Conflict & Justice

British Bank HSBC Allowed Money Laundering


Senator Carl Levin: "HSBC's chief compliance officer knew what was going on"

A US Senate report is accusing British bank HSBC of a "pervasively polluted" culture, allowing clients to launder money through the United States from Mexico, Syria, and Iran, among other places.

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The report, the result of a year-long investigation by the Senate Permanent Subcommittee on Investigations into the bank's activities, is being discussed today in a hearing on Capitol Hill.

Financial Times reporter Shahien Nasiripour has been following events at the hearing.