The Senate's Permanent Subcommittee on Investigations began a day of hearings on Tuesday with officials from the US Treasury and Department of Homeland Security.
The Senate report, released ahead of the hearing on Monday, came after a year-long inquiry and said HSBC had routinely acted as a financier to clients routing funds from the world's most dangerous corners, including Mexico, Iran and Syria.
Lax controls at the bank allowed Mexican drug cartels to launder billions of dollars through its US operations, the investigation found." - Al Jazeera English
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Major banks are getting rich from money laundered by violent Mexican drug gangs, whistleblower says.
Sitting in the smart office of a London-based financial security firm, Martin Woods seems far removed from the drug violence tearing at Mexico's soul.
A former compliance officer with the US bank Wachovia, Woods - despite his unassuming demeanor and upper-crust British manners - has seen the drug war and its illicit loot in a light unavailable to even the most seasoned observers.