HSBC issues grovelling apology

Shamed banking giant HSBC has released a statement admitting it 'sometimes failed to meet the standards that regulators and customers expect' and said it 'will apologise' for its mistakes.

Shamed banking giant HSBC has released a statement admitting it 'sometimes failed to meet the standards that regulators and customers expect' and said it 'will apologise' for its mistakes.

With its tail firmly between its legs, the bank has been forced to say sorry after an investigation by the US Senate found it had ignored clear signs its Mexican division was being used as a conduit for billions of dollars of drug money to be transferred to America.

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