Page 18 - HSBC (D) Case Study

HSBC from the 2003 cease-and-desist order even though
it had violated its parole 30 times in a one-year period.

HSBC fully restored its relationship with the Al Rajhi Bank

and supplied the bank with nearly $1 billion ostensibly to

be used by the bank for Saudi Arabia tourists traveling for

their vacations during the Summer period.

For banks engaging in money laundering the going rate of

interest is in the region of 20%