3. It Takes Time
The real issue here is that the U.S. agencies have cited HSBC several times for being deficient at money-laundering practices as long ago as 2003. Nine years later, the situation is apparently not yet under control.
—Jim Antos, a Hong Kong-based analyst at Mizuho, after HSBC chief executive Stuart Gulliver admitted to failing to have anti-money laundering controls in place between 2004 and 2010.
Source: Bloomberg Businessweek
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio