![]() ![]() Netflix has not disclosed ratings for “Dirty Money,” which was released January 26, but analysts estimate it is among the most highly rated documentaries in the streaming giant’s history and the series has a 100% rating on Rotten Tomatoes. However, the spotlight has turned back onto HSBC’s money-laundering lapses by “Cartel Bank,” an episode of Netflix’s new corporate-malfeasance documentary series “Dirty Money” specifically devoted to the scandal. ![]() bank, which generates the lion’s share of its revenue in Asia, would pay no further penalty for its money-laundering controls. Last December, the deferred prosecution agreement (DPA) that HSBC had entered into with the Department of Justice officially expired, providing confirmation that the U.K. Justice Department officials, led by President Obama’s former Attorney General Eric Holder, overruled their prosecutors’ recommendation to pursue criminal charges against HSBC in 2012. ![]() The Wall Street Journal revealed in 2016 that U.S. Even though federal investigators found evidence “that senior bank officials were complicit in the illegal activity,” no HSBC executives faced charges for their actions. In addition to facilitating money laundering by drug cartels, evidence was found of HSBC moving money for Saudi banks tied to terrorist groups. HSBC, Europe’s biggest bank, paid a $1.9 billion fine in 2012 to avoid prosecution for allowing at least $881 million in proceeds from the sale of illegal drugs. ![]()
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January 2023
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