We are so sorry that we were caught. Ooops, sorry….We are so sorry that we allegedly violated anti-money laundering laws for years and conducted business with ruthless drug lords. We promise never to get caught again. Ooops…We will never ever ever do that again.
HSBC Holdings Plc (HSBA), the British bank accused of laundering money for Mexican drug lords, apologized to investors for compliance failings as it set aside $2 billion more to cover the costs of regulatory fines and lawsuits.
“Regulatory and compliance events in the first six months of the year overshadowed financial performance,” ChairmanDouglas Flint said in a statement today. “HSBC has made mistakes in the past, and for them I am very sorry.”