In 2012 HSBC paid US$1.92 billion in fines to US authorities for anti-money laundering lapses. Photo: Reuters In 2012 HSBC paid US$1.92 billion in fines to US authorities for anti-money laundering lapses. Photo: Reuters
In 2012 HSBC paid US$1.92 billion in fines to US authorities for anti-money laundering lapses. Photo: Reuters
David Dodwell
Opinion

Opinion

Outside In by David Dodwell

Criminals hide behind regulatory barriers while banks pay the price

Current practises – in particular rules barring lenders from sharing suspicious activity reports across borders – are leaving banks and regulators ignorant and exposed to criminals and money launderers

In 2012 HSBC paid US$1.92 billion in fines to US authorities for anti-money laundering lapses. Photo: Reuters In 2012 HSBC paid US$1.92 billion in fines to US authorities for anti-money laundering lapses. Photo: Reuters
In 2012 HSBC paid US$1.92 billion in fines to US authorities for anti-money laundering lapses. Photo: Reuters
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David Dodwell

David Dodwell

David Dodwell is the executive director of the Hong Kong-APEC Trade Policy Study Group, a trade policy think tank.