Regular readers of SFW know that we are no fans of HSBC.

After all, HSBC has been at the forefront of the financial jihad to facilitate Shariah-compliant finance on a global scale.

Moreover, HSBC employed the Jihadist monster Mufti Taqi Usmani as the chair of their Shariah Advisory Board. Then, when the heat over that relationship became too hot, they cynically replaced him…with his son. We detailed all of this over the past couple of years:

http://www.shariahfinancewatch.org/2009/02/27/hsbcs-shariah-man/

http://www.shariahfinancewatch.org/2010/03/09/mufti-taqi-usmani-no-longer-chief-of-hsbcs-shariah-advisory-board/

Given HSBC’s association with Jihadists like Usmani and their deep involvement with the promotion of Shariah, the fact that they have proven to be lax at compliance with counterterrorism money laundering laws and regulations should come as no surprise. That too is a topic that we have covered here on SFW:

Like the time that they were fined $1 billion for lax money laundering compliance:

http://www.shariahfinancewatch.org/2011/05/24/hsbc-to-be-fined-1-billion-for-lax-money-laundering-compliance/

In fact, there is no doubt that HSBC is the Western world’s chief enabler of Jihad and Shariah:

http://www.shariahfinancewatch.org/2012/05/04/hsbc-leading-western-enabler-of-financial-jihad/

On top of all this OLD news, we have fresh reports that HSBC has not learned its lesson at all. In fact, HSBC appears to have been hard at work doing the same things for which they have been fingered in the past. A report released yesterday by the US Senate details HSBC’s deplorable record when it comes to vigilance in the areas of terrorism and other nefarious activities. It almost seems as if HSBC was the bank of choice for evil when you read about their history and couple it with the Senate report.

The worst part and probably the biggest smoking gun, is the fact that HSBC cannot dismiss these charges as simply a matter of carelessness. How about THOUSANDS of transactions involving the Islamic Republic of Iran in violation of sanctions!

Again, this should come as no surprise. After all, Iran is the world’s most active state sponsor of Jihadist terrorism and also dominates the world of Shariah-compliant finance. Seems like a natural fit for the useful idiots (and perhaps worse) at HSBC:

http://money.cnn.com/2012/07/16/news/companies/hsbc-money-laundering/index.htm

 

 

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