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U.S. Senate: HSBC used by 'drug kingpins and rogue nations'

  • HSBC provided a means for "drug kingpins and rogue nations" to channel funds, according to a U.S. Senate committee probing money laundering claims at the bank.

    The report said suspicious funds from countries such as Mexico, Iran and Syria had passed through the bank.

    President and chief executive of HSBC Bank USA, Irene Dorner, apologized to the committee for the actions, which she said deeply regretted.

    The U.S. government prohibits financial transactions with Iran and certain other countries.

    The committee said the bank's actions in bypassing these regulations had in some cases assisted terrorism.