David Bagley, HSBC's chief compliance officer, resigned because of "money laundering door" of executives.
 
The day after the U.S. Senate on July 16 local time, published a survey report directed at the HSBC Bank in connection to money laundering for drug traffickers, HSBC's chief compliance officer (CCO), David Bagley announced the resignation of July 17.
 
Bagley in the U.S. Senate hearing held on July 17 It was recognized that HSBC suspected drug dealers money laundering, terrorist financing, and then made the decision to resign. There were indications that Bagley will remain at HSBC remain in office until the end of the transition period.
 
"We live up to the expectations of regulatory agencies." Bagley said at the hearing. However, Senator does not seem ready to let off lightly HSBC. Bagley's hearing, U.S. Senator has repeatedly questioned why the HSBC continue for many years to prevent money laundering ineffective.
 
The New York Times, because "money laundering door" HSBC is likely to face criminal proceedings, and about $ 1 billion fine.
 
U.S. dollars in cash shipped by helicopter "
 
According to Xinhua News Agency reported, Bagley that day admitted to attend the hearing, the Senate Permanent Subcommittee on Investigations, HSBC failed to comply with anti-money laundering laws and regulations.
Bagley said he had told HSBC executives, "for me as well as banks, to find new as chief compliance officer.
 
Bagley, HSBC's chief compliance officer since 2002, the main responsibility is to ensure that the activities of commercial banks to comply with laws, regulations and guidelines, including anti-money laundering to prevent the transfer of terrorist funds.
 
A day earlier, the U.S. Senate released a report called "the vulnerability of the United States in the financing of money laundering, drug trafficking and terrorist organizations - HSBC Case. As many as 340 report pointed out that HSBC, despite the warning, while allowing the negligence of the compliance system, allowing Mexican drug traffickers money laundering, the financing of terrorist organizations in the Middle East.
 
Which HSBC anti-money laundering control problems is established in the acquisition of the HSBC Group in 2002 HSBC Mexico. It has been reported to have been disclosed details, 2008 during the height of the Mexican branch by car or helicopter to the delivery of nearly $ 4 billion in cash in HSBC USA. U.S. regulators warned that such a large amount of the transfer of funds related to drug trafficking or other illegal transactions.
 
In addition, HSBC Mexico has tens of thousands of dollar accounts in the Cayman Islands branch, this branch is in fact no physical office space and no staff, just an empty shell, and the branches 15% The accounts do not even have any customer information, providing a convenient number of money laundering by criminal organizations. HSBC in the Cayman Islands branch a peak in 2008 with total assets of more than 2.1 billion U.S. dollars.



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