suspected drug-dealers and other criminals, leaking details of £700 million allegedly held in HSBC accounts in the Crown dependency March 2013 Argentina's main taxing authority accused HSBC of using fake receipts and dummy accounts to facilitate money laundering and tax evasion In June 2015 HSBC was fined by the Geneva authorities after an investigation into money laundering within its Swiss subsidiary. The fine was 40 million Swiss Francs. In July 2016 the United States Department of Justice charged HSBC Bank over an alleged $3.5 billion currency scheme which defrauded HSBC clients and "manipulated the foreign exchange market to benefit themselves and their bank". HSBC settled for $17.9 million in the Libor scandal, HSBC was fined 33M euros for their role in the manipulation of the Euribor rate HSBC till date remains the only bank in the world to pay a whooping record of $1.9 billion fine in to avoid prosecution for laundering $881 million in proceeds from the sale of illegal drugs for Mexico's Sinaloa Cartel and Columbia's Norte del Valle Cartel. In addition to facilitating money laundering by drug cartels, evidence was found of HSBC moving money for Saudi banks tied to terrorist groups, even Netflix did a documentary on them titled "Dirty Money" for their malfeasance and corrupt practices So, After all these shady, unethical and corrupt practices around the globe, i wasn't surprised when PDP, Atiku and his band of wailers were fussing about their exit because wherever corruption and venality thrives is where they always find solace in. 11 Likes 1 Share |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by Didi2d(m): 12:16am On Nov 10, 2018 |
bouncebackk: No mind them, they don't just want to hear any good thing from Buhari, Buhari cannot please this people 4 Likes |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by Nobody: 12:17am On Nov 10, 2018 |
ionsman: HSBC is the bank of drug cartels and big time crooks around the world. They've been fined by the US government as well, if you don't believe, Google it. 4 Likes |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by yoged(m): 12:17am On Nov 10, 2018 |
Mynd44:lol |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by Nobody: 12:23am On Nov 10, 2018 |
dafemnet: G boys favourite bank. |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by datribune: 12:41am On Nov 10, 2018 |
Atiku almost wept when HSBC, his bank of choice escaped from Nigeria after they were accused by EFCC of laundering $100M Abacha loot & laundering proceeds of corruption for over 50 Nigerians. HSBC has a dark, ugly track-record of laundering dirty money worldwide, even for drug traffickers. In 2012, they paid $1.9b fine to avoid prosecution for laundering $881 million in proceeds frm sale of illegal drugs by Mexican cartels. In Nigeria they were accused of laundering $100M Abacha loot & laundering proceeds of corruption for over 50 Nigerians. 4 Likes 1 Share
|
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by famosh: 12:43am On Nov 10, 2018 |
bouncebackk:How can you put PDP sycophants & shame in the same sentence? 4 Likes |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by kunmiiii: 1:11am On Nov 10, 2018 |
SarkinYarki: 3 Likes
|
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by ajl: 2:46am On Nov 10, 2018 |
I am sure Atiku is one of their Nigerian customers. 3 Likes |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by ajl: 2:55am On Nov 10, 2018 |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by pacespot(m): 3:27am On Nov 10, 2018 |
All these neocolonialist banks, they re using them to launder what is left in African wealth and heritage. 1 Like |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by Nobody: 4:31am On Nov 10, 2018 |
My people perish for lack of knowledge. Most Banks abroad including Goldman Sachs and Citi have been indicted by the US so many times for money laundering. We must not politicize this. What they said if you read was that they were fined because the controls were not effective not that they laundered money through their South African affiliate. Most times even in Nigeria CBN fines banks for lax internal control systems once they are done auditing them and they discover infractions these infractions can range from account opening forms not having complete documentation and KYC data to poor system controls. Please let us stop politicizing everything even Nigerian banks have always been fined for offences similar to HSBC and it may interest you to know that money laundering that politicians do here must be facilitated by a Nigerian bank so cool down before you start attacking HSBCc 2 Likes |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by tizteezy(m): 5:40am On Nov 10, 2018 |
obynzo: You have a point. However, if u wake up to smell the coffee, you'll realize HSBC is one of Nigeria's major problems with regards corruption. We are tired. Good riddance! 3 Likes |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by ppogba: 5:50am On Nov 10, 2018 |
obynzo: The first step to any infraction not to talk of fraud or money laundering is weak control. For a foreign bank, it is nu-justifiable because the home Central Bank already has a guideline for you to follow. Where there are no laws, there are no offenses or crimes. More often than not, the Nigerian banks you are talking about do it deliberately. In the case of HSBC, shey na only dem waka come? Fines here and there. Where you are being rumored as being a thief, you should not be found playing with a kid goat-----African proverb. 5 Likes |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by FTjnr(m): 6:38am On Nov 10, 2018 |
na wa o! this is similar to bigshoe880's case, although it was the bank that ruined his already wasted life this time. the poor church rat had to open a thread on nairaland and beg for transport fare back to his village in enugu. |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by gare(f): 7:19am On Nov 10, 2018 |
I wonder the way some you reason, since the inception of Democracy in this country has there being any corruption case that was linked to this Bank ? if there is any kindly state. Then from this article if you guys actually read and understood it very well the Bank was not linked to any money laundering and the financing of terrorism," but Certain weaknesses were identified in HSBC's processes which inhibited HSBC from proactively detecting potential money laundering and the financing of terrorism," It added HSBC was not found to have facilitated any transactions involving money laundering or the financing of terrorism And I believe they have corrected those Observation, going to dig up issues concerning the bank that does make any relevance to the bank leaving Nigeria makes the Ruling party look dumb. 1 Like |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by boxypane(m): 7:28am On Nov 10, 2018 |
No wonder the Nigerian branch closed down. Bubu no give them room to launder money. 1 Like |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by Naajjii: 7:36am On Nov 10, 2018 |
What a sigh of relief, thank God, alhamdulliha, thanks to president Buhari the chairman of anti corruption in Africa for showing other African leaders those monsters that help in facilitating the siphoning of money away from Africa. As expected PDP was crying foul when HSBC left Nigeria voluntarily due to the harsh measures put in place against looting by PMB, no money to loot anymore and they ran away.Things are gradually falling into places , we are not there yet but gradually we will get there with PMB. 2 Likes |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by alizma: 7:38am On Nov 10, 2018 |
That is the bank Atiku is planning to bring back to Nigeria if he wins. 2 Likes |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by Doyin2(m): 8:23am On Nov 10, 2018 |
HSBC Hongkong Shenghen Banking Corporation UBS. Union Bank of. Switzerland Good riddance to terrorist and corrupt people's bank. If you know, you know.. |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by datribune: 10:23am On Nov 10, 2018 |
gare: Educate urself about this shitty bank that has been doing dirty things all over d world. Are you aware that before they escaped frm Nigeria HSBC was accused by EFCC of laundering $100M Abacha loot & laundering proceeds of corruption for over 50 Nigerians?. HSBC has a dark, ugly track-record of laundering dirty money worldwide, even for drug traffickers. In 2012, they paid $1.9b fine to avoid prosecution for laundering $881 million in proceeds frm sale of illegal drugs by Mexican cartels. If they can launder money for drug cartels, what makes you think that they wouldn't do it for some dubious Nigerians?. That bank is bad news, anywhere they go. They even had a major negative impact on d 2008 world economic recession. We don't care if money launderers do not like it but d fact is that PMB has closed d loopholes, no more funds to launder & HSBC's business model based on money laundering has failed them. They had to hurriedly depart. God's willing, we'll never see them in Nigeria ever again. |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by gare(f): 10:30am On Nov 10, 2018 |
datribune: You can not tell me about the activities of this bank, I asked a simple question has any money laundering case been linked to the bank here in Nigeria. No if there's any you say, our own local banks do launder money even your own bank will ask them to close shop and move, they have other genuine services they render so don't think PMB fake fight against corruption made them leave Nigeria, so you tell me governors, ministers are not moving money? If you say no, then you need to check and learn about the country called Nigeria |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by datribune: 10:37am On Nov 10, 2018 |
gare: My friend, read before hurriedly replying. They've been linked to laundering $100M for Abacha & also laundering proceeds of corruption for over 50 Nigerians. Why are you passionately defending d ignominious actions of d bank of choice for money launderers, even drug cartels? |
Re: South African Central Bank Fines HSBC For Lax Money Laundering Controls by gare(f): 11:15am On Nov 10, 2018 |
datribune: I read very well and there was no where in the article all you mentioned was stated we don't need to make up issues to justify your point which 50 Nigerians ? And Abacha was not mentioned there, though not a fan of Abacha but the truth must be told, or is there another article ? |
Look What Palmcredit Sent Me / Naira To Weaken Further As Dollar Demand Increases / FG Establishes Bank For Small And Medium Enterprises (smes)
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 70 |