Skip to primary navigation Skip to main content
Live Hearing:Preparedness for COVID-19: The Initial Pandemic Response and Lessons Learned - Watch Live Now

U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History

Permanent Subcommittee on Investigations

Location: Room 106, Dirksen Senate Office Building



Open in New Window

Member Statements

Agenda

The Permanent Subcommittee on Investigations held a hearing, "U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History," on Tuesday, July 17, 2012, at 9:30 a.m., in Room 106 of the Dirksen Senate Office Building.

The Subcommittee hearing examined the issue of money laundering and terrorist financing vulnerabilities created when a global bank uses its U.S. affiliate to provide U.S. dollars, U.S. dollar services, and access to the U.S. financial system to high risk affiliates, high risk correspondent banks, and high risk clients, using HSBC as a case study.  

Witnesses

PANEL 1

  • THE HONORABLE  DAVID S. COHEN
    Under Secretary for Terrorism and Financial Intelligence
    U.S. Department of the Treasury
    Washington, DC
    Download Testimony (32.7 KB)
  • MR.  LEIGH H. WINCHELL
    Assistant Director, Investigative Programs
    U.S. Immigration & Customs Enforcement, U.S. Department of Homeland Security
    Washington, DC
    Download Testimony (68.7 KB)

PANEL 2

PANEL 3

PANEL 4

  • THE HONORABLE  THOMAS J. CURRY
    Comptroller of the Currency
    U. S. Department of the Treasury
    Washington, DC
    Download Testimony (117 KB)
  • MS.  GRACE E. DAILEY
    Former Deputy Comptroller for Large Bank Supervision
    Office of the Comptroller of the Currency
    Washington, DC
    Download Testimony (117 KB)
  • MR.  DANIEL P. STIPANO
    Deputy Chief Counsel
    Office of the Comptroller of the Currency
    Washington, DC
    Download Testimony (117 KB)