This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Report Charges HSBC With Illicit Transactions: Hot Trends

NEW YORK ( TheStreet) -- Popular searches on the Internet include HSBC (HBC) after a Senate report alleged the London-based bank engaged in possibly illicit transactions.

The report charges that HSBC sent thousands of transactions through its U.S. affiliate, HBUS, without disclosing "links to Iran." Without going through safeguards, the report said the transactions could have been connected to "terrorists, drug traffickers or other wrongdoers." According to the report, HSBC's U.S. division did provide money and services to banks in Middle Eastern countries that are believed to have ties to al Qaeda and other terrorist groups, and also participated in transactions involving Burma, Cuba, North Korea and Sudan, which were potentially prohibited. The report also found that drug cartels laundered money through the U.S. division from 2002 through 2009.

HSBC ignored warning signs that the potentially illicit transactions were taking place, according to the report, allowing them to go on for years.

HSBC said in a statement that it has taken steps to prevent money laundering in the future and changed its senior management last year. The bank also said it plans to offer its apology at a hearing on Capitol Hill Tuesday.

The U.S. Justice Department has launched a criminal investigation into HSBC and the allegations. HSBC could face significant fines and criminal penalties. The bank acknowledged that it is the subject of multiple federal and state investigations.

With operations in 80 countries around the globe, HSBC is Europe's largest bank. It has assets of about $210 billion in its U.S. operations alone.






TiVo (TIVO - Get Report) is trending as the company said it will buy advertising research company TRA for about $20 million.

TiVo is making the move in an effort to further its presence within television analytics. TRA, which measures the effectiveness of television advertisements, actually matches what viewers watch on television with what they buy. The new unit will be known as TiVo Research and Analytics.

TiVo expects the deal to close this month.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
MS $37.70 -1.20%
TIVO $10.52 -1.00%
HBC $0.00 0.00%
AAPL $130.82 -1.30%
FB $79.62 -1.10%

Markets

DOW 18,056.25 -175.77 -0.96%
S&P 500 2,107.75 -18.31 -0.86%
NASDAQ 5,036.65 -52.7120 -1.04%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs