Whistleblower: HSBC Still Laundering Money for Terrorists, Drug Cartels

Big banks are apparently too big to jail, even when they bankroll terrorists and drug cartels, while regular people fill the prisons in the world’s largest drug population for mostly non-violent drug offenses.

Aaron Dykes

As a former Anti-Money Laundering Officer at HSBC, Everett Stern was arguably never actually supposed to catch money laundering activity. Instead, with little training but an inclination to make a difference, Stern caught massive levels of fraud, and contacted CIA and FBI officials in the summer of 2010 to alert them of systematic financing for terrorist organization, drug cartels and other shady entities.

HSBC was eventually fined $1.9 billion dollars by the U.S. Treasury, but Stern recently joined Occupy Wall Streets’ Alt Banking protest (See video) – despite being a self-described conservative Republican – to call for criminal charges and accountability over what he says is continued money laundering on the part of HSBC officials.

Luke Rudkowski, of We Are Change, spoke with Everett Stern about his whistleblowing activities, and how he says the bank deliberately set itself up to fail at catching laundering transactions: