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HSBC Sued Over Drug Cartel Murders After Laundering Probe

  • Civil action claims traffickers committed terrorist acts
  • Bank accused of aiding and abetting Sinaloa, other cartels
Updated on

Families of U.S. citizens murdered by drug gangs in Mexico sued HSBC Holdings Plc, claiming the bank can be held responsible for the deaths because it let cartels launder billions of dollars to operate their businesses.

The lawsuit brings fresh scrutiny to the Mexican activities of HSBC, which in 2012 paid $1.9 billion to resolve a criminal investigation into whether it violated U.S. sanctions laws and laundered at least $881 million on behalf of drug cartels.