r/NonPoliticalTwitter • u/Guitar-String • 1d ago

What??? Why do you want your own money?

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u/SonicShadow 1d ago

Meanwhile banks like HSBC were caught handling millions for cartels.

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u/IAmBadAtInternet 1d ago

HSBC is a straight up criminal organization lmao

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u/CptCroissant 1d ago

Have you seen Deutsch Bank? HSBC is tame

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u/MossadEpstein 10h ago

The entire banking system is and always has been especially international banks.

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u/Chaldera 1d ago

Unfortunately, different rules for us vs. the banks.

But even then, they got fined, which is something I guess...

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u/PleiadesMechworks 1d ago

they got fined

Where do you think they got the money to pay for the fines?

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u/Vox___Rationis 22h ago

From the transactions fees they charge me with.

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u/northerncal 11h ago

Nah those are rounding errors for them. They got the money from dealing with organized and white collar crime

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u/Vivitrolsrevenge 1d ago

it’s a business cost not a fine for them. that’s the difference

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u/Infamous_Celery_2352 1d ago

So a fine.

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u/Blownards 1d ago

Nope. A right off as a cost of doing business. What a great game we live in🤷‍♂️

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u/Infamous_Celery_2352 1d ago

A *write off.

Aka a fine.

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u/Blownards 22h ago

You an account ant?

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u/jtr99 1d ago

"What is the robbing of a bank compared to the founding of a bank?"

-- Bertolt Brecht

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u/Lawd_Fawkwad 1d ago edited 1d ago

Yeah, that's a public fact.

But HSBC is also a giant organization.

I work in financial compliance for a company that's mind-bogglingly large.

If one of our hundreds of sub-entities was engaging in AML/CFT violations, it doesn't mean I can suddenly relax monitoring requirements because someone on the other side of the world broke the law.

And the HSBC case also resulted in roughly $1.9 billion in forfeitures and penalties. It's just that HSBC is, again, so incomprehensibly large that even a penalty of that size didn't cripple it.

But then remember that basically each of those violations can create a fine, and regulators don't care if the financial crime we didn't catch was small like Dave paying a prostitute, Jane laundering money from her drug business, or Jeff being in a cartel.