HSBC scum. The Triad Bank Secrets.

The following will document the HSBC scandals and crimes that date back as far as 2010-2015. HSBC has not only committed fraud through tax evasion, but also has ties to the controversial unit known as Hezbollah. The bank has been involved in laundering cartel drug money and has direct ties to several political establishments. The bank stands as an icon of austerity in England and something that should be despised.
In 2010, HSBC was cited by its federal regulator, the Office of the Comptroller of the Currency (OCC), for multiple severe Anti Money Laundering (AML) deficiencies, including a failure to monitor $60 trillion in wire transfers and account activity; a backlog of 17,000 un-reviewed account alerts regarding potentially suspicious activity; and a failure to conduct AML due diligence before opening accounts for HSBC affiliates.  Subcommittee investigators found that the Office of the Comptroller of the Currency (OCC) had failed to take a single enforcement action against the bank, formal or informal, over the previous six years, despite ample evidence of AML problems. (http://www.hsgac.senate.gov).


These crimes persisted and in 2012 a U.S Senate report that was released, despite it’s embargo time, revealed that HSBC’ was involved in yet another lax anti-money laundering scheme to benefit the wealthy, as well as policies allowing the trafficking of suspected Iranian terrorists’ and cartel drug money. The bank had also violated several rules, exposing the financial systems within the U.S which allowed Cartel affiliates to channel $7 billion into the U.S. between 2007 and 2008, this was directly linked to illegal narcotics sale and criminal enterprise.
As well as it’s polices being flawed it seems corruption is also institutionalized, with several reports stating that management and CEO’s are turning a ‘blind eye’ to violations. Forbes magazine said “Furthermore, the investigation showed how the bank’s regulator, the Office of the Comptroller of the Currency (OCC) failed to take a single enforcement action against HSBC despite numerous violations by the international bank.  (http://www.forbes.com/) A subcommittee which investigated the bank after the matter wrote a 330-page report here which witnessed high-end employees openly ignore violations.
In early February 2015  the media outlet ‘The Guardian’ through an international collaboration with Le Monde, BBC Panorama and the International Consortium of Investigative Journalists, leaked sensitive data revealing mass deception perpetrated by HSBC and linked them to crimes such as fraud & tax evasion as well as deep rooted ties to the British establishment (leak: here).  The first part of the leak exposed HSBC and their Swiss branch where:
  • They Allowed Customers to withdraw large piles of cash, often in foreign currency which customers had no use for in Switzerland implying the money was being laundered or used for criminal activities.
  • Using aggressive market schemes to allow wealthy customers to avoid European taxes.
  • To help elite customers by creating “Black Accounts” to hide from domestic tax authorities.
However, as well as various tax dodging schemes, its Swiss Branch was also caught actively helping criminal organizations and human right violators. Since 1988, banks by law are legally obliged to make ‘special’ checks on high risk customers. HSBC however, yet again, turned a blind eye. It was exposed that the bank was providing, and subsequently aiding, some of the worst among us – from notorious Blood diamond smugglers to  Kamlesh Pattni one of Kenyans most corrupt criminals and  the architect behind the Goldberg scam in which several high ranking Kenyan politicians were involved. This scam has often been referred to as ‘Kenya’s biggest corruption case’. The same branch was also involved in military sales and corrupt transactions.
One of the most despicable revelations from the leak were the political ties the bank had. One of the politically exposed clients revealed was Bashar al Assad’s ‘bag man’, Rami Makhlouf, one of the richest men in Syria. Despite being  involved in the bloody civil war that  has claimed the lives of so many civilians, HSBC allowed Makhlouf to hold $15 million in multiple accounts, despite the man being sanctioned by the U.S back in 2011.  However, its not just your garden variety dictator or human trafficker HSBC deals with. The list also includes criminals and warlords half way across the globe. 
HSBC is heavily tied to political groups within the British establishment- the British Conservative Party and Labour Party, as well as their peers. Some of the names exposed during the leak were  Zac Goldsmith, MP for Richmond Park, Ben Goldsmith, automotive heir Georg von Opel,  Lord Sterling of Plaistow and Lord Fink, who was a party treasurer under David Cameron. These political figures have donated huge six figure sums within the past two years to HSBC and were able to profit from off shore Swiss accounts.
What this highlights is not only the links between the banking system and the establishment, but also the exposure of capitalism itself. We often see these crimes as a “one off thing” yet this  is how the machine works and the cogs turn. Deep down, I like to believe that most switched on people understand the inherent flaws this system presents and that we also need to stop brushing these crimes off as “well power corrupts” as its not power that corrupts, but the system itself. The game is rigged, and banks will always win, as they are the foundation of capitalism itself. Those at the top of ‘trickle down economics’ know this and feed off it like the parasites they are. If you think that’s an exaggeration & that the banking sector, although flawed is integral & in no way as corrupt as I claim, you should note that in the time it took for me to write and research this post,  HSBC have committed yet another crime (reported by the http://www.hindustantimes.com/  on November the 2nd 2015). Whistle blower Hervé Falciani (a French citizen and former employee of HSBC Private Bank in Geneva) stated that millions of crores worth of illicit funds are flowing out of India and that he needed protection as a whistle blower from his government. It  is no wonder you have morons deluded by conspiracy theories and Illuminati when cabals like this exist so publicly.
This isn’t austerity, its class war…so soldier the fuck up.

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