HSBC, Europe's largest bank, was caught allowing drug kingpins including El Chapo's Sinaloa Cartel and Colombia's Norte del Valle Cartel to launder at least $881 million through its accounts. The bank failed to monitor over $670 billion in wire transfers and $9.4 billion in cash purchases from HSBC Mexico. Despite admitting to the crimes, HSBC received a deferred prosecution agreement -- paying $1.9 billion with no criminal charges against any executive.
HSBC laundered $881 million for the Sinaloa Cartel and failed to monitor $670 billion in suspicious transactions
βHSBC has been systematically enabling money laundering for some of the world's most dangerous drug cartels through its Mexican operations.β
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