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2012-11-09 — nytimes.com

``The money laundering scandal began when the United States Senate's Permanent Subcommittee on Investigations accused HSBC of allowing some of its executives to let illegal behavior go unchecked for nine years, until 2010. In one example, the bank provided financing to Al Rajhi Bank of Saudi Arabia, even though some of the bank's owners were linked to the financing of terrorism, according to the Senate report.''

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