Today, Mexico's national Banking & Securities Commission (CNBV) fined HSBC Mexico (Grupo Financiero HSBC SA de CV) 379m Pesos, or the equivalent of $27.5m, for money laundering failures. That fine represents one-half of HSBC Mexico's 2011 net profit.
Inasmuch as the bank was the largest transmitter of US Dollar notes from Mexico to America, though it was not the biggest financial institution, and HSBC processed what were obviously an obscene amount of drug profits, should not there be an indictment of the senior officers at the Mexican subsidiary ?
If neither the US nor Mexican prosecutors ever charge any HSBC leaders with money laundering, then they will simply accept employment elsewhere, and do it all over again. Who will stop the rain ?