why is hsbc a bad company?
user
HSBC has been involved in various financial scandals and cases of money laundering. Their history includes connections to the Iranian arms merchant Sanjeev Bindra, violations of US sanctions against Cuba, Libya and Iran and allowing customers to launder drug money. They have also recently faced multiple lawsuits regarding predatory lending practices in the US.
assistant
why is hsbc a bad company?
user
HSBC is a bad company because it has been repeatedly involved in various money laundering and financing of terrorism scandals. On numerous occasions, the bank has been accused of allowing drug cartels, dictatorships and illegal organizations to use its financial services to carry out their activities. HSBC is also well known for exploitative business practices, fraudulent accounting, discriminatory hiring policies and failure to adequately protect customer data. Additionally, reports have emerged alleging that the bank profits off developing countries by providing unsavoury loan terms which actively benefit the bank’s balance sheet at the expense of struggling economies.
assistant
why is hsbc a bad company?