Lax controls at HSBC allowed Mexican drug cartels to launder billions of dollars through the British bank’s operations in the US, an investigation has found.

The report by a U.S. Senate committee also claimed that HSBC provided banking services to some lenders in Saudi Arabia and Bangladesh

HSBC Allowed ‘Mexican drug Cartels To Launder Billions Of Dollars Through Its Banks’, Reveals Scathing Report From US Senators (Mail Online)

Also:

This is the British economic-policy establishment under unprecedented pressure – and what an unseemly, blame-ducking, buck-passing panic it presents. Not just the humbling of some of our most senior and respected officials but also the erraticism with which they have been making policy.

Libor Scandal: Gunfight On Threadneedle Street (Editorial, Guardian)