'Money laundering': HSBC boss quits

Press Association
HSBC
HSBC

The head of compliance at banking giant HSBC has resigned in front of a US Senate subcommittee after it emerged the British bank had exposed the US to billions of dollars worth of money laundering, drug trafficking, and terrorist financing.


David Bagley, who has been HSBC head of group compliance since 2002, stepped down before the Homeland Security and Governmental Affairs subcommittee after its findings were published.