CAPITOL HILL — Global private banking giant HSBC has admitted that lax vigilance made it vulnerable to money laundering by Mexican drug cartels, as well as transactions involving Iran that are banned under U.S. law. HSBC managers pledged to do better in testimony before a Senate investigative committee. U.S. law seeks to disrupt the cash flow of criminal organizations, from drug traffickers to terrorist groups. But for years, London-based HSBC seemingly turned a blind eye to illegal ...
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