HSBC reportedly got top government help to hamper money laundering probe- reports

‘Chancellor George Osborne sought to influence a US investigation into HSBC, after the bank admitted laundering money for drug cartels and terrorists, by warning prosecution could throw the global financial system into turmoil.
A US House of Representatives committee report found the British Chancellor and Financial Services Authority (FSA) intervened in a US Department of Justice (DOJ) investigation into illegal activities by the banking giant.
According to the report, prepared by Republicans, the DOJ considered criminal charges in addition to a £1.2 billion (US$1.6 billion) fine it levied in December 2012, but came under pressure from Osborne to drop prosecution.’
Read more: HSBC reportedly got top government help to hamper money laundering probe- reports