HSBC Aids 911 Assailants Gets Out of Jail Free

Now: The U.S. government brings its highest profile case yet of international money laundering against one of the worlds biggest banks. For years American officials have sought and sometimes struggled to crack down on the practices. Today the Departments of Justice and Treasury announced a settlement with HSBC. The bank agreed to pay almost 2 billion in fines and penalties. It was charged with violating sanctions laws by conducting business with customers in Iran Sudan and Cuba. It was also party to helping them launder almost 900 million for Mexican drug cartels. HSBC ignored over 17000 internal compliance review notifications that said there might be an issue in account dealings they knew they were working with cartels and suspected terrorists and did nothing about it helping them funnel a trillions of dollars. As Cenk Uygur explains HSBC got a slap on the wrist from the government giving a clear sign to other big banks-- they can get away with anything. Read more from Judy Woodruff PBS Newshour: Support The Young Turks by Subscribing Support The Young Turks by Shopping Like Us on Facebook: Follow Us on Twitter: Buy TYT Merch: ,

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