# The hard part of money laundering **URL:** \ **Category:** Factual Questions\ **Created:** [June 19, 2021, 11:10pm UTC](https://boards.straightdope.com/t/the-hard-part-of-money-laundering/944654 "2021-06-19T23:10:00Z")\ **Posts on this page:** 2\ **Page:** 20
**Author:** ![Folacin](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/folacin/32/3195_2.png) [@Folacin](https://boards.straightdope.com/u/Folacin)\ **Post date:** [July 20, 2021, 6:47pm UTC](https://boards.straightdope.com/t/the-hard-part-of-money-laundering/944654/382 "2021-07-20T18:47:05Z")
> [@DrDeth](#): > > # HSBC to pay $1.9 billion U.S. fine in money-laundering case Cost of doing business. A high cost (about 12% of their profits that year it looks like), but no one went to jail and they didn’t lose their corporate charter. ---
**Author:** ![DrDeth](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@DrDeth](https://boards.straightdope.com/u/DrDeth)\ **Post date:** [July 20, 2021, 7:24pm UTC](https://boards.straightdope.com/t/the-hard-part-of-money-laundering/944654/383 "2021-07-20T19:24:09Z")
HSBC is not a US chartered bank. > **[HSBC](https://en.wikipedia.org/wiki/HSBC)** > > Pages for logged out editors learn more > > > > HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA), respectively. HSBC traces its origin to a hong in British Hong Kong, and its present form was established in Londo... There have been dozens of other fines. Note also: _Support for China’s Security Law for Hong Kong (2020)_ But yeah, why is it still allowed to operate? I was headhunted by them, but demurred. [Previous page](https://boards.straightdope.com/t/the-hard-part-of-money-laundering/944654.md?page=19)