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HSBC and Deutsche get bad headlines, but regulators will probably shrug

These embarrassing leaks highlight the inadequacy of the response by banks and governments to this flood of dirty money. Whether it provides much fresh evidence of the failings of individual banks is much less clear

HSBC featured prominently in the money-laundering leaks
HSBC featured prominently in the money-laundering leaks Photo: Chan Long Hei/Getty Images

The leaking of thousands of suspicious transactions reports sent by banks to US authorities over the last two decades is a reminder of the scale of money laundering facilitated by some of the world’s leading financial institutions.

It highlights the inadequacy of the response by banks and governments to this flood of dirty money. Whether it provides much fresh evidence of the failings of individual banks is much less clear.

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