HSBC Personal Banking | HSBC Canada

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Issued by HSBC Bank Canada. Limited time offer until April 20, 2020. Bonus available for new HSBC Business Customers. Other terms and conditions apply.

** An Active Trader is a person who conducts at least 150 Qualifying Trades (defined below) during the Trading Period (defined below) in either (a) their HSBC InvestDirect (personal sole and joint accounts (the “Personal Accounts”) or (b) their non-personal account(s) (the “Non-Personal Accounts”).  A Qualifying Trade can be any of the following: (i) online equity, ETF or option orders traded on a North American exchange, (ii) online

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HSBC money laundering report: Key findings

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HSBC operates in more than 80 countries around the world

Failure after failure at HSBC led to the London-based bank being used as a conduit for “drug kingpins and rogue nations”, a 300-page report compiled for a US Senate committee and has found.

The July 2012 report and investigations by US authorities led to the UK-based bank being fined almost $2bn for failing to stop criminals using its banking systems to launder money.

Here we summarise some of the Senate Permanent Subcommittee on Investigation’s main findings against HSBC.

Mexican drug barons

Despite HSBC Mexico (HSMX) operating in a country “under siege from drug crime, violence and money laundering” it had inadequate money laundering controls.

Between 2007-8, for example, HBMX shipped $7bn to HSBC’s US operation, more than any other HSBC affiliate.

Mexican and US authorities expressed concern that drug traffickers were able to circumvent the anti-money laundering controls

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HSBC Personal Banking – HSBC Bank USA

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Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for property located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.

United States persons are subject to U.S. taxation on their worldwide income and may be subject to tax and other filing obligations with respect to their U.S. and non-U.S. accounts. U.S. persons should consult a tax adviser for more information.

HSBC commissioned this article as part of our Beyond Banking initiative.  While HSBC is pleased to offer this Beyond Banking article as an educational service to our customers, HSBC

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