HSBC Bank is a corrupt money launderer

[Mic Drop]

On may 24th CEO of one of the largest bank in the world - HSBC publicly said that crypto lacks transparency and later it's UK branch started to block payments to Binance. Yesterday same British HSBC branch has been fined £63.9m by the UK's financial regulator for money laundering!

Actually, initially they were fined for £91m though since HSBC not disputed the findings and agreed to settle it was cut down to £63.9m. HSBC's failings cover a period of eight years, from 2010 to 2018, the FCA said.

The FCA's report into HSBC cites examples of poor controls, including failing to spot suspicious activity on the account of a construction director who also played a leading role in a criminal gang trying to steal millions of pounds by setting up fake companies. The person pleaded guilty to VAT fraud and went to prison. HSBC also failed to detect a customer imprisoned for smuggling cigarettes into the UK and ordered to pay £1.2m by the HMRC tax office, where the bank missed "a sustained period of unusual activity," the FCA said.

For those who did not know, in 2012 after an investigation by the US Department of Justice the same bank paid $1.9bn fine (£1.4bn) for laundering money of Mexican drug cartels, circumventing the rules designed to prevent dealings with Iran, Burma, North Korea and being financed by terrorists from Middle East.

Let's think of this as they pay for all the sponsorships at sports venues etc....

Where are they getting the money to throw around at the athletes and sports teams?