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HSBC Mafia Banking Exposed : Money laundering and Cashing on drug cartels

HSBC is not only a very convenient banking harbor for tax fraud and criminals, it is also a nightmare for ordinary decent customers.

Boris Sullivan

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HSBC, once one of the best reputation in business banking is going down from bad to worse. Accusations of fraud and money laundering from France, Belgium and the US are piling, as the British bank is also facing a lawsuit for bankrolling the Mexican drug cartel.

In an unprecedented legal move, families of Americans murdered by Mexican drug cartels filed a lawsuit this week against the London-based HSBC bank for allegedly providing “continuous and systematic material support” to Mexico’s Sinaloa, Juárez, and Los Zetas cartels by laundering billions of dollars.

The lawsuit was filed Tuesday against HSBC Holdings, HSBC Bank USA, and HSBC México S.A. in the U.S. District Court of the Southern District of Texas.

The plaintiffs are the Zapata, Avila, Redelfs and Morales families. Three of the victims were U.S. government employees.

HSBC-Dirty-Money-Laundry-Washing-Machine

HSBC Mafia Banking Exposed : Money laundering and Cashing on drug cartels

In this week’s lawsuit, the Plaintiffs accused HSBC of having operated in a “culture of recklessness and corruption” in which employees in their branches in Mexico

“routinely accepted deposits of hundreds of thousands, sometimes millions, of U.S. dollars from individuals with no identifiable source of income, delivered in multiple boxes specially designed to fit the precise dimensions of the teller windows.”

Drug kingpins, tax dodgers : yes we are open ! Honest customers : Sorry we are closed…

But HSBC is not only a very convenient banking harbor for tax fraud and criminals, it is also a nightmare for ordinary honest customers.

According to Trustpilot website, HSBC has currently the worst possible rating : 0.8 /10 with 232 reviewers. Hundreds of comments are describing bad service and hours long waiting time on the phone.

This poor excuse for a bank have ruined a honeymoon and a first anniversary trip abroad with arbitrary card stoppages. The customer service is terrible, the phone system archaic. They take no responsibility so I have moved to Barclays and reported them to the Financial Ombudsman. HSBC apparently likes being the most complained about bank in the UK with over 15,000 complaints last year alone! Idiots.

Although most of the comments are directed at HSBC in the UK, some of them also review HSBC in Hong Kong, including Business Accounts.

There is no customer service at Hsbc business banking in Hong Kong. There is a radio playing bad music and an illiterate moron picking up the phone from time to time to tell you he can’t do anything, please call back at another time. Just a polite way to tell you to go f..k yourself. Oh, BTW my business account has been blocked now for three month for no reason. No problem it is HSBC.

On consumeraffairs.com, the music is the same : HSBC is rated with the worst possible note of one star based on 670 reviews.

Advice to anyone who is considering opening an account with HSBC: if you want your money to get stuck there and don’t mind losing it, then do it. Otherwise, find another place to give your business to. For me, I wish the balance in the account is only a few hundred dollars which means I’ll just take the loss and get robbed by HSBC…but then again, I’ve read horror stories on HSBC piling up huge fees without telling customers. Maybe my account balance is already wiped out by fees. We will see…

Bankrolling the Mexican mafia and stealing money from their honest customers seems to be the new modus operandi of HSBC.

One common small time crook operative system from HSBC Business in Hong Kong is to send three or four time the same big five pages questionnaire.

If only one answer is missing or misspelled, then the account is frozen without notification, and since they never pick up the phone after six month it is considered inactive and lost forever. Well, not lost for everybody of course….

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HSBC Mafia Banking Exposed : Money laundering and Cashing on drug cartels

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