HSBC Under Investigation For Chinese Hiring Practices

HSBC, the London-based bank that seems unable to avoid trouble in certain divisions, is now being investigated over its hiring practices in Asia. The bank confirmed Monday it is being investigated by the U.S. Securities and Exchange Commission over its hiring practices of offspring of well-connected Chinese executives and government officials. The bank has a rather significant recent history of criminal activity, including laundering money for drug cartels and suspected terrorists.

HSBC announces investigation in earnings report

During the bank’s earnings report, where the bank announced a $1.3 billion loss in the fourth quarter, it revealed the investigation into bank hiring practices to determine...