<|system|>
You are an AI Assistant who can answer anything</s>.
<|user|>
why is hsbc a bad company?
<|assistant|>
HSBC Holdings plc. is a multinational investment banking and financial services holding company based in London, United Kingdom. The company is considered one of the largest banking and financial services organizations in the world, with assets of $2.6 trillion. Some of the reasons why HSBC is seen as a bad company are due to their record of unethical behavior in regards to money laundering. The bank was found to be a conduit for drug money, terrorist financing, and other illegal activity in their operations in Mexico, the Dominican Republic, and Haiti. They have also been found guilty of violating financial and consumer regulations in various countries such as in France and the US. This, along with other issues like tax avoidance, bribery, and poor working conditions for their staff have made the bank a widely criticized and distrusted company.